The State Bank of Pakistan (SBP) has revoked the authorization and license of Al Rahim Exchange Company (Pvt.) Limited with immediate effect over violations of the central bank’s regulatory instructions.

Following the decision, the company is no longer permitted to conduct any foreign exchange business.

The ban covers Al Rahim Exchange Company’s head office as well as all of its branches, effectively terminating its authorized operations in the foreign exchange market.

The SBP did not disclose the specific violations that led to the cancellation in its notice.

The action reflects the central bank’s enforcement powers over licensed exchange companies and its authority to withdraw authorization when regulatory requirements are not met.