The Exchange Companies are authorized to deal in foreign currency notes, coins, postal notes
, money orders, bank drafts, travelers' cheques, transfers and other businesses as allowed by SBP.
Unlike the money changers, whose scope of business is limited, the Exchange Companies would be authorized to deal in foreign currency notes and coins, postal notes, money orders,, bank drafts, traveler's cheques and transfers.
coins, postal notes, money orders, bank drafts, travellers' cheques and transfers, while prohibited to engage in any other activity such as deposits taking, lending etc.
If you have read newspapers and magazines such as The New York Times, The Wall Street Journal, and Atlantic Monthly over the past year or so, you have probably run across one or more installments in the Postal Service's "Postal Notes
" advertising campaign.
Under the exchange company license, Dollar East is authorised to deal in the business of currency exchange, travelers' cheques, notes, postal notes
, money order, bank drafts and inward/outward remittances in a regulated environment.