The State Bank of Pakistan (SBP) has released its updated list of officially licensed exchange companies operating throughout the country for the year 2025. The latest compilation, now available on the SBP’s official website, identifies firms authorized to conduct foreign currency transactions, ensuring regulatory compliance and safeguarding customers engaged in cross-border financial activities.
The updated registry reinforces the central bank’s commitment to transparency and financial sector oversight, providing both the public and financial institutions with clear guidance on legitimate exchange service providers. Licensing of exchange companies is a critical component of Pakistan’s financial infrastructure, as it guarantees adherence to anti-money laundering (AML) protocols, foreign exchange regulations, and operational standards mandated by the SBP.
According to the SBP, the list encompasses both well-established and emerging players in the currency exchange sector, reflecting a mix of traditional banks’ subsidiaries and independent operators that meet regulatory criteria. Notable licensed entities include A A Exchange Company (Pvt.) Ltd., MCB Exchange Company (Pvt.) Ltd., Al-Rahim Exchange Company (Pvt.) Ltd., Askari Currency Exchange (Pvt.) Ltd., ABL Exchange (Pvt.) Ltd., and AL Habib Exchange Company (Pvt.) Ltd., among others. Other recognized names on the list are Alfalah Currency Exchange (Pvt.) Ltd., AL-Raj International Exchange Company (Pvt.) Ltd., BOP Exchange (Pvt.) Ltd., D.D Exchange Company (Pvt.) Ltd., and Dollar East Exchange Company (Pvt.) Ltd.
The compilation also features emerging and regional operators such as Dream Exchange (Pvt.) Ltd., Faysal Islami Currency Exchange Company (Pvt.) Ltd., Fairdeal Exchange Company (Pvt.) Ltd., Glaxy Exchange (Pvt.) Ltd., H & H Exchange Company (Pvt.) Ltd., HBL Currency Exchange (Pvt.) Ltd., and Habib Qatar International Exchange Pakistan (Pvt.) Ltd. Other companies, including Islamabad Exchange Company (Pvt.) Ltd., Link International Exchange Company (Pvt.) Ltd., ZeeQue Exchange Company (Pvt.) Ltd., UBL Currency Exchange (Pvt.) Ltd., Meezan Exchange Company (Pvt.) Ltd., NBP Exchange Company Ltd., Pakistan Currency Exchange Company (Pvt.) Ltd., and Paracha International Exchange (Pvt.) Ltd., are also part of the authorized network.
Additionally, Paragon Exchange (Pvt.) Ltd., Ravi Exchange Company (Pvt.) Ltd., Riaz Exchange Company (Pvt.) Ltd., Royal International Exchange Company (Pvt.) Ltd., Sadiq Exchange Company (Pvt.) Ltd., Sky Exchange Company (Pvt.) Ltd., Time Exchange Company (Pvt.) Ltd., and Union Exchange Company (Pvt.) Ltd. complete the list of firms permitted to operate under SBP regulations.
The SBP emphasizes that only the companies included in the published list are legally authorized to provide foreign currency exchange services within Pakistan. This list aims to safeguard consumers from unauthorized operators and reinforce confidence in the domestic financial ecosystem.
Industry analysts note that maintaining an updated registry is crucial in a rapidly evolving financial environment, where remittances, cross-border trade, and digital payment solutions increasingly rely on licensed intermediaries. By ensuring that exchange companies adhere to stringent compliance standards, the SBP seeks to maintain macroeconomic stability while supporting legal channels for foreign currency transactions.
The central bank has encouraged all stakeholders, including banks, remittance companies, and the general public, to regularly consult the updated list to ensure transactions are conducted through authorized entities.
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