The Banking Ombudsman Pakistan has announced providing relief of over Rs. 1.24 billion to bank consumers in 2023, by addressing 25,493 complaints against commercial banks.
During a press conference at the Institute of Bankers Pakistan her on Monday, Sirajuddin Aziz, the Banking Ombudsman Pakistan, revealed that out of 36,437 complaints received during the year, 21,886 (86%) were resolved through mutual understanding, while 676 (3%) were decided after formal hearings.
Additionally, 2,931 (11%) complaints were rejected due to incompleteness or lack of jurisdiction. Aziz highlighted that the Banking Ombudsman Pakistan has facilitated nearly Rs. 6.40 billion in compensations to bank consumers since its establishment in 2005.
The annual report for 2023 was presented to the President of Pakistan, ArifAlvi, on April 19, 2024. President Alvi commended the Banking Ombudsman Pakistan for its commitment to providing pro bono services to bank consumers and promoting good governance. Sirajuddin Aziz emphasized the need for prompt resolution of public complaints and stressed the importance of implementing legal requirements.
SirajuddinAzizurged banks to launch a comprehensive public awareness campaign via electronic and print media to safeguard consumers from fraud and deception. Sirajuddin Aziz also revealed plans to initiate a robust public awareness campaign in regional languages to protect consumers from fraudulent activities.
