September 20, 2023
Banking Pakistan

Mohtasib Gives Rs1bn Relief

The Banking Mohtasib Pakistan (BMP) gave customers consolation of Rs974.36 million by settling 27,658 objections against commercial banks in 2022, an announcement said.

BMP Kamran Shehzad said that out of 35,265 objections, 21,822 (79 percent) were settled amicably through reconciliation, 734 (3 percent) objections were agreed on after formal hearings while 5,102 (18 percent) lawsuits were disposed of rejected for being incomplete, foolish or due to lack of jurisdiction as per statute under which the organization of Banking Mohtasib has been founded, while 7,607 objections stayed tremendous as on December 31, 2022.

Disclosing the annual report 2022, he said that 30,493 objections were obtained during the year 2022 whereas 4,772 objections were brought ahead from 2021. He further said that the ombudsman furnished relief of Rs709 million by disposing of 32,592 objections 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.

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