Banking Mohtasib Provides Relief of Over Rs 1.65Bn to Banking Customers in 2024

KARACHI: The Institution of Banking Mohtasib Pakistan (BMP) has provided relief amounting to Rs 1.65 billion to the Banking Customers by disposing of 27,753 complaints against commercial banks during the calendar year 2024 as compared to monetary relief amounting to Rs 1.26 billion provided during the year 2023 by resolving 25,493 complaints.

Addressing a press conference in Karachi today, the Banking Mohtasib Pakistan, Mr. Sirajuddin Aziz mentioned that after addition of left-over complaints of last year (2023) and those received during the year (2024), 41,546 complaints in total were dealt during the year.

Out of 27,753 complaints disposed of during the year, 24,498 complaints were resolved amicably through reconciliation, while 1,330 (5%) complaints were decided after record formal hearings held at various centres of the country, including Mirpur (AJK) where Banking Mohtasib does not have a regular office, and 1,925 (7%) complaints were disposed of / rejected being incomplete, frivolous or due to lack of jurisdiction of Banking Mohtasib.

He pointed out that relief of around Rs 8 billion was provided to the Customers by the Banking Mohtasib Office since its inception in 2005. While releasing the Annual Report of BMP for the year 2024, he explained that there was an increase of 6% in public complaints lodged with BMP Office against commercial banks during the year 2024 as compared to the year 2023.

Mr. Sirajuddin Aziz added that complaints received through Prime Minister’s Portal during the year 2024 worked out to 7,193. “Efforts are made to dispose of complaints expeditiously, however, 3,283 complaints received during last 45 days of the year, 2024 have resulted in an overall increase in complaints brought forward for next year (2025)”, he added.

He pointed out that there was a massive surge of complaints during the year 2024 due to increasing use of digital and electronic platform and the growth in Mobile and Digital application has also led to increase in the number of frauds.

During the year major increase was seen in complaints of frauds and cases of Account Blockage by banks on one pretext or the other. The other factor of increase in complaints relates to service inefficiency of banks. Attention of respective stake holders and the State Bank of Pakistan has been drawn towards these drawbacks, the Banking Mohtasib added.

Mr. Sirajuddin Aziz said that recently created Digital Banks have also been placed under the ambit of Banking Mohtasib Office which requires adoption of additional measures, besides more staff who should be fully equipped with Fintech operations and related technologies.

The Banking Mohtasib added that in compliance with the legal requirements, the Banking Mohtasib’s Annual Report 2024 was presented to the Governor, State Bank of Pakistan on 27th March, 2025.

Mr. Sirajudddin Aziz said that the efforts of banks to meticulously educate public through electronic and print media to protect them from frauds and forgeries have failed to bring effective results. As such these efforts are to be redoubled on collective basis and spreading messages to masses, particularly in rural areas of the country, is urgent need of the hour to protect the customers from fraudsters.

For the purpose, besides national languages, the messages should also be conveyed to the general public in regional languages to ensure substantive, meaningful and effective steps for foolproof security of the customers’ deposits.

Earlier, Mr. Sirajudddin Aziz while welcoming the representatives of print and electronic media praised their support for creating awareness about the grievances of general public with regard to issues concerning the public viz-a-viz the commercial banks.