The Karachi Chamber of Commerce has expressed its support and approval for the introduction of a web platform dedicated to currency spot trading. This new initiative is expected to address issues of manipulation, reference rates, and discourage informal transactions.
According to Zubair Motiwala, as reported by khabristan News, the trade portal will enhance the efficiency of foreign exchange transactions in import and export trade, while also curbing manipulative practices and discouraging informal transactions.
The Chairman of BMG, Zubair Motiwala, believes that this platform will play a crucial role in combating money laundering and cross-border smuggling, providing support to export-oriented industries and boosting overall export volumes.
Additionally, he emphasized that the currency spot trading platform will facilitate the import of raw materials, further benefiting businesses engaged in international trade.
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