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Tag: President Arif Alvi

  • President Alvi rejects MCB Bank’s appeal in fraud case

    President Alvi rejects MCB Bank’s appeal in fraud case

    ISLAMABAD: President of Pakistan, Dr. Arif Alvi has rejected an appeal filed by MCB Bank against a decision by the Banking Mohtasib (Ombudsman) in a case where a banking customer lost huge money due to fraudulent activity.

    President Dr Arif Alvi has upheld the decision of the Banking Mohtasib directing a private bank to credit the lost amount of Rs 800,000 (eight hundred thousand rupees) to the account of bank fraud victim.

    While rejecting the representation of the bank against the decision of the Mohtasib, he observed that the bank was at fault for having incorporated the wrong contact numbers of the account holder in the bank system, thereby, preventing the complainant from taking any remedial step to avert the loss after receiving SMS alerts about the fraudulent transactions.

    As per the details, Ms. Naveera (the complainant) had been maintaining an account with Muslim Commercial Bank’s (MCB) Gulshan-e-Ravi Branch, Lahore. She had to lose her money after her account was debited by using an ATM Card at four different ATM terminals.

    She claimed that those transactions were unauthorized as those had not been conducted by her and the ATM Card was throughout in her possession. She also reported that no SMS alerts about the withdrawal of funds were conveyed to her except one received on 24-01-2019 intimating the withdrawal of Rs 200,000 from her account.

    On receiving the SMS, she lodged a complaint with the bank, however, she was not provided with any relief. Subsequently, she approached the Banking Mohtasib to get a refund of Rs 800,000 withdrawn from her account fraudulently.

    The Banking Mohtasib in its decision observed that additional contact numbers of the complainant had been added in the bank’s record without any authorization from the account holder, therefore, SMS regarding cash withdrawal transactions could not be received by the complainant.

    Moreover, the bank had changed her PIN Code on 21.01.2019, just three days before the transactions, after receiving a phone call from an imposter as the Phone Banking Officer did not probe the caller.

    The bank admitted during the hearing that the voice of the caller was different from the voice of the lady complainant. Additionally, the legible CCTV footage and snapshots of disputed transactions with date and time were not visible as the bank was found negligent to implement the State Bank of Pakistan’s guidelines regarding the installation of cameras in ATM cabins/rooms to have secondary evidence and to monitor all activities in the ATM vicinity.

    The Mohtasib in its decision stated that the bank was under obligation to prove with cogent reasonable evidence that transactions were conducted by the complainant or were conducted by any person under her mandate.

    The Ombudsman, therefore, ordered the bank to make good the loss by crediting the account of the complainant with a sum of Rs 800,000.

    Later, the bank filed a representation with the Honorable President, which he rejected observing that the bank miserably failed to fulfil its statutory liability and rebut the claim of the complainant by failing to provide any justification to set aside the orders of the Banking Ombudsman. He noted that as per the law, the Banking Mohtasib is to inquire into the complaints about banking malpractices, maladministration, wrongdoings, fraudulent transactions, the corrupt and mala fide practices by the bank officials and pass appropriate orders on conclusion of the inquiry.

    The President rejected the representation of the private bank as no fault could be found with the Banking Mohtasib’s approach to the matter.

    President Alvi orders two banks to pay victims of fraud
  • President Alvi orders two banks to pay victims of fraud

    President Alvi orders two banks to pay victims of fraud

    ISLAMABAD: Pakistan President Dr. Arif Alvi has ordered two banks i.e. Al Baraka Bank Ltd (ABBL) and Habib Bank Ltd (HBL) to pay their customers in order to provide relief in fraud cases.

    President Dr Arif Alvi has upheld two different decisions of the Banking Mohtasib (BM) ordering Al Baraka Bank Ltd (ABBL) and Habib Bank Ltd (HBL) to pay Rs9.145 million to Mrs. Zahida Naseem and Rs 5 million to Mushtaq Ahmed Bajwa, respectively, who had been swindled out of their money by the management of the banks.

    The President rejected the appeals of both the banks against the decisions of the Banking Mohtasib.

    He regretted that the victims of fraud, including an Overseas Pakistani, suffered a lot at the hands of the banks’ management and no relief was provided to them.

