The State Bank of Pakistan (SBP) on Tuesday cancelled the license of M/s Money Masters Currency Exchange Company (Pvt.) Limited with immediate effect over serious regulatory violations.
According to the central bank, the company’s head office as well as all of its outlets are no longer authorised to undertake any kind of foreign exchange-related business activity.
The SBP has in recent months intensified monitoring and enforcement actions against exchange companies in a bid to curb irregularities.
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