State Bank of Pakistan has witnessed an unprecedented growth in consumer banking, which has led to manifold increase in the grievances of consumers against the products and services of banks/DFIs. In order to deal effectively with the growing consumer grievances and to put in place a befitting policy and regulatory mechanism for their redressal, it has been decided to create a new department viz. Consumer Protection Department. In addition to dealing with consumers/public grievances/complaints, the newly created department shall also handle the operations of Credit Information Bureau (CIB)

2. The banks/DFIs are advised to henceforth address all their reports relating to Credit Information Bureau (CIB), complaints and appeals against the order passed by the Banking Mohtasib to the Consumer Protection Department

3. Please acknowledge receipt.