    He urged the public to avail the services of the Banking Mohtasib to seek relief in fraud cases as well as against the maladministration of bank officials/officers.

    According to details of both the cases, Mrs Zahida Naseem (complainant) opened her PKR Account on 03-03-2017 and British Pound Sterling on 28-03-2017 with Al Baraka Bank, at DHA Branch, Lahore. She applied for Term Deposit for an amount of Rs 10.7 million for one year after signing her cheque and TDR Application Form.

    The then Branch Manager, Omer Ikram, provided her fake and fabricated Account Statement and TDR Certificates on bank’s Letter Head.

    However, in July, she came to know that the given account statement and TDR certificates were fake and fabricated.

    The Bank Manger had fraudulently used her cheque and requested for Real Time Gross Settlement instead of TDR. It was later revealed that Ikram had allegedly committed fraud of huge amount of Rs 125 million and was an expert in making and providing tampered and fake bank statements to his clients.

    This was admitted by the bank which had cancelled the policies of clients and had refunded money to respective accounts in different cases. In this case, an amount of Rs 9 million was transferred to the bank account of Mr Ikram’s personal driver.

    Mrs. Naseem requested ABBL to credit the lost funds to her account but without any result. Subsequently, she approached the Banking Mohtasib for the redressal of her grievance.

    In a similar case, Mushtaq Ahmed Bajwa (complainant), an Overseas Pakistani living in Holland, was maintaining a PLS Saving Account with Habib Bank Ltd’s branch in Faisalabad.

    He handed over cash of Rs 5 million to the then branch manager, Akhtar Hussain, on 14-04-2017.

    Hussain filled in the deposit slip, and after signing and stamping it, handed over the counterfoil to the complainant. Later on, his brother informed him in Holland that an internal fraud had been perpetrated and funds deposited by several depositors had been embezzled by the ex-Branch Manager.

    The manager had deceitfully mentioned some imaginary cheque numbers on his deposit slip instead of cash amount personally handed over to him.

    Further, the bank lodged an FIR with FIA Faisalabad against the main accused and his accomplices. The bank did not pay Bajwa his claim despite acknowledging his complaint, after which, the complainant approached the Banking Mohtasib to seek justice.

    The Banking Mohtasib investigated both the cases and, after perusal of facts, ordered that the complainants may be refunded their lost money by the respective banks.

    Wafaqi Mohtasib held that the complainants had entrusted their hard earned money to the concerned banks and it was fiduciary duty of the banks to protect their customers.

    It noted that the appointment of vigilant bank officials, honest and professional staff was the responsibility of the bank and not of the complainants.

    The Ombudsman noted that the bank officials had been duly posted by the management of the banks and they were performing the employer’s business, when the complainants had suffered financial losses due to the unethical and fraudulent activities of the authorized bank officers.

    The bank cannot escape the liability in such cases when the commission of fraud with the accountholder by its management is established and admitted, the BM held.

    The Mohtasib ordered that both the banks were responsible to make good the loss of the complainants without further delay. Subsequently, the banks filed separate appeals against the decisions of the BM.

    President Dr Arif Alvi upheld both the decisions of the Mohtasib on the grounds that banks were given ample opportunity by the Mohtasib to defend and controvert the claims of the complainants, however, banks had failed to discharge the burden and statutory liability cast upon them under the law.

    “No justification has been made to upset the order of the learned Banking Mohtasib”, the President wrote while rejecting the representations of the banks.

    President rejects Soneri Bank’s appeal in fraud case
  • President rejects Soneri Bank’s appeal in fraud case

    President rejects Soneri Bank’s appeal in fraud case

    ISLAMABAD: President Dr. Arif Alvi has rejected an appeal filed by Soneri Bank Limited against an order made by Banking Mohtasib.

    The President ordered the bank to pay the amount to complainant in fraud case, a statement said on Saturday.

    According to the details, President Dr. Arif Alvi has rejected the representation, filed by the Soneri Bank Ltd (SBL) against the order of the Banking Mohtasib, and has made the bank responsible to make good the loss of the money to the complainant without further delay.

