KARACHI, June 10: The State Bank has issued working licences to two more foreign exchange companies — Access Currency Exchange of Karachi and Zarco Exchange of Lahore.

An SBP official told Dawn that with the issuance of two new licences the number of foreign exchange companies now stand at nine that have got final SBP approval to start work.

Of these, five are already in operation — NBP Exchange Company of state-run National Bank, H&H Exchange Company, KKI Exchange Company, Al-Sahara Exchange and Data Exchange. The nine companies that have so far got the SBP licence are among 20 parties whom the central bank has issued initial no-objection certificates for setting up exchange companies.