The Banking Ombudsman of Pakistan has revised regulations to require banks to respond to customer complaints within 30 days, down from the previous 45-day window.
According to the Banking Ombudsman of Pakistan, customers now have the option to approach the Banking Mohtasib (Ombudsman) for further action if a bank’s response remains unsatisfactory or delayed, with an additional 30-day period to file a complaint after the bank’s response.
Under the updated rules in the Banking Companies Ordinance, 1962, Section 82D now mandates that banks address grievances within a month, with the ombudsman authorized to accept delayed complaints if valid reasons are presented. The revised guidelines were published in Pakistan’s official Gazette.
The Banking Mohtasib’s office has resolved 18,836 complaints in the first nine months of 2024, providing over Rs1.06 billion in monetary relief. This was an increase over the previous year’s Rs972.33 million relief for 18,431 complaints during the same period.
Highlighting rising fraudulent activities, the Banking Mohtasib, Sirajuddin Aziz, advised customers to safeguard their personal and financial information.Â
He warned against sharing details with third parties or clicking on unverified links, urging customers to report any suspicious calls to their banks or the FIA Cyber Crime Wing.