    While upholding the orders of the Banking Mohtasib to pay an amount of Rs 800,000 amount to the complainant, the President stated in his decision that the bank could not escape the liability in a case of this kind, when the commission of fraud with the account holder by its management was established and admitted.

    He said that the ample opportunity had been provided to the Bank before the learned Banking Mohtasib to defend and controvert the claim of the complainant and even before the forum, however, the bank had failed to discharge the burden and statutory liability cast upon it under the law.

    Muhammad Danish Naseem (the complainant) maintains an account with the Soneri Bank Ltd Sargodha Road Branch, Sheikhupura.

    Danish opened his account on 22-10-2018 in the bank branch and requested the Manager to deposit PKR. 2,000,000/- (two million rupees) cash in the said account. Whereas, the Manager gave him deposit slips of Rs. 500,000/-, Rs. 900,000/- and Rs. 600,000/- respectively.

    Despite insistence of the account holder for issuing one deposit slip of amount i.e. Rs. 2 million, the bank manger issued three deposit slips saying that it was to overcome the restrictions of the SBP.

    Later, the account holder wanted to draw money from his account but there was no sufficient balance in his account. He lodged a complaint with the bank’s authorities but his grievance was not addressed.

    Although, the complainant possessed valid deposit slips admittedly issued by the Ex-Manager bearing his genuine signature and Branch Stamp affixed thereon which validated customer claim to the extent that the Bank had not accounted for amounts of PKR. 2,000,000/- in his account.

    Furthermore, the Bank had admitted during the proceedings before the Banking Mohtasib that the receipts in possession of the customers bore signatures of the Bank’s ex-Manager.

    Despite all these proofs, the complainant was compelled to run from pillar to post and no relief was provided to him. Feeling aggrieved, Danish Naseem approached the Banking Mohtasib for his grievance.

    The Banking Mohtasib, under Section 82 D of the BCO read with Section 9 of the Federal Ombudsmen Institutional Reforms Act, 2013 (No. XIV of 2013), advised the Bank to forthwith make good the loss by crediting the account of the complainant with a sum of Rs800,000/- in pursuance of the findings.

    While rejecting representation of the Bank, the President has noted that it is a case of wrong doing and maladministration by the Bank officials and it is, therefore, responsible to make good the loss of the complainant.

    He further stated that the ambit and extent of jurisdiction of Banking Mohtasib was spelt out under Section 82A (3)(a)(e), Section 82B(4)(5) and Section 82F of the Banking Companies Ordinance, 1962.

    The cumulative reading and perusal of these provisions of law undoubtedly leads to the conclusion that the Banking Mohtasib is to inquire into the complainants about banking malpractices, maladministration, wrong doings, the fraudulent transactions, the corrupt and malafide practices by the Bank officials and pass appropriate orders on conclusion of inquiry.

    These powers of the Banking Mohtasib when considered in context with Section 18 and 24 of the Federal Ombudsmen Institutional Reforms Act, 2013 further show that in matters falling within the jurisdiction of the Banking Mohtasib, stated the decision.

    President Alvi orders State Life to pay death insurance
  • President Alvi orders State Life to pay death insurance

    President Alvi orders State Life to pay death insurance

    ISLAMABAD: President of Pakistan Dr. Arif Alvi has order the State Life Insurance Corporation to pay death insurance claims to widows of two different insurance policy holders,

    The president upheld the orders of the Wafaqi Mohtasib to pay the death insurance claims to the widows of policyholders in two separate cases and rejected the representations of SLICP in this regard.

    According to the details, Mst. Nagina Fatima’s late husband had purchased non-medical life insurance policy for Rs 1 million and paid annual premium amounting to Rs 54,890 on December 31, 2018.

    After his death in February 2019, the widow, being the nominee of the deceased policyholder, approached the SLICP for the payment of death insurance claim.

    The SLICP repudiated her insurance claim without issuing her any notice, thereafter, the widow approached the office of the Wafaqi Mohtasib for the redressal of her grievance.

    Similarly, the husband of Mst. Rehana Kosar had purchased a policy for Rs 410,000 and after paying annual premium in July 2019 he died. Mst. Kosar’s claim was also rejected without issuing any notice to her after which she approached the Wafaqi Mohtasib to seek justice.

