The State Bank of Pakistan (SBP) on Tuesday released the draft Business Conduct and Fair Treatment of Consumers Regulatory Framework (BC&FRF), designed to enhance consumer protection and ensure fair treatment in the financial sector.
The framework sets out principles and rule-based instructions to promote responsible business conduct, accountability, and transparency among banks, non-banking financial institutions, and other regulated entities.
According to the SBP, the framework seeks to ensure that all consumers are treated with respect and fairness, and that financial services are delivered in a transparent manner. It covers aspects such as complaint handling, disclosure requirements, ethical conduct, and the obligations of financial institutions toward their clients.
The central bank emphasised that public consultation is a cornerstone of the regulatory process, allowing consumers, industry stakeholders, and the general public to provide feedback that will inform the final version of the framework. The draft has been uploaded on the SBP’s official website, and comments will be accepted until September 30, 2025.
The SBP encouraged individuals and organisations to submit suggestions and observations, highlighting that stakeholder engagement is critical for establishing effective consumer protection standards in Pakistan’s financial sector.
