The State Bank of Pakistan (SBP) has revoked the authorization of M/s Muhammadi Exchange Company (Pvt.) Ltd. to operate in the foreign exchange business,[1] effective from the date of the company’s closure of operations, October 17, 2025.
Following this decision, Muhammadi Exchange Company is no longer authorized to conduct any foreign exchange-related activities in Pakistan, the central bank confirmed in an official statement (ECD/M&PRD/PR/01/2025-81).
The move is part of SBP’s ongoing efforts to strengthen regulatory oversight and ensure compliance within the country’s foreign exchange sector.
References
- ^ foreign exchange business, (www.techjuice.pk)