President Asif Ali Zardari has directed six banks to compensate 31 victims of bank fraud with financial relief totaling Rs24.136 million, following decisions by the Banking Mohtasib.
The president upheld the Banking Mohtasib’s rulings in favor of the affected customers, delivering justice after the banks challenged these decisions through separate representations.Â
The victims had initially approached their banks for redress after discovering fraudulent transactions but were denied relief.
The hearings, conducted at Aiwan-e-Sadr, involved detailed reviews of the cases, with the president finalizing decisions to ensure justice for the aggrieved parties. The move underscores the president’s commitment to providing prompt relief and accountability in financial matters.
Highlighting the critical role of the Banking Mohtasib, the president emphasized its importance in protecting citizens from financial fraud and maladministration by commercial banks.Â
He also praised the institution for offering a quick resolution to banking disputes, sparing victims the burden of prolonged legal processes.
President Zardari encouraged the public to leverage the services of the Banking Mohtasib for addressing issues related to banking fraud and disputes, ensuring that justice remains accessible and efficient.
