Violation Of Rules: SBP suspends licence of Capital Exchange

SBP has advised the company not to carry out any transaction till further orders


Express June 19, 2011

KARACHI: The State Bank of Pakistan (SBP) has barred Capital Exchange Company-B (Private) Limited Karachi/Lahore from undertaking any kind of business activity.

In an announcement on Saturday, SBP said it had with immediate effect suspended the licence issued on June 30, 2004 to Capital Exchange to deal in sale and purchase of foreign currency notes and coins till further orders on account of violation of rules and regulations. SBP has advised the company not to carry out any transaction till further orders as it will attract more severe penal action under the rules.

Published in The Express Tribune, June 19th, 2011.

 

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