OF SBP COMMITTEE FOR RESOLUTION OF DISPUTES BETWEEN BORROWERS
number of complaints from borrowers of different banks have
been received wherein it has been pointed out that banks
are compounding mark up, in violation of guidelines issued
by SBP for elimination of ‘riba’ from the Banking System.
In order to resolve such issues promptly, SBP, in exercise
of its powers vested under section 41 of BCO 1962, has decided
to constitute a “Resolution Committee” (RC) under the chairmanship
of Director, Banking Policy Department, and comprising of
A representative from Banking Inspection Department
of SBP who will be a Chartered Accountant – (Permanent Member)
A representative of the concerned bank – (Revolving
A Chartered Accountant from the Chartered Accountancy
firm listed on the panel of SBP to represent the borrower
– (Revolving Member).
Joint Director Complaints Cell, SBP Member/Secretary.
Committee will examine the complaints falling in its purview
and shall decide the issues in terms of guidelines issued
by SBP from time to time. The decision of the committee
will be binding on the bank and complainant/borrower.