SBP cancels foreign exchange license of Riaz Exchange Company

2026-03-05 - 09:33

The State Bank of Pakistan (SBP) has revoked authorization of Riaz Exchange Company (Pvt.) Ltd to deal in foreign exchange business. According to a press release issued by the SBP on Thursday, the decision has been taken on the company’s own request following the closure of its operations. “Authorisation of the company to deal in foreign exchange business has been revoked from the date of closure of its operations. Accordingly, the company is no longer authorised to carry out any type of foreign exchange business”, the SBP stated.