SBP Cancels Licenses Of Two Exchange Companies

The State Bank of Pakistan has revoked the licences and authorisations of Dream Exchange (Private) Limited and Al Raj International Exchange Company (Private) Limited following the identification of significant violations of applicable regulatory requirements.

As per official statements issued by the central bank, the enforcement action has been implemented with immediate effect, reflecting serious non-compliance with prescribed regulatory standards governing exchange companies.

The State Bank of Pakistan has directed that both entities, including their head offices and all operational branches, are no longer authorised to conduct any foreign exchange-related business activities in any capacity.

This regulatory intervention forms part of the central bank’s broader enforcement strategy aimed at enhancing oversight within the foreign exchange sector, ensuring adherence to legal and compliance frameworks, and promoting transparency, financial discipline, and market stability.