Lahore October 30 2023: Bank of Punjab decided to open exchange company due to recently introduced structural reforms by State Bank of Pakistan in the Exchange Company's sector.
"ln view of the recently introduced structural reforms by State Bank of Pakistan in the Exchange Company's sector and challenges posed by the recent depreciation in Pakistani rupee in the open market, leading Banks have been encouraged to establish wholly owned Exchange Companies with an authorized capital of Rs. 2.5 billion. Accordingly, in view of the current market potential and future expansion needs, an initial feasibility report for the establishment of "BOP Exchange Company" was proposed to the Board of The Bank of Punjab in its meeting held on October 28, 2023" states the Bank.
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