Banking Mohtasib Provided Relief of Almost Rs. 1 Billion to Banking Customers in 2022

The Banking Mohtasib Pakistan (BMP) Muhammad Kamran Shehzad Thursday disclosed that his institution provided relief of about almost one billion rupees (Rs. 974.36 million) to the banking customers by disposing of 27,658 complaints against commercial banks during the calendar year 2022.

While unveiling the Annual Report 2022 of BMP, Shehzad said that out of 35,265 complaints, 21,822 (79 percent) were resolved amicably through reconciliation, 734 (3 percent) complaints were decided after formal hearings while 5,102 (18 percent) cases were disposed of 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 said that 30,493 complaints were received during the year 2022 whereas 4,772 complaints were brought forward from 2021. He further said that Banking Mohtasib had provided relief of Rs. 709 million by disposing of 32,592 complaints out of 37,364 during the calendar year 2021.

Shehzad said that there was an increase of 31 percent 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 the law the Banking Mohtasib provides free-of-cost services to the complainants at their doorsteps.

He said that BMP Office has upgraded its information system by introducing an online portal with effect from 1st January 2023. It would provide convenience to the complainants to lodge and track their complaints through an 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 Banking Mohtasib is planning to launch a conventional and digital media campaign for the benefit of banking customers. He also stressed all banks to collectively launch a public awareness campaign through all forms of media to educate banking customers in order to protect them from fraud and forgeries. He also urged commercial banks to take substantive, meaningful, and effective steps for the foolproof security of their customers’ deposits.