State Bank of Pakistan on Tuesday has cancelled the licence of a currency exchange company who failed to start its operation within the given specific time, said SBP spokesman.
Access Currency Exchange Company lost its licence as it failed to start its business in 90 days.
The SBP Exchange and Company rules do not allow a licence holder to exceed the specified time of three months.
At present 12 exchange companies are operating in the country. These licences are being issued to replace the money changers.
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