SBP cancels Al-Rahim Exchange license

Mettis Global reported that the State Bank of Pakistan (SBP) has cancelled the authorisation of Al-Rahim Exchange Company (Pvt.) Limited, citing serious violations of its regulatory instructions. The notice was issued by the central bank's External Communications Department on Monday, August 17, 2026, and the decision applies immediately.

The SBP has also barred the company, including its head office and every branch, from conducting any foreign exchange business in any capacity. As a result, it can no longer carry out foreign exchange operations under the authorisation it previously held.

The move came amid wider oversight of exchange companies in Pakistan, where the central bank has been acting firmly against entities that breach its framework. Under the decision, all foreign exchange activity at the firm and its branches has stopped.