SBP Revokes Forex Licence Of Exchange Company

The State Bank of Pakistan has formally revoked the foreign exchange licence of Sahara Exchange Company (Private) Limited, with effect from the cessation of its operations, thereby prohibiting the entity from conducting any form of foreign exchange business.

The central bank has clarified that the company is no longer authorised to undertake foreign currency transactions in any capacity within Pakistan’s regulated financial framework.

This regulatory action follows a broader enforcement initiative by the SBP, under which the licences of Dream Exchange (Private) Limited and Al Raj International Exchange Company (Private) Limited were also cancelled due to significant violations of applicable regulatory requirements.

Pursuant to these enforcement measures, the affected entities, including their head offices and branch networks, are strictly barred from engaging in any foreign exchange-related activities.

Regulatory authorities have indicated that these actions underscore the SBP’s continued focus on strengthening compliance standards, ensuring operational discipline, and safeguarding the integrity and transparency of Pakistan’s foreign exchange market.