SBP directs banks to display contact details to facilitate customers

KARACHI: State Bank of Pakistan (SBP) on Thursday directed all banks to display prominently contact details to facilitate customers in case of complaints and other issues.

In a circular, the central bank asked the financial institutions the BPRD Circular Letter No. 27 dated September 02, 2015 and subsequent instructions in this regard, wherein it was advised to banks/DFIs to put in place an internal mechanism for speedy handling of complaints relating to discrimination in provision of financial services to certain categories of customers, in particular Politically Exposed Persons.

In this regard, banks/DFIs are also advised to display placard in branches at prominent places providing the address, phone & fax number and email address of their focal person to attend the issues of Politically Exposed Persons.

The display should also provide the contact details of focal person of State Bank of Pakistan, provided in the aforesaid circular, for resolution of complaints of Politically Exposed Persons through State Bank of Pakistan.

The attention of the banks/DFIs is also drawn to BC&CPD Circular No. 1 dated February 29, 2016 wherein the Banks/DFIs were advised to adopt effective and efficient “contact points” for consumer complaints handling.

The banks/DFIs are re-emphasized to also place the “contact points” address, phone & fax numbers and email address on the displayed placard to ensure that the customers are well informed of these “contact points” for lodging their general complaints.

Similarly, the banks/DFIs shall also display the contact details of the Banking Mohtasib on the placard to approach for escalating their general complaints as stipulated in BPRD Circular Letter No. 18 dated August 10, 2010.

The banks/DFIs are again advised to ensure meticulous compliance of instructions issued in this regard and avoid adopting discriminatory practices against any segment of society including Politically Exposed Persons.

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