NBP Exchange Company Limited Information

NBP Exchange Company Limited is a wholly owned subsidiary of National Bank of Pakistan and was incorporated on September 24, 2002 as an unlisted public limited company under the Companies Ordinance, 1984. The Company obtained license for commencement of operations from State Bank of Pakistan (SBP) on November 25, 2002 and commencement of business certificate on December 26, 2003 from Securities and Exchange Commission of Pakistan (SECP). The Company was formed under the Foreign Exchange Regulation Act, 1947, as amended by SBP through F.E. Circular No. 9 dated July 30, 2002. The Company has to operate in accordance with the rules and regulations laid down by the said circular. The Company is engaged in the business of sale and purchase of foreign currency. The registered office of the Company is situated at Shaheen Complex, M.R. Kiyani Road, Karachi. The Company has ten branches situated in Karachi, Islamabad, Rawalpindi, Lahore, Peshawar, Mirpur (Azad Jammu & Kashmir),Wazirabad and Mingora Swat. The company is planning to expand its network of branches to at least 30 branches/booths in near future at various locations of the country. The company has entered into an arrangement with Western Union on May 2010 for making payments to customers at all our branches/booths