KARACHI, Aug 18: The State Bank of Pakistan on Monday issued notices to 55 entities and individuals for conducting illegal banking business and foreign exchange related brokerage activities.
These entities/undertakings are operating without any licence from the central bank.
According to the SBP, legal action will soon be initiated by the SBP against the entities/persons, who are found to be undertaking illegal banking business, soliciting deposits illegally or carrying out foreign exchange related brokerage activities.
The SBP and Securities and Exchange Commission of Pakistan have already cautioned the general public, through placement of notices in leading newspapers, not to deal with individuals/firms/companies claiming to be branches/agents of brokers of commodities/foreign exchange operating worldwide.
The general public has also been warned against making any kind of investment through such unauthorized and illegal banking businesses and foreign exchange related brokerage activities.
Meanwhile, the Chief Managers of the SBP Banking Services Corporation (Bank) at all the offices have already been advised to be vigilant and immediately report any such illegal activity in their areas.
Following is the list of entities /persons to whom notices have been issued by the State Bank:
1) Leader Forex (Pvt) Ltd, Lahore 2) Forex Management & Consultant (Pvt) Ltd, Karachi 3) Glonex (Pvt) Ltd, Lahore.
4) i) Offshore Global Management (Pvt) Ltd, Lahore. ii) Offshore Global Management (Pvt) Ltd, Lahore.
5) Apex Services (Pvt) Ltd, Karachi. 6) World Business Consultant (Pvt.) Ltd, Lahore. 7) United Brokerage Consultant (Pvt) Ltd, Lahore. 8) Pindex (Pvt) Ltd, Lahore. 9) Trade & Brokerage (Pvt) Ltd, Karachi. 10) CFC Global (Pvt) Ltd, Karachi. 11) Harvest International (Pvt) Ltd, Karachi.
12) i) M/s Multiforex International (Pvt) Ltd, Rawalpindi iii) Multiforex International (Pvt.) Ltd, Islamabad.
13) Credit Manhattan Securities (Pvt) Ltd, Karachi. 14) Trade Station Securities (Pvt) Ltd, Lahore.
15) i) Aglam Global Links, Rawalpindi. ii) Aglam Global Links (Pvt) Ltd, Islamabad. 16) Pacific Resources (Pvt) Ltd, Islamabad. 17) i) Intercomex Financial Data Services (Pvt) Ltd, Multan. ii) Intercomex Financial Data Services (Pvt) Ltd, Lahore.
18) Universal Resources (Pvt) Ltd, Faisalabad. 19) Noble Management Consultants (Pvt) Ltd, Lahore. 20) Future Trading Advisers (Pvt) Ltd, Lahore. 21) Forex Links (Pvt) Ltd, Lahore.
22) i) Daxing International (Pvt) Ltd, Lahore ii) Daxing International (Pvt) Ltd, Gujranwala. 23) Global Links (Pvt) Ltd, Lahore. 24) Intertrade Intelligence Comm. (Pvt) Ltd, Lahore. 25) Tycoons’s International (Pvt) Ltd, Multan. 26) International Financial Consultants (Pvt) Ltd, Peshawar. 27) Topworth Equity, Peshawar
28) i) Service International (Pvt) Ltd, Lahore. ii) Service International (Pvt) Ltd, Peshawar. iii) Service International (Pvt) Ltd, Sargodha.
29) Madina Enterprises (Pvt) Ltd, Faisalabad. 30) Wall Street Securities (Pvt) Ltd, Karachi. 31) White House Securities (Pvt) Ltd, Karachi. 32) Dollar East (Pvt) Ltd, Gujranwala. 33) Aldos International, Lahore. 34) Money Links, Abbotabad. 35) Nexus Capital Management, Lahore. 36) Global Business Centre, Multan. 37) International Business Centre, Multan. 38) Chicago Exchange Consultant, Peshawar. 39) Capital Links, Faisalabad.
40) i) World Comex Links, Faisalabad. ii) World Comex Links, Multan. iii) World Comex Links, Sargodha. 41) Forex Enterprises, Multan. 42) Global Marketing Services, Sargodha. 43) Global Marketing Services, Lahore. 44) Cargil Group of Companies, Lahore.
1) i) Mr. Farid Khan, Lahore. ii) Mr. Farid Khan, Lahore.
2) Mr. Haroon Ahmed, Lahore. 3) Mr. Omer Farooq Ahmed, Sargodha. 4) Mian Khurram, Lahore. 5) Mr. Shoaib Ullah Cheema, Lahore. 6) Mr. Mahmood Riaz Wahla, Lahore.
7) i) Mr. Shahid Hassan Awan, Islamabad. ii) Mr. Shahid Hassan Awan, Sialkot. iii) Mr. Shahid Hassan Awan, Faisalabad. iv) Mr. Shahid Hassan Awan, Lahore. v) Mr. Shahid Hassan Awan, Lahore. vi) Mr. Shahid Hassan Awan, Gujranwala. vii) Mr. Shahid Hassan Awan, Multan. viii) Mr. Shahid Hassan Awan, Lahore. ix) Mr. Shahid Hassan Awan, Lahore. x) Mr. Shahid Hassan Awan, Lahore. 8) Mr. Mehdi, Lahore. 9) Mr. Yaseen Akram Khokhar, Lahore. 10) Mr. Mohammad Rizwan Alvi, Lahore. 11) Mr. Haroon Cheema, Lahore.—APP
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