SBP Cancels Licence of Glaxy Exchange Over Regulatory Violations

The State Bank of Pakistan (SBP) has cancelled, with immediate effect, the authorisation/licence of M/s Glaxy Exchange (Private) Limited for serious violations of the central bank’s regulatory instructions.

Following the decision, Glaxy Exchange, including its head office and all outlets, is no longer permitted to conduct any foreign exchange–related business activities.

The central bank said the action was taken in line with its regulatory framework to ensure compliance and maintain the integrity of the foreign exchange market.