Pakistan, Jan. 24 -- The State Bank of Pakistan, revoking the license of M/s Glaxy Exchange (Private) Limited, on Friday debarred the company and its outlets from undertaking foreign exchange business. "The State Bank of Pakistan (SBP) has, with immediate effect, cancelled the authorization/license of M/s Glaxy Exchange (Private) Limited on account of serious violations of SBP's regulatory instructions," said a statement issued here. The exchange company, including its head office and outlets, could no longer undertake any kind of foreign exchange related business activity, it added.

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