State Bank of Pakistan has taken several measures to redress Public grievances against banks/DFIs viz. (i) issuance of instructions to banks to setup complaint resolution mechanism, (ii)establishment of Banking Mohtasib and (iii)providing redressal through dedicated Redressal Division at Consumer Protection Department. In order to provide general awareness to the public and consumers of banks/DFIs at large, the procedural requirements for each level is being provided below for information.
Complaint Resolution at Banks & DFI’s
Detailed guidelines have been issued to the banks/DFIs vide BPD Circular No. 17 dated 23rd June, 2004 (http://www.sbp.org.pk/bpd/2004/C17.htm) to handle the complaints in an efficient and effective manner. Every bank is required under these guidelines to have a Complaint Resolution Unit/ Department. The banks/DFIs are required to devise a system for redressal of the complaints in an appropriate and courteous manner and the reply to the complainant must be clear and indicate the reasons/rationale of the decision being conveyed to him/her. The banks/DFIs are also required to respond to the complaints within a period of 10 working days. However, in any case, the final reply is to be sent within a period not exceeding 45 working days, barring cases where reasonable grounds exist on record for not complying within the prescribed time period.
Any consumer having grievances/issue with his/her bank can lodge a complaint to that bank and the bank is bound to provide redressal within prescribed time.
Banking Mohtasib Pakistan
The office of Banking Mohtasib was established under the provisions of Banking Companies Ordinance 1962 and has started functioning since May 2, 2005. The purpose of setting up Banking Mohtasib Office was to provide cost effective, efficient and transparent mechanism to resolve customer banker disputes. The Banking Mohtasib has been granted wide powers under the provisions of law to decide on issues of conflict between banks and their customers. Any person not satisfied with the resolution provided by his/her bank can lodge complaint with Banking Mohtasib. The address of the Banking Mohtasib is as under:-
The Banking Mohtasib Pakistan,
Banking Mohtasib Secretariat,
5th Floor. Shaheen Complex,
P.O. Box No. 604,
M.R. Kayani Road,
Karachi.
Tel:- 9217334 to 39 (6 lines)
URL:- www.bankingmohtasib.gov.pk
e-mail:- [email protected]
Redressal at State Bank of Pakistan
State Bank of Pakistan has created a new department viz. Consumer Protection Department to redress public grievances against banks/DFIs. A simplified procedure to lodge a complaint with State Bank of Pakistan is enumerated below.
- Initially, the complainant shall bring his grievance(s) in the knowledge of concerned bank/DFI and shall wait for their response, if any, for a maximum period of 45 days.
- If the bank/DFI is unable to resolve the issue satisfactorily within the time stipulated above the complainant may then lodge his complaint either with Banking Mohtasib or SBP. However, complainants are encouraged to approach Banking Mohtasib first.
- A complaint lodged with State Bank of Pakistan shall be processed as under:-
- The comments/views/feedback of concerned banks/DFIs shall be sought in the first instance. The same shall be reviewed for deciding further course of action in light of rules, regulations and banking practices.
- The issues pending/involving litigation shall not be entertained.
- In order to further facilitate general public a Complaint lodgment page has been provided on SBP website through which they can send their complaints against banks/DFIs to SBP. The address is http://www.sbp.org.pk/cpd/complaints.asp. Reply to complainants is sent via email to the email address provided by them.
The complainant before lodging a complaint to SBP shall ensure that:-
- The case is not pending with any legal forum.
- The case pertains to banks/DFIs regulated by SBP. In this regard, it is informed that complaints against NBFCs including Investment banks, Leasing Companies Modarbas etc. or Stock Exchanges do not fall under the purview of State Bank of Pakistan.
- All relevant record/evidences/correspondence with the bank/DFI is attached with the complaint.
- Telephone No., address, e-mails (if available), CNIC No. shall invariably and clearly be mentioned on the complaint and complaint must be signed properly.
The customers may lodge their complaints to SBP through website or through surface mail addressed to the Director, Consumer Protection Department in writing at the following address:-
The Director,
Consumer Protection Department,
State Bank of Pakistan
5th Floor, I.I. Chundriger Road,
Karachi
Guidance to lodge an appeal against the decision of Banking Mohtasib
State Bank of Pakistan under the provisions of law is the Appellate Authority against the orders passed by Banking Mohtasib. Any complainant aggrieved by an order passed by the Banking Mohtasib may file an appeal with State Bank of Pakistan as per the provisions of law. The procedure to file an appeal is enumerated below:-
i. The appeal should be addressed to the Governor, SBP and it should be sent alongwith supported evidences and documents within 30 days of the orders passed by the Banking Mohtasib. Any appeal which is not maintainable in law or is time barred shall be dismissed in limine.
ii. The appellant should focus on the issue at hand and avoid digression in appeal.
iii. Hiring the services of legal experts to pursue an appeal is neither mandatory nor required under the provisions of law. The appellant can file his/her appeal by himself/herself.
iv. The process of deciding the appeals is time consuming and requires thorough investigation including calling of views from respondents, onsite investigation and in-person hearings etc. Therefore, the appellants are advised to be patient and avoid unnecessary correspondence. They will be updated on the status of their appeal at regular intervals.
v. The final decision on the appeal shall be communicated as soon as the appeal is finalized.
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