Traders urge Federal Banking Mohtasib to reduce duration of complaints registration

05 July 2022

PESHAWAR: Traders here on Tuesday urged the Federal Banking Mohtasib (Ombudsman) Pakistan to reduce the duration of complaint registration to 10 days, which is currently 45 days, in order to ensure swift disposal of cases against various commercial banks and to provide them speedy relief.

Banking Mohtasib of Pakistan should take notice of discriminatory attitude of commercial banks, which has caused huge financial losses on head of penalty and additional charges, the business community demanded.

The traders also complained about declaring Khyber Pakhtunkhwa into a ‘red zone’ by commercial banks, because of which, lending ratio is less than 2 per cent against the swelling deposits in the province.

Members of the business community made these remarks during a meeting, chaired by Sarhad Chamber of Commerce and Industry (SCCI’s) president Hasnain Khurshid Ahmad on the visit of Federal Banking Mohtasib (Ombudsman) Kamran Shehzad here at the chamber house.

Besides, former FPCCI president Ghazanfar Bilour, former presidents Riaz Arshad, Malik Niaz Ahmad, foremr senior vice presidents Engr Manzoor Elahi, Ziaul Haq Sarhadi, former vice president Abidullah Yousafzai, executive member S Minhajuddin, and Rashid Iqbal Siddique, Ihsanullah, Saddar Gul, Ishtiaq Muhammad, Fazal Wahid, Sohail Javed along with Senior Legal Advisor Federal Banking Mohtasib Saleem Akhtar, Regional Manager Peshawar Rehmatullah, a large number of industrialists, exporters, importers and traders were present during the meeting.

Hasnain Khurshid in his opening remarks said that the commercial banks were deducted interest on quarterly basis while the banks made payment of profits by end of the month, which, according to him, is a discrimination and unfair, so he urged, the Banking Mohtasib to take notice of it immediately.