In a major achievement for consumer protection, the Banking Mohtasib of Pakistan resolved 27,753 complaints in 2024, offering financial relief of Rs. 1.65 billion to affected bank customers. This reflects a substantial increase compared to 2023, when 25,493 complaints were resolved with Rs. 1.26 billion in customer relief.
Rising Complaints, Stronger Resolution
During a press conference held in Karachi, Banking Mohtasib Sirajuddin Aziz shared annual performance statistics. He revealed that the total number of complaints received in 2024—including pending complaints from 2023—stood at 41,546. Out of these, the office successfully decided 27,753 cases.
The report also showed a growing trend in customer engagement with the institution, highlighting its growing credibility among banking consumers nationwide.
Majority Resolved Through Mutual Understanding
Of the total complaints resolved, 24,498 cases (88%) were settled through mutual understanding between banks and complainants. Another 1,330 complaints (5%) were resolved through formal hearings. The office conducted record numbers of hearings in various cities, including Mirpur in Azad Jammu & Kashmir—where no formal Banking Mohtasib office currently exists.
This outreach reflects the office’s commitment to ensuring justice for bank customers across all regions of the country.
Read: Sindh Targets 10.6 Million Children in New Polio Campaign
Dismissed Cases and Jurisdiction Limits
However, 1,925 complaints (7%) were dismissed. These were either incomplete, irrelevant, or outside the legal jurisdiction of the Banking Mohtasib’s office.
The Mohtasib reiterated that the institution strictly operates within its legal mandate and does not entertain cases that fall outside its purview.
A Growing Role in Financial Accountability
The sharp increase in resolved cases and relief provided indicates the growing role of the Banking Mohtasib in promoting financial accountability and protecting customer rights. It also reflects improved efficiency and outreach in addressing consumer grievances within the banking sector.
Sirajuddin Aziz emphasized that maintaining transparency and quick resolution remains the cornerstone of the Mohtasib’s strategy. He encouraged citizens to approach the office with valid complaints, assuring them of impartial hearings and timely decisions.
As the financial landscape evolves and digital banking increases, the Mohtasib’s role in safeguarding consumer interests becomes even more critical. The institution’s efforts in 2024 demonstrate its commitment to enhancing trust between the public and financial institutions in Pakistan.
Follow us on Google News, Instagram, YouTube, Facebook,Whats App, and TikTok for latest updates
