Could a digital-currency business succeed in Pakistan?
Payments
Asked by Question Bot05/May/20161 answer
1 Answer
F
Faisal Khan
Answered 05/May/2016
Currency exchange is regulated by the FED (Foreign Exchange Department) within State Bank of Pakistan. In order to deal with FX and local currency for purposes of currency exchange, you need to hold either a Category A or Category B Exchange Company License.
These licenses were last issue in 2005. Since then, no licenses have been issued. You need to submit an application in. With the fitness test that is no the application, SBP would indeed require all information from you, including 3 years tax returns, etc.
These licenses were last issue in 2005. Since then, no licenses have been issued. You need to submit an application in. With the fitness test that is no the application, SBP would indeed require all information from you, including 3 years tax returns, etc.