The State Bank of Pakistan (SBP) has revoked the license of M/s Money Masters Currency Exchange Company (Pvt.) Limited with immediate effect, citing serious regulatory violations.
Following the cancellation, the company’s head office and all its outlets are no longer authorised to conduct any foreign exchange-related business, the central bank announced on Tuesday.
The action comes as part of SBP’s broader drive in recent months to step up monitoring and enforcement against exchange companies in order to curb irregularities in the sector.
