The Institution of Banking Mohtasib Pakistan (BMP) has provided relief amounting to Rs. 1.26 billion to Banking Customers by disposing of 25,493 complaints against commercial banks during the calendar year 2023.
Addressing a press conference at the Institute of Bankers Pakistan, the Banking Mohtasib Pakistan, Sirajuddin Aziz today said that out of 36,437 complaints received during the year and those brought forward from the year 2022, 21,886 (86 percent) complaints were resolved amicably through reconciliation,
676 (3 percent) complaints were decided after formal hearings and 2,931 (11 percent) complaints were disposed of rejected being incomplete, frivolous or due to lack of jurisdiction as per law under which the institution of Banking Mohtasib has been established.
While unveiling the Annual Report of BMP for the year 2023, he explained that there was an increase of 21 percent in public complaints lodged with the BMP Office against commercial banks during the year as compared to last year (2022). Howev
er, there was a significant decrease in the complaints received on Prime Minister’s Portal, which explains overall decrease of 5 percent in total number of complaints during 2023 as compared to 2022.
He disclosed that relief of approximately Rs. 6.4 billion was provided to the Banking Customers by the institution of Banking Mohtasib since its inception in 2005.
He said that the Annual Report 2023 of the Banking Mohtasib was presented to the President of the Islamic Republic of Pakistan, Asif Ali Zardari on April 19, 2024, at Aiwan-e-Sadr, Islamabad. On the occasion, the Hon’ble President appreciated the role of BMP in delivering free-of-cost service to the Banking Customers and promoting good governance.
He stressed the need to keep pace with technological advancements in the banking industry to manage the speedy disposal of public complaints. The Banking Mohtasib added that in compliance with the legal requirements, the Banking Mohtasib’s Annual Report 2023 was presented to the Governor, State Bank of Pak
istan, Jameel Ahmed on 28th March 2024.
Sirajudddin Aziz emphasized that all banks to collectively launch a massive public awareness campaign through electronic and print media to educate Banking Customers in order to protect them from fraud and forgeries.
He also urged upon commercial banks to take substantive, meaningful and effective steps for the foolproof security of their customers’ deposits. He added that the Banking Mohtasib Office is also planning to run an effective public awareness campaign through SMS in local languages to protect the Banking Customers from the nefarious designs of fraudsters.
Source: Pro Pakistani