Banking Mohtasib Provides Relief of Rs. 681.07 Million to Banking Customers in First Half of 2024

The Banking Mohtasib Pakistan has granted monetary relief amounting to Rs. 681.07 million to the banking customers by disposing of 12,568 complaints during the first half (January to June) of the current calendar year, 2024. Last year, during the same period, relief of approximately Rs. 539.72 million was provided to the banking customers by disposing of over twelve thousand (12,015) complaints. During the current year, about 96 percent (12,111) of complaints were resolved amicably while only 4 percent (457) of complaints required resolution through Hearings which required the issuance of formal Orders from Banking Mohtasib. Despite new measures announced by the State Bank of Pakistan effective from 1st January 2024, there is no letup in the number of complaints being lodged against commercial banks as the Banking Mohtasib Office has received 14,058 new complaints up to June 30, 2024, including 3,457 from Prime Minister’s Portal. With a view to protecting the banking customers from fraud and forgeries, the Banking Mohtasib Pakistan, Mr. Sirajuddin Aziz has stressed upon the banking customers not to disclose their personal and financial information to any third person. He has also advised the banking customers that on receipt of suspicious calls, they should immediately approach the nearest branch of their bank or contact the helpline of the bank.