Money and banking drive economic activity by facilitating transactions, savings, and investments. Banks manage financial resources, offer credit, and regulate money supply, ensuring stability and growth in Pakistan’s financial sector.
Karachi, April 22, 2025 – The Pakistani rupee posted a modest recovery of 10 paisas against the US dollar on Tuesday, buoyed by increased inflows from remittances and export receipts, which helped ease pressure in the interbank foreign exchange market.
(more…)
Karachi, April 22, 2025 – A leading bank has come under scrutiny after its failure to prevent a major fraudulent incident led to unauthorized withdrawals totaling over Rs7.3 million.
(more…)
KARACHI, April 22, 2025 – Habib Bank Limited (HBL) has topped the list of financial institutions with the highest number of banking customer complaints during the calendar year 2024, according to the annual report released by the Banking Mohtasib of Pakistan.
(more…)
KARACHI: April 21, 2025 – The Banking Mohtasib Pakistan (BMP) provided monetary relief worth Rs1.65 billion to banking customers in 2024 by resolving 27,753 complaints against commercial banks, marking a significant increase from Rs1.26 billion in relief extended in 2023 through 25,493 resolved cases.
At a press conference in Karachi, Banking Mohtasib Sirajuddin Aziz presented the BMP’s Annual Report for 2024 and highlighted key achievements. Including carry-over cases from 2023, a total of 41,546 complaints were handled during the year. Out of these, 24,498 complaints were amicably settled through reconciliation. Additionally, 1,330 complaints (5%) were resolved after formal hearings conducted across the country—including in Mirpur (AJK), where BMP has no permanent office—while 1,925 cases (7%) were dismissed due to jurisdiction issues, frivolous content, or incomplete information.
Since its inception in 2005, the Banking Mohtasib has facilitated around Rs8 billion in relief to banking customers nationwide. According to the report, public complaints increased by 6% in 2024 compared to the previous year, largely due to the rising use of digital platforms and mobile apps, which has unfortunately led to a spike in cyber fraud and account-related disputes.
Of the total complaints, 7,193 were routed through the Prime Minister’s Portal. Aziz noted that an influx of 3,283 complaints during the last 45 days of 2024 contributed to a backlog now carried into 2025.
The Banking Mohtasib stressed that while banks have attempted to educate customers via media campaigns about online safety and fraud prevention, these efforts have fallen short. He emphasized the urgent need to spread awareness in rural areas and recommended delivering these messages in regional languages to ensure maximum impact.
Aziz also highlighted that newly launched digital banks now fall under the Banking Mohtasib’s jurisdiction, necessitating more staff trained in fintech operations and technology.
The Banking Mohtasib’s Annual Report was formally submitted to the Governor of the State Bank of Pakistan on March 27, 2025, in compliance with statutory requirements.
He concluded by acknowledging the media’s continued support in raising awareness about banking grievances and strengthening consumer protection across the financial sector.
Karachi, April 21, 2025 – The Pakistani rupee on Monday weakened by 15 paisas against the US dollar, reflecting mounting pressure from persistent global economic uncertainty, particularly driven by intensifying tariff disputes.
(more…)
Karachi, April 21, 2025 – Meezan Bank Limited has reported an 11% drop in its profit after tax for the first quarter of the calendar year 2025, compared to the same period in 2024.
(more…)KARACHI – April 20, 2025: The Pakistani rupee is expected to remain stable against the dollar in the coming week, supported by favorable economic indicators and a positive outlook from international institutions.
(more…)
Karachi, April 19, 2025 – In a move to encourage foreign inflows, the government of Pakistan has introduced substantial relief on remittances in the form of duty allowance for overseas Pakistanis who send money back home through official banking channels. The initiative aims to reward remitters by offering duty credit allowances tied to the amount remitted.
(more…)Karachi, April 18, 2025 – The Pakistani rupee recorded a minor decline on Friday, slipping by 10 paisas against the US dollar amid rising outflows related to imports and corporate transactions.
(more…)Karachi, April 17, 2025 — The Pakistani rupee lost some ground against the US dollar on Thursday, depreciating by 16 paisas in the interbank market, even as several key economic indicators pointed towards an improving macroeconomic outlook.
(more…)