Banking Mohtasib's secretariat receives 19,028 complaints

KARACHI: Despite of Covid-19, a significant increase has been observed in the number of complaints lodged with the Banking Mohtasib Pakistan against the alleged frauds, forgeries and other irregularities during the first nine months of the current calendar year, 2020 as compared to the same period of last year, 2019.

According to details shared by banking mohtasib secretariat, some 19,028 complaints were received to the Banking Mohtasib Secretariat from January 01 to September 30, 2020 as against 12,624 complaints received in the same period of last year, depicting an increase of 51 percent.

Out of total complaints, some 11,092 were received through the Prime Minister's Portal relating to banking issues. The increase in the number of complaints represents the confidence of the general public on the institution of Banking Mohtasib. The Banking Mohtasib Secretariat disposed of 13,488 complaints from January 01, 2020 to September 30, 2020.

The Banking Mohtasib Pakistan, Muhammad Kamran Shehzad has urged the general public to strictly follow the instructions being given by banks in their public awareness campaigns of not disclosing their personal and financial credentials to any person. In this way they will be able to protect themselves from any fraud, forgeries etc.

The role of Banking Mohtasib is to resolve the grievances of the banking customers amicably, speedily and free of cost. It also protects the interest of the depositors and ensures that banks not only comply with the prescribed rules and regulations of the State Bank of Pakistan, but also apply them in a fair and judicious manner.

Copyright Business Recorder, 2020