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Nov 22, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Business & Finance Print 2023-10-28

Exchange companies: SBP gives NOCs to Allied Bank, MCB Bank

Recorder Report Published October 28, 2023

KARACHI: The State Bank of Pakistan (SBP) has issued the no-objection certificate (NOC) to Allied Bank Limited for establishing an exchange company in the name of ABL Exchange Company (Private) Limited.

The SBP has also issued the no-objection certificate to MCB Bank Limited for establishing an exchange company in the name of MCB Exchange Company (Private) Limited.

Both the banks informed this through separate material information sent to Pakistan Stock Exchange on Friday.

Copyright Business Recorder, 2023

SBP ABL MCB Bank exchange companies NOCs

Comments

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Javed Mir Oct 29, 2023 02:23pm
Should we take this decision by SBP as a positive induction that these two banks have enough credibility to do business with them. ?
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Waheed ud din Oct 29, 2023 02:30pm
Let us be fair in dealing with with our economy. Is state bank sure that illegal transfer of money from the country will be stopped by this new arrangement or it is just an eye wash for general public. I believe that if rule and regulation for newly established bank foreign exchange copmpanies are the same as for privte foreign exchange companies, there will be no change in real nense except addition of new players in game.
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