Regulatory Insights
As a regulated foreign exchange company in Pakistan, MCB Exchange operates under the strict guidelines and regulations issued by the State Bank of Pakistan (SBP). These circulars ensure transparency, stability, and compliance within the currency exchange market, safeguarding the interests of both customers and the financial system. We are committed to adhering to all SBP directives, ensuring that our operations are fully compliant and uphold the highest standards of integrity.
Regulatory Framework for Exchange Companies (RFEC)
Introduced through FE Circular No. 02 of 2024, this framework replaces the older manual. It includes updated rules on governance, internal controls, IT systems, and compliance reporting for Exchange Companies.
Major Reforms in Exchange Companies Sector
Introduced through FE Circular No. 03 of 2023,this circular outlined major reforms in the Exchange Companies sector, including the restructuring and
unification of existing Exchange Company categories.
SBP rationalizes Limits for Foreign Exchange Cash Carrying for travel and Cross Border Transactions
External Relations Department circular reference # ERD/M&PRD/PR/01/2022-121 dated November 28, 2022
Amendment in Instructions Related to Sale of Foreign Currencies to Individuals
A foundational document that sets out the rules and procedures governing foreign exchange activities in Pakistan, intended for Authorized Dealers and Exchange Companies to ensure regulatory compliance.