    Subsequently, Wafaqi Mohtasib, in both the cases, passed the orders directing SLICP to redress the grievances of the complainants by paying them death insurance claims, taking disciplinary actions against the delinquent officers/officials under the relevant laws and reporting compliance or intimate the reasons for not doing so within 30 days in terms of the Article 11(2) of P.O. 1 of 1983. SLICP, thereafter, filed appeals to the President assailing the orders of the Wafaqi Mohtasib. While rejecting the representation of SLICP, the President noted that under the Article 32 of the Establishment of the Office of Wafaqi Mohtasib Order 1983 read with Section 14 of the Federal Ombudsmen Institutional Reforms Act 2013, any person aggrieved by the order of the Mohtasib may file a representation within 30 days before the Honourable President.

    He stated that in both cases, the orders of the Mohtasib were forwarded to the agency on 26.05.2021 whereas both the instant representations of SLICP were field on 07.07.2021.

    The President observed that the extant law didn’t empower the condonation of delay to entertain a representation which is time barred, adding that it is liable to be rejected out rightly as incompetent and time barred. He remarked that the agency did not challenge the declarations made by the deceased policyholders about their good state of health and treated the insurance policies as “good risk” and a valid contract since the date of issuance of policies till their deaths for all intents and purposes.

    He ordered to estop the agency to assail the policy after the death of policyholders as the agency repudiated the claim without issuing any notices and without providing the complainants the opportunity of being heard. The President in his decision wrote that the agency did not fulfil the requirements of natural justice which is one of the most sacred principles and its violation is always considered enough to vitiate even the most solemn proceeding.

    “Therefore, the representation is rejected at it is time barred and the Agency must consider the matter further, redress the grievance of the complainants by paying them death insurance claims, take disciplinary actions against delinquent officers under relevant laws and report compliance within 30 days”, he ordered.

    Dr. Alvi opens property exhibition for UAE based NRPs
  • President, PM congratulate Pakistan cricket team

    President, PM congratulate Pakistan cricket team

    ISLAMABAD: President of Pakistan Dr. Arif Alvi and Prime Minister Imran Khan on Sunday congratulated the Pakistan cricket team for a comprehensive 10-wicket victory against India in T20 World Cup.

    In a tweet the Prime Minister said, “Congratulations to the Pakistan Team & esp [especially] to Babar Azam who led from the front, as well as to the brilliant performances of Rizwan & Shaheen Afridi. The nation is proud of you all.”

    President of Pakistan Dr. Arif Alvi in his tweet congratulated the team with words: “Tremendous batting by Mohammad Rizwan and Babar Azam. What a pleasure to see total dominance. Going towards a good ending.”

    Pakistan thrashes India; Wins by 10 wickets

    Earlier, Pakistan smashed the Indian cricket team with a 10 wicket win; their first-ever win in ICC Men’s T20 World Cup against India.

    Jubilant cricket lovers danced to the tune of music and the slogans of Pakistan reverberated across the country and abroad; wherever the Pakistanis reside.

    Pakistani skipper Babar Azam and Mohammad Rizwan hit unbeaten half-centuries and successfully chased target of 152 runs set by India.

    The Pakistani openers remained in control of the match throughout their innings and achieved a resounding victory ending the domination of India against Pakistan in the T20 World Cup matches.

    Messages of felicitations poured in from the President of Pakistan, Prime Minister, ministers, and Pakistani crickets fans.

  • President upholds major penalty for NAB senior official

    President upholds major penalty for NAB senior official

    ISLAMABAD: Dr. Arif Alvi, the President of Pakistan, has upheld the major penalty of dismissal from service to a senior official of National Accountability Bureau (NAB).

    President Dr Arif Alvi while rejecting the appeal of ex-Assistant Director NAB, Muhammad Umair has asked the NAB to prosecute him to the maximum extent of the law on account of him being guilty of grave “inefficiency and misconduct”, and stealing 15 original deeds of property in reference no. 15/2019 (State v/s Sharjeel Inam Memon & Others).

