Karachi January 24 2023: The State Bank of Pakistan (SBP) has suspended, with immediate effect, the authorization of eleven (11) outlets of eight (08) Exchange Companies, for seven (07) to fifteen (15) days due to violations of regulatory instructions.
SBP conducted mystery shopping at the outlets of exchange companies wherein it was observed that the aforesaid outlets were refusing sale of foreign currencies to their customers despite having availability of the same at their counters.
All eleven (11) outlets have been restricted from undertaking any kind of business activity during the suspension period.
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