SBP cancels sahara exchange licence, bars company from all forex activities

The State Bank of Pakistan (SBP) has officially revoked the foreign exchange licence of Sahara Exchange Company (Private) Limited, effective from the closure of its operations, prohibiting the company from conducting any type of forex business.

The central bank clarified that Sahara Exchange is no longer authorised to engage in foreign currency transactions in any capacity.

This action follows a recent regulatory crackdown in which the SBP cancelled the licences of Dream Exchange (Private) Limited and Al Raj International Exchange Company (Private) Limited due to serious breaches of regulatory instructions.

Under the enforcement orders, both previously penalised companies, including their head offices and all branches, are barred from undertaking any foreign exchange-related activities.

Officials said the measures reflect the SBP’s ongoing commitment to strengthening compliance, ensuring operational discipline, and maintaining integrity in Pakistan’s foreign exchange sector.