The State Bank of Pakistan has immediately revoked the authorisation and licence of M/s Glaxy Exchange (Private) Limited due to serious violations of the central bank’s regulatory instructions. Following this decision, Glaxy Exchange, including its head office and all branch outlets, is no longer allowed to conduct any foreign exchange-related business activities.
The central bank stated that the action was taken in accordance with its regulatory framework to ensure compliance with established rules and to maintain the integrity and stability of Pakistan’s foreign exchange market. This measure underscores SBP’s commitment to strict enforcement of regulations and the protection of market participants.
