Banking Mohtasib provides relief of Rs681m to banking customers in H12024

KARACHI: The Banking Mohtasib Pakistan (BMP) 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.

The relief amount is some Rs 141 million higher than the relief provided in the first half of last year 2023. Last year, during the same period, relief of approximately Rs. 539.72 million was provided to the banking customers by disposing of over 12,015 complaints.

During the current year, about 96 percent or 12,111 complaints were resolved amicably while only 4 percent or 457 complaints required resolution through hearings which required issuance of formal orders from Banking Mohtasib.

In spite of new measures announced by the State Bank of Pakistan (SBP) effective from 1st January, 2024, there is no letup in the number of complaints being lodged against commercial banks as 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, 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.

Copyright Business Recorder, 2024