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The State Bank of Pakistan (SBP) has revoked the authorization of M/s Muhammadi Exchange Company (Pvt.) Ltd. to operate in the foreign exchange business, effective from the date of the company’s closure of operations, October 17, 2025.
Following this decision, Muhammadi Exchange Company is no longer authorized to conduct any foreign exchange-related activities in Pakistan, the central bank confirmed in an official statement (ECD/M&PRD/PR/01/2025-81).
The move is part of SBP’s ongoing efforts to strengthen regulatory oversight and ensure compliance within the country’s foreign exchange sector.
