KARACHI:The State Bank of Pakistan, on Tuesday, suspended the authorization of an Exchange Company- namely, M/s Money Link Exchange Company (Private) Limited- for a period of three months on account of a serious violation of the central bank’s regulations and instructions.
The suspension would be applicable with immediate effect, said a statement issued here.
The Exchange Company, its Head Office and all the nine (09) outlets have been banned from undertaking business activity of any kind during the suspension period, it added.