| 词条 | Zarco Exchange |
| 释义 |
| name = Zarco Exchange Company (Pvt.) Ltd | logo = | type = Private Limited | foundation = Lahore, Pakistan (1997) | location = Karachi, Lahore and many other cities Pakistan | Domicile = | key_people = Sayd Lakht-e-Hussnain (CEO) | industry = Financial services | assets = | revenue = $18 Million USD (2009) | net_income = | num_employees = At least 900 persons | market cap = | homepage = www.zarcoexchange.com }} Zarco Exchange international is a foreign exchange company based in Lahore. It is one of the largest Western Union agents for Pakistan of and in 2009 the company was ranked second largest nationwide after Khanani and Kalia International.{{Citation needed|date=February 2011}} In 2009 it became involved in the Pakistan Forex Scam Case after it was implicated by the Pakistani government. This resulted in its license being withdrawn and a number of allegations made against its directors and manager in relation to money laundering. However the courts eventually cleared the company and all the accused and its license was restored in 2011, after which the company resumed trading.[1] OperationsZarco Exchange has a large scale network of office nationwide. The company has working relationships and acts as agent for companies like Western Union, PayPal and Webmoney. The company also introduced its own Visa traveler cheques and other financial products. History2009 fraud allegations and license suspensionIn August 2009 Zarco became the second Forex company to be closed after Khanani and Kalia in what became known as the Pakistan Forex Scam Case when the Pakistan Finance ministry accused Zarco of money laundering and illegal money transfers to other countries. The State Bank of Pakistan suspended its license. More than 3500 of its employees had to stay home as company was forced to close all its 727 offices.[2] An investigation by the Pakistan Federal Investigation Agency raised a number of allegations of fraud. On 7 August 2009 the agency raided and closed all Zarco 727 exchange outlets in Pakistan.[3] Zarco Exchange CEO, Sayd Lakht-e-Hussnain denied being involved in any fraud and a complex legal dispute followed resulting in claim and counter claim of fraud and deception by the State Bank of Pakistan and Zarco and its management.[4] In December 2010, The Special Court (offences in banking) Lahore said it saw no reason that Zarco should not request a revival of its license from the State Bank of Pakistan.[5] In February 2011 Sayd Lakht-e-Hassnain was released by the Federal Investigation Agency after it decided to no longer pursue the case.[1] In response to the judgment by The Special Court (offences in banking) Lahore by April 2011 the State Bank of Pakistan had reinstated Zarco Exchange's licenses, and it restarted its operations. References1. ^1 {{cite news |url=http://tribune.com.pk/story/115638/man-accused-of-illegal-rs67b-transfer-freed/ |title=Man accused of illegal Rs67b transfer freed |publisher=The Express Tribune |date=February 8, 2011 }} 2. ^{{cite news|url=http://www.trendpk.com/state-bank-of-pakistan-suspends-license-of-zarco-exchange/523.html |title=State Bank of Pakistan suspends license of Zarco Exchange |date=August 10, 2009 |publisher=TrendPK }} 3. ^{{cite news |url=http://www.chowrangi.com/fia-raids-seals-zarco-exchange-company-outlets-across-pakistan.html |title=FIA raids, seals Zarco Exchange Company outlets across Pakistan |publisher=chowrangi.com |date=August 8, 2009 }} 4. ^{{cite news |url=http://www.dailytimes.com.pk/default.asp?page=2009\\09\\09\\story_9-9-2009_pg13_2 |title=LHC CJ reserves judgement in Zarco fraud case |date=September 9, 2009 |publisher=Daily Times }} 5. ^{{cite web|url=http://www.zarcoexchange.com/update.htm |title=Company update|date=December 2010 |publisher=Zarco }} External links
4 : Financial services companies of Pakistan|Foreign exchange companies|Scandals in Pakistan|Fraud in Pakistan |
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