Tag: Banking Mohtasib Pakistan

Karachi, August 2, 2025 – Complaints against commercial banks have surged by 35% during the first half of the calendar year 2025, raising concerns about service quality and customer protection across the banking sector.

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Karachi, April 26, 2025 – In a recent case, a serious miscalculation by a leading Bank caused a substantial financial loss to an exporter, highlighting the critical importance of accurate handling of export proceeds.

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Karachi, April 23, 2025 – A major bank has come under scrutiny after it was found issuing insurance policies without the consent of its account holders, and deducting premium amounts directly from their deposits.

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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, October 15, 2024 – The Banking Mohtasib of Pakistan (BMP) provided monetary relief totaling Rs 1.06 billion to banking customers during the first nine months of the current calendar year, according to a statement released on Tuesday.

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Karachi, July 22, 2024 – The Banking Mohtasib Pakistan has provided significant monetary relief to banking customers, amounting to Rs 681.07 million, by resolving 12,568 complaints during the first half of the current calendar year, 2024.

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Karachi, April 29, 2024 – Banking Mohtasib Pakistan (BMP) revealed a 21% increase in complaints against commercial banks for the year 2023, as reported in a press conference held at the Institute of Bankers Pakistan.

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