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This profile was last updated on 6/30/14  and contains information from public web pages.

Mr. Malik Muhammad Bostan

Wrong Malik Muhammad Bostan?


Exchange Companies Association of Pakistan

Employment History

  • President
    Forex Association
  • Chief
    Forex Association
  • President
    Forex Association of Pakistan
  • Chairman
    Forex Association of Pakistan

Board Memberships and Affiliations

  • Member
    Forex Association
52 Total References
Web References
The State Bank of Pakistan (SBP) ..., 30 June 2014 [cached]
The State Bank of Pakistan (SBP) last week, allowed export of foreign currencies except, dollars, Exchange Companies Association of Pakistan (ECAP) Chairman, Malik Bostan said. Malik Bostan lauded the decision by the central bank and hoped that this was very old demand, which at last met. He further said that the Bank will meet all other requests, made by the exchange companies. This move will bring down the extra burden of exchange companies, he said. He expect that the rupee will trade in the band of Rs 98.00 and 98.10 versus the dollar in the coming days.
It means we should not expect ..., 5 Nov 2013 [cached]
It means we should not expect better reply from the US, the IMF, the World Bank and other sources that could help us stabilise our extremely poor foreign exchange reserves and weak exchange rate regime," said Malik Bostan, chairman, Exchange Companies Association of Pakistan.
"We had asked the SBP to either compel banks to provide us dollars in exchange of cash or allow us to bring dollars from abroad through selling currencies (other than dollars) in the market," said Malik Bostan.
The currency slid 0.9 per cent ..., 1 June 2012 [cached]
The currency slid 0.9 per cent to 93.8350 per dollar, which is a record low, according to Malik Bostan, president of Forex Dealers Association.
Development News, 15 Mar 2002 [cached]
Malik Bostan who was on the SBP experts committee that has drawn rules for exchange companies claimed that the majority of money changers share his view."Hardly half a dozen money changers from Karachi - and up to 10 from all over Pakistan are capable of setting up a company with Rs100 million paid up capital.The remaining 460 cannot think of it - not even through mergers," he remarked.
Bostan said he would convene a meeting of money changers from across Pakistan next week to draw a strategy with regard to the paid up capital requirement and other issues relating to foreign exchange companies.He said money changers also wanted to co-exist with exchange companies but the central bank has given them two years time to merge with these companies or pack up and quit."That is not fair."
Ovais Kalia of Khanani & Kalia International said that being a member of Forex Association of Pakistan he too had favoured Rs50 million paid up capital for exchange companies "But since SBP has now finalized the regulations we have to follow them."
He said KKI that runs 8 outlets of currency brokering was quite keen on setting up a foreign exchange company adding that it had enough resources to meet the paid up capital requirement."But if some shortfall occurs we may ask others to join us."
Another leading money changer Haji Haroon said his currency brokerage Dubai Exchange was also keen on setting up an exchange company."We have not obtained the application form as yet but we will fetch it tomorrow.We are definitely interested in setting up an exchange company."
Forex Association chief ..., 15 Sept 2011 [cached]
Forex Association chief Malik Bostan was of the view that increase in dollar buying caused dearth of dollars in the market, and it was likely that the rupee may not be able to retain its current level versus dollar in near future.
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