Banking Mohtasib provides Rs 1bn relief to banking customers in 2022

KARACHI: The Banking Mohtasib Pakistan Muhammad Kamran Shehzad disclosed that his institution has provided relief of about one billion to the banking customers by disposing of 27,658 complaints against commercial banks in 2022.

Addressing a press conference at the Institute of Bankers Pakistan today, he said that out of 35,265 complaints, 21,822 (79%) were resolved amicably through reconciliation, 734 (3%) complaints were decided after formal hearings while 5,102 (18%) cases 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 and 7,607 complaints remained outstanding as on December 31, 2022.

He added that 30,493 complaints were received during the year 2022 whereas 4,772 complaints were brought forward from 2021. He further said that the Banking Mohtasib had provided relief of Rs 709 million by disposing of 32,592 complaints out of 37,364 during the calendar year 2021.

Kamran Shehzad said that there was an increase of 31% in receipt of public complaints lodged directly with BMP, whereas there was a slight decrease in the complaints received on Prime Minister’s Portal during 2022.

He said that the Banking Mohtasib has extended its outreach by opening up two new offices – one in Faisalabad and the other in Muzaffarabad – during the year. He also mentioned that under law the Banking Mohtasib provides free of cost services to the complainants at their door steps.

He said that BMP Office has upgraded its information system by introducing an online portal with effect from 1st January, 2023.

It would shortly provide convenience to the complainants to lodge and track their complaints through online portal and mobile application. The Banking Mohtasib Pakistan has also revamped its website and made it more user friendly, he added.

He said that the Banking Mohtasib is planning to launch conventional and digital media campaign for the benefit of banking customers. Mr. Kamran Shehzad has also stressed upon all banks to collectively launch a massive public awareness campaign through all forms of media to educate banking customers in order to protect them from frauds and forgeries.

He also urged upon the commercial banks to take substantive, meaningful and effective steps for the foolproof security of their customers’ deposits.

Earlier, Mr. Kamran Shehzad while welcoming the representatives of print and electronic media praised their support for creating awareness about the grievances of general public with regard to issues concerning the general public viz-a-viz the commercial banks.