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 head office and registered office of the Company is situated at Shaheen Complex, M.R. Kiyani Road, Karachi.