Banking Mohtasib provides relief of Rs681m to customers in January-June 2024

KARACHI: The Banking Mohtasib Pakistan has granted monetary relief amounting to Rs681.07 million to banking customers by disposing of 12,568 complaints during the first half (January to June) of 2024, a statement said on Monday.

Last year, during the same period, relief of approximately Rs539.72 million was provided to banking customers through the disposal of over 12,000 complaints. During the current year, about 96 per cent of the total complaints (12,111) were resolved amicably, while only 4.0 per cent (457) of the complaints required resolution through hearings requiring formal orders from Banking Mohtasib.

Despite new measures announced by the State Bank of Pakistan effective from January 1 2024, there has been no slowdown in the number of complaints being lodged against commercial banks as the Banking Mohtasib Office received 14,058 new complaints up to June 30, 2024, including 3,457 through the Prime Minister’s Portal.

To protect banking customers from fraud and forgeries, Sirajuddin Aziz, Banking Mohtasib (Ombudsman) Pakistan, has stressed upon banking customers not to disclose their personal and financial information to any third person. He has also advised banking customers that on receipt of suspicious calls, they should immediately approach the nearest branch of their bank or contact the bank’s helpline.