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Banking Mohtasib provided relief worth Rs 709 million in fraud cases, president told

ISLAMABAD, Pakistan: The Banking Mohtasib of Pakistan (BMP) Muhammad Kamran Shehzad called on President Dr. Arif Alvi and presented the Annual Report-2021 at Aiwan-e-Sadr in Islamabad on Thursday.

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The Mohtasib briefed the President about the performance and achievements of his organization. He informed that BMP has provided relief worth Rs 709 million to account holders in over 37,000 cases related to banking frauds during last year.

President Arif Alvi expressed satisfaction over the performance of BMP and emphasized the need for the implementation of the decisions of the Mohtasib to ensure the provision of speedy provision of justice to bank customers.

The Banking Mohtasib briefed that during the year 2021, 33,196 new complaints were received while 4,168 outstanding complaints were carried forward from the previous year.

Kamran Shehzad highlighted that out of the total 37,364 complaints, over 18,000 complaints were received through the Prime Minister’s Pakistan Citizen Portal. He added that out of the total 37,364 complaints, 25,231 complaints were resolved amicably through reconciliation while 437 complaints were decided after formal hearings.

It was apprised that 87% of the total complaints were disposed of during the previous year and efforts had been made to improve the existing complaint management system to make it capable of incorporating 100% of complaints.

Appreciating the performance of BMP, the president said that the institution of Banking Mohtasib was playing a valuable role in providing inexpensive and expeditious justice to victims of bank fraud, particularly in cases involving electronic funds transfer scams.

President Arif Alvi underlined the need to create awareness through media about the services being provided by the Banking Mohtasib so that the maximum number of people could benefit from its services against the maladministration of bank officials.

The president assured the Mohtasib of his support in further strengthening the institution to quickly redress the grievances of the accountholders.

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