135pc increase in number of complaints lodged with banking Mohtasib Pakistan

Karachi, April 16, 2021: Over 135percent increase has been observed in the number of complaints lodged with the Banking Mohtasib Pakistan against the alleged frauds, forgeries and other irregularities during the first quarter (1st January to 31st March, 2021) of the current calendar year (2021) as compared to the same period of last year (2020). 

Almost 11,732 complaints were received by the Banking Mohtasib Secretariat from 1st January to 31st March, 2021 as against 4,994 complaints received in the same period of last year depicting an increase of 135%. These also include 7,595 complaints received on Prime Minister’s Portal relating to banking issues as compared to 1,411 complaints received during the first quarter of previous year i.e. 2020, according to the First Quarterly Newsletter of the Banking Mohtasib Pakistan published today (April 16, 2021). Out of the total 11,732 complaints, 5,375 complaints were received in the month of March only, which is the highest figure of complaints recorded in a single month since the inception of Banking Mohtasib Pakistan Office in 2005. 

The increase in the number of complaints indicates that the general public feels that their genuine grievances will be resolved amicably by the Banking Mohtasib Office. The Banking Mohtasib Secretariat disposed of 4,672 complaints from 1st January to 31st March, 2021 out of which only 2% of complaints were resolved through formal orders while remaining 98% of complaints were resolved amicably. By disposing of these complaints, the Banking Mohtasib Office has provided monetary relief amounting to Rs 132.62 million to the banking customers during the first quarter of 2021. 

The Banking Mohtasib Pakistan, Mr. Muhammad Kamran Shehzad has urged the general public not to disclose their personal and financial credentials to any person in order to protect themselves from any fraud, forgeries etc.

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