The State Bank has issued another licence for 'B' category exchange company totalling two of its kind while 25 No Objection Certificates (NOCs) have been issued for 'B' category.
The SBP has accelerated its effort to issue maximum number of licences before 30th June, the day when moneychangers would shut down their business.
The licence has been issued to "Time Exchange Company-B". Formation of 'B' category is an option for the moneychangers to remain in the business. However, they have also an option to get franchise of any exchange company.
The State Bank has so far issued 16 licences for exchange companies. Out of this total, 13 are operating. The SBP has issued additional 14 NOCs for the exchange companies.
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