Consumer Protection

At MCB Exchange, safeguarding the rights and interests of our valued customers is paramount. We are committed to providing transparent, fair, and secure foreign exchange services in strict accordance with the consumer protection frameworks established by the State Bank of Pakistan (SBP) and other relevant regulatory bodies. Our measures are designed to ensure clear communication, efficient service, and robust complaint resolution, empowering you with confidence in every transaction.

Here are some of the key regulations and measures that underpin consumer protection in Pakistan’s foreign exchange sector:

SBP’s Consumer Protection Department (CPD)

The State Bank of Pakistan’s CPD monitors the conduct of regulated entities, including Exchange Companies. Its aim is to promote responsible market behavior, ensure transparency, and uphold the fair treatment of all customers.

Customer Support and Complaint Handling Mechanism

MCB Exchange follows SBP’s directive by maintaining a structured grievance mechanism. It ensures that customer complaints are acknowledged, assessed, and resolved promptly with clear procedures for customer feedback.

Foreign Exchange Manual and RFEC Guidelines

These SBP-issued documents contain specific consumer protection provisions, such as transaction documentation, exchange rate disclosures, and limits—ensuring Exchange Companies operate transparently and fairly.

Fair Treatment of Customers
(FTC)

MCB Exchange abides by FTC principles in all areas—from product offerings to customer support. We ensure clear communication, customer privacy, and ethical practices in line with SBP guidelines.

Transparency in Rates and Charges Policy

To maintain transparency, we display accurate buying/selling rates and clearly communicate all applicable charges. Our exchange rate spreads comply with SBP’s competitiveness and customer disclosure policies.

As a regulated foreign exchange company in Pakistan, MCB Exchange operates under the strict guidelines and regulations issued by the State Bank of Pakistan (SBP). These circulars ensure transparency, stability, and compliance within the currency exchange market, safeguarding the interests of both customers and the financial system. We are committed to adhering to all SBP directives, ensuring that our operations are fully compliant and uphold the highest standards of integrity.

Key SBP circulars and regulatory frameworks governing currency exchange in Pakistan, publicly available on the SBP website, include:

Foreign Exchange Manual: This comprehensive manual outlines the rules and regulations for foreign exchange business in Pakistan, serving as a foundational document for Authorized Dealers and Exchange Companies.

Regulatory Framework for Exchange Companies (RFEC): Issued via FE Circular No. 02 of 2024 (December 27, 2024), this consolidated framework supersedes the previous Exchange Companies Manual, setting forth corporate governance structures, internal controls, IT system requirements, and updated reporting for Exchange Companies.

FE Circular No. 03 of 2023 (September 06, 2023): These circular details "Reforms in the Exchange Companies Sector," including the consolidation and transformation of various Exchange Company categories.

EPD Circular Letter No. 17 of 2022 (September 30, 2022): This circular introduces "Amendments in Instructions for Exchange Companies," specifically regarding the settlement of Pakistan Rupee consideration for inter-company transactions through bank accounts and mandating functional CCTV systems.