The Chief Executives
All Exchange Companies &
Exchange Companies of ‘B’ Category
Dear
Sirs/Madam,
Agreements
by Exchange Companies / Exchange Companies of ‘B’
Category
It has been observed that some Exchange Companies are entering
into agreements for business purposes with each other or
with other out side parties without obtaining prior approval
of the State Bank.
This
practice has been viewed very seriously and it is, therefore,
reminded/reiterated that the Exchange Companies of category
A or B, whatever may be the case, can not enter into business
related agreements with each other or with outside parties
without obtaining prior approval/clearance in writing from
State Bank of Pakistan.
All
the Heads/Chief Executives of Exchange Companies of category
A & B are advised to ensure compliance of the instructions
meticulously.