In terms of CPD Circular Letter No. 1 of 2008 Consumer Protection Department was established in State Bank of Pakistan (SBP) for effective handling of consumer grievances and e CIB operations. However, with the paradigm shift in Consumer Protection both in local as well as international landscape, SBP has envisioned to enhance its existing focus on regulation and supervision of business conduct of banks.
2. With the strategically enhanced role to regulate business conduct of banks ensuring that the consumers get fair & transparent banking deals and the banks grow responsibly in a sustainable manner, the name of Consumer Protection Department (CPD) has been changed to Banking Conduct & Consumer Protection Department (BC&CPD) with immediate effect.
3. The banks/DFIs/MFBs are advised to henceforth address all conduct related correspondence to the Director, Banking Conduct & Consumer Protection Department.
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