Time Exchange: State Bank of Pakistan revokes exchange company licence over regulatory breaches
Central bank orders immediate suspension of all foreign exchange operations across the company’s nationwide network.
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Karachi: The State Bank of Pakistan (SBP) has cancelled the authorization and licence of M/s. Time Exchange Company (Pvt.) Limited with immediate effect after identifying serious violations of its regulatory instructions.
Under the decision, the exchange company, including its head office and all constituent branches, can no longer conduct any foreign exchange business activities in any form.
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The central bank announced that the action follows regulatory non-compliance and directed the company to cease all exchange-related operations immediately.
The move forms part of the SBP’s oversight framework aimed at strengthening compliance standards and maintaining integrity within Pakistan’s foreign exchange market.
