SBP Revokes Foreign Exchange License of Al Sahara Exchange Company.
Al Sahara Exchange license revoked SBP
The State Bank of Pakistan (SBP) has officially revoked the foreign exchange license of Al Sahara Exchange Company Private Limited following the firm’s voluntary request to cease operations. Effective immediately, the company is no longer authorized to conduct any form of currency transactions.
Regulatory Oversight and Market Stability
This move is part of the central bank’s ongoing commitment to maintaining a well-regulated and stable foreign exchange market:
- Public Advisory: The SBP advises the public to conduct financial transactions only through authorized exchange companies to ensure safety and legality.
- Continued Enforcement: This follows recent strict actions where the SBP barred Dream Exchange and Al Raj International due to regulatory violations.
Current Economic Landscape
The tightening of the exchange sector occurs alongside several major economic and regional developments:
- Inflationary Pressures: Headline inflation hit 7.3% in March 2026, a high since August 2024, influenced by the ongoing Israel-US-Iran conflict.
- Digital Transformation: Despite current volatility, the OICCI Digital Report 2025 projects the digital economy could contribute Rs8 Trillion (7%) to the GDP by 2030.
- Energy Relief Initiatives: To counter fuel costs, the government has finalized an app-based fuel quota system providing digital vouchers for petrol subsidies to millions of motorcycle owners.
- Islamic Finance Growth: Demand for Shariah-compliant instruments remains high, with the latest Ijarah Sukuk (GIS) auction raising PKR 118.05 billion.
Financial Security Note: The SBP’s swift action on exchange licenses ensures that the transition toward a more digital and Islamic-oriented economy remains within a secure regulatory framework.
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