KARACHI: State Bank of Pakistan (SBP) has debarred M/s Capital Exchange Company-B (Pvt) Limited, Karachi/Lahore from undertaking any kind of business activity.
SBP has with immediate effect suspended the authorization/licence issued on June 30, 2004, to M/s Capital Exchange Company-B (Pvt) Limited to deal in sale, purchase of foreign currency notes and coins till further orders on account of violations of rules and regulations, a SBP press release said on Saturday.
The company has been advised by SBP not to carry out any transaction till further orders as it would attract more severe penal action under the rules.
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