    The President upheld the maximum service punishment in law of “major penalty” of “dismissal from service”, which he considers definitely not enough considering the crime involved, a press release issued by the President’s Media Wing here on Monday said. Muhamamd Umair, ex-Assistant Director (AD), had submitted an appeal to the President of Pakistan against the orders of Chairman National Accountability Bureau (NAB) imposing a major penalty of “Removal from Service”.

    Rejecting the appeal, the President stated that it was a case of blatant corruption, and was tantamount to throwing mud in the eyes of the people of Pakistan who had been betrayed. He said that Pakistan had suffered a great deal because of corrupt looters and plunderers, adding that so-called accidental fires destroy entire floors to remove every bit of evidence.

    The President added that documents were stolen even in foreign countries where corruption of Pakistani politicians was being investigated.

    According to the details, NAB had taken possession of 15 original deeds of property from the Secretary of Sharjeel Memon, Izhar Hussain, at the time of his arrest from his house in April 2019.

    Subsequently, the documents were kept in a steel Almirah in NAB which had been specifically provided to ex-Assistant Director, who was made the sole custodian of these documents.

    On 18th August 2020, the Defense Counsel claimed before the court that NAB did not possess the original documents, in response to which Umair promised to bring them to court the following day.

    On 19th August, the appellant told the court that he had lost the record in his office.

    This lapse resulted in the instant relief and granting of post-arrest bails to the accused persons.

    According to the fact-finding report, all the record was present but only the most important 15 original documents were removed cleverly from the file and were recovered only after pressure was brought upon the NAB official.

    NAB had recommended an immediate suspension of Umair, along with initiation of disciplinary proceedings under NAB Employees Terms and Conditions of Service (TCS) 2000 and proceeding under section 31(a) of National Accountability Ordinance, 1999. He was placed under suspension for three months with effect from 03-09-2020.

    In the light of the report of the Fact-Finding Inquiry Committee, it was decided to proceed against the officer under clause 11.05(2) of NAB’s TCS-2002 and issued him the show cause notice. After the fulfillment of legal requirements, Chairman NAB, on the recommendations of the Authorized Officer, awarded a major penalty of “Removal from Service” on Muhammad Umair under clause 11.03(1) (b) (iii) of NAB Employees Services Rules (TCS 2002).

    Subsequently, the ex-Assistant Director submitted an appeal to the President of Pakistan on 28-07-2021. While rejecting the appeal of Umair, President Dr Arif Alvi stated that the incident was shocking and documents were missing not as an accident but by deliberate action of a very corrupt official of NAB.

    He expressed surprise over the timing of the theft, adding that the theft was clever and the file was not lost.

    He observed that theft could not have been done by any outsider but only by someone who was totally aware of the entire case.

    The President said that it was very painful case for him and the criminal action caused huge damage of billions of rupees to Pakistan, besides betraying our trust and exchanging it for corrupt money.

    “I, therefore, reject the appeal and urge NAB to prosecute the individual to the best of its abilities”, the President noted.

    Dr. Alvi opens property exhibition for UAE based NRPs
  • Dr. Alvi opens property exhibition for UAE based NRPs

    Dr. Alvi opens property exhibition for UAE based NRPs

    KARACHI: Pakistan President Dr. Arif Alvi has inaugurated a property exhibition for the UAE based Non-Resident Pakistanis (NRPs) arranged by Pakistani banks offering Roshan Digital Account (RDA), in partnership with builders and developers, to showcase their products being offered under RDA.

    The president expressed the hope that Non-Resident Pakistanis (NRPs) living in UAE would take maximum advantage of the State Bank’s Roshan Apna Ghar scheme and use it to fulfill their and their families’ housing needs in Pakistan, according to a statement issued by the State Bank of Pakistan (SBP) on Saturday.

    Abdul Razak Dawood, Advisor to Prime Minister on Commerce, Textile, Industries & Production and Investment was also present at the occasion.

    The exhibition was attended by a large number of Pakistanis, various UAE based Pakistani associations, Senior State Bank of Pakistan (SBP) management, Presidents/CEOs of commercial banks, UAE and Pakistan based property developers, and Pakistan’s Embassy officials in UAE.

