The Banking Mohtasib Pakistan (BMP) has reported a significant rise in customer complaints in 2024, with the institution providing Rs1.65 billion in relief to banking customers during the year. The surge in complaints, particularly related to fraud and account blockages, reflects the growing challenges posed by digital banking platforms.
During a press conference, Banking Mohtasib Sirajuddin Aziz revealed that complaints against commercial banks had increased by 6% in 2024 compared to the previous year. In total, 41,546 complaints were addressed, with Rs8 billion in relief provided to customers since the BMP’s inception in 2005.
The primary drivers of the increased complaints were the growing use of digital banking applications, which have led to a rise in fraudulent activities.Â
Aziz noted that despite banks’ attempts to educate the public through media campaigns, the results have been ineffective, particularly in rural areas.Â
He stressed the need for banks to intensify their efforts, including delivering educational messages in regional languages, to better protect customers from fraud.
The relief provided in 2024 was higher than the previous year’s Rs1.26 billion, which was issued following the resolution of 25,493 complaints.Â
Aziz stated that a significant portion of the complaints, 24,498, were resolved through reconciliation, while 1,330 complaints were settled after formal hearings, and 1,925 were dismissed due to lack of jurisdiction or incompleteness.
The Banking Mohtasib also highlighted the inclusion of newly established digital banks under its jurisdiction, which has necessitated additional resources and staffing trained in fintech operations.Â
Aziz urged that the regulatory body remain vigilant as digital banking continues to grow.
