KARACHI – The duration for resolving the complaints lodged by customers of banks has been reduced to 30 days in order to provide relief to customers at the earliest.
Previously, under the Banking Companies Ordinance of 1962, banks were required to resolve complaints within 45 days.
The customers can move the Banking Ombudsman of Pakistan if their complaints are not addressed by the banks within the given time period.
Before lodging a complaint with ombudsman, the complainant must first request the concerned bank to address their issue. If the bank fails to respond or provides an unsatisfactory response within the prescribed 30-day period, the complainant can file a complaint against the bank at any time within the next 30 days.
However, if the Banking Ombudsman is satisfied that there are valid reasons for the delay in filing the complaint, the delay may be overlooked and the complaint will be entertained.
