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KARACHI, Nov 15 (APP):The State Bank of Pakistan, Friday, suspended authorization of an Exchange Company on violation of relevant rules and regulations and barred it from undertaking any business.
“The State Bank of Pakistan suspended the authorization of Exchange Company namely M/s Islamabad Exchange Company (Pvt.) Limited with immediate effect till further orders, upon violations of SBP rules and regulations,” a statement issued here read.
The Exchange Company, its head office and authorized branches have been debarred from undertaking any kind of business activity during the suspension period, it added.