KARACHI: The State Bank has asked exchange companies to report each and every transaction to State Bank, said a circular issued on Wednesday.

“It is reiterated that all exchange companies, including exchange companies of category ‘B’, are required to document each and every transaction as per related regulatory requirements,” said the circular.

The SBP warned that failure to comply with the above instructions will attract severe disciplinary action which may lead to suspension of the licence of the company.

Further, apart from other reporting requirements, exchange companies of both categories are required to submit transactions report on daily basis to the SBP.