    Appreciating the vast potential of UAE based NRPs, President Dr. Arif Alvi said Pakistanis living in the UAE have significantly contributed towards development and economic growth of UAE and most of them regard UAE as their second home. He said that UAE is a major destination for Pakistani workers and their contribution in remittances is significant.

    He observed that SBP, with the active support of commercial banks, has provided NRPs a unique opportunity to buy a home that hitherto, had been a very difficult task for various reasons. He felt satisfied that finally an end-to-end digital process had made it possible for NRPs. He shared his thoughts divulging on various strengths as a nation that Pakistanis should be proud of.

    In his welcome address, Governor SBP, Dr. Reza Baqir expressed his heartfelt gratitude to President Dr. Arif Alvi for sparing time and inaugurating the exhibition. He said that SBP has been able to introduce RDA and Roshan Apna Ghar following the vision of Prime Minister Imran Khan to integrate the NRPs with the country’s economy.

    Recounting the massive success of RDA, the Governor elucidated that RDA has proved to be a huge success and become a household name connecting over 250,000 NRPs under one umbrella besides attracting over USD2.5 billion since its launch in September last year.

    Adding further, he said that the overwhelming success of RDA and Naya Pakistan Certificates (NPCs) speak volumes of the immense popularity of the incumbent regime in the hearts and minds of NRPs.

    He said it has been a priority of the government and SBP to resolve the issues of NRPs living across the globe, as they fully understand their potential for lifting the country’s economy. He said that international organizations were appreciating the economic growth of the country despite odds.

    He noted that economy was heading in right direction and the unprecedented increase in foreign exchange reserves is an expression of confidence of overseas Pakistanis in the government’s economic policies.

    Speaking on the occasion, Abdul Razaq Dawood assured the audience that economy is heading in the right direction and maintaining a healthy growth path. He especially mentioned textile and cement sector where growth trends are remarkable, while automobile, consumer goods and food and likes are following similar trend.

    Dawood said that country’s exports growth has already picked up and he is confident that it will keep the momentum and grow further this year.

    He also mentioned SBP’s Temporary Economic Refinance Facility (TERF) for helping industry expand and modernize, besides SBP’s various initiatives for facilitating the public at large.

    Roshan Apna Ghar is an initiative of SBP for Non Resident Pakistanis (NRPs) to buy, build or renovate their homes in Pakistan through their own investment or bank financing.

    SBP launches webpage for promoting house financing
  • Dr. Alvi to launch policy to reduce banking gender gap

    Dr. Alvi to launch policy to reduce banking gender gap

    KARACHI: State Bank of Pakistan (SBP) on Thursday said that President of Pakistan Dr. Arif Alvi will launch a policy to reduce gender gap in financial inclusion on September 17, 2021, at 11:00 am.

    Banking on Equality policy is SBP’s flagship policy initiative for reducing the gender gap in financial inclusion. The policy with its tagline ‘Mali Shamooliat – Sinifi Imtiaz key Bagher’ aims to transform the banking sector in the adoption of women-friendly business policies and practices. The policy has an overarching theme of improving women’s access to financial services and specifies the following key pillars:

    — Gender diversity in financial institutions and access points to encourage women towards formal financial services.

    — Women-centric products that cater to women‘s financial needs specifically while increasing financial literacy and awareness about women-centric product offerings.

    — Women’s champions and specialized resources at all customer touchpoints for a better customer experience.

    — Robust collection of gender-disaggregated data and target setting for informed policy interventions and post-launch monitoring & evaluation.

    — Policy forum on gender and finance to prioritize women’s financial inclusion, drive the agenda forward, and increase buy-in from multiple stakeholders for added momentum.

    The Policy has been developed after having extensive consultation with relevant stakeholders including domestic as well as international institutions, thought leaders and gender experts.

    The policy launch will be broadcast live on SBP’s Facebook page. Please follow SBP’s official (https://www.facebook.com/StateBankPakistan), Twitter handle (@StateBank_Pak) and YouTube channel to stay updated.

    President Alvi asks banks to support research students
  • President Alvi asks banks to support research students

    President Alvi asks banks to support research students

    KARACHI: The President of Pakistan, Dr. Arif Alvi Monday asked the banks to guide students in their conducting research studies.

    (more…)