The lending risks faced by banks need to be reduced through the use of the latest technologies and by updating banking policies and practices in Pakistan. Additionally, more congenial prudential regulations are required to strengthen financial intermediation and lend to the most productive segments of the economy to reduce imports, boost exports, and build foreign exchange reserves. However, under the present fragile, fluid and uncertain environment, it would be unfair to expect that banks and other financial institutions will perform well. Therefore, efforts are being made by banks, encouraged by the central bank and prompted by the sector’s ombudsman, to improve their operational efficiency and customer services. Notable progress is visible in digitalized banking, aimed at strengthening the financial intermediation in the country in the pursuit of equitable and sustainable development. To ensure quick disposal of cases and provide speedy relief to complainants, the Banking Mohtasib Pakistan office has introduced an online portal and a mobile app for the lodging and tracking of complaints. Efforts are primarily directed towards resolving disputes amicably through an informal and friendly process of reconciliation, while BMP takes no sides. In view of the dwindling foreign exchange reserves, central bank interventions in the currency markets have become more frequent, but more needs to be done to boost exports, reduce dependence on imported goods, and build forex reserves.
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God help Pakistan to get out of this trouble. love from india to pakistan
THE ONLY TRUSTED AND GUARANTEED RECOVERY EXPERT TODAY (MR MORRIS GRAY)
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