3 Steps to Fix your Bank Problems with Banking Mohtasib

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fix your bank problems

Is your bank involved in malpractices when dealing with you? Is your bank being unfair and treating you with discrimination? Do you feel your bank is unable to do anything about the operational issues and inefficiencies? Is your bank violating Banking Laws and Regulations? Is your bank harassing you in Recovery of Loans? Good thing banking mohtasib is there to fix your bank problems.

If you are facing issues with your bank about any of the above mentioned problems. Or your bank is not paying attention to your complaints then you need to contact the banking mohtasib to resolve your bank complaint.

What is Banking Mohtasib?

Banking mohtasib in Pakistan is an autonomous organization established by law. It is an independent and impartial institution for the provision of free and quick services to the complainants against commercial banks in Pakistan.

Types of Complaints Banking Mohtasib Addresses?

The banking mohtasib entertains the following types of complaints:

  1. Complaints against scheduled banks operating in Pakistan. Even banks may file complaints against another bank in case of dispute.
  2. If your complaints have been rejected by your bank it can still be entertained by the Banking Mohtasib if the records belonging to your issue have not been destroyed by the bank as per its laid down record destruction policies.
  3. The mohtasib will address the complaints regarding violation of banking laws and regulations, excessive operational delays, inefficiency in operations, provision of poor service and discriminatory actions.

Complaints Banking Mohtasib Doesn’t Entertain

  1. The banking mohtasib cannot order any bank to provide loans or credit cards to a user.
  2. They have no jurisdiction to judge a complaint pertaining to a bank’s mark-up, waivers or write-off policy, risk policy, and schedule of charges.
  3. They do not entertain complaints that are not filed by the aggrieved parties.
  4. The mohtasib will not address to the issues pertaining to the service of bank employees and officers
  5. They will not accept complaints decided by the SPB or pending a decision or has been decided by a Court of Law.

Banks Not Covered Under Banking Mohtasib

You can’t file a complaint against:

  • State Bank of Pakistan
  • Micro Finance Banks
  • Investment Companies
  • Investments Banks
  • Insurance Companies
  • Mutual Funds Companies
  • Venture Capital Companies
  • Leasing Companies
  • DFIs
  • National Investment Trust
  • Housing Finance Companies
  • Overseas Branches and Subsidiaries of Pakistani banks.

How to File a Complaint with Banking Mohtasib?

There is a procedure to file a complaint with the banking mohtasib. The process is as follows:

  1. First you have to write to your bank regarding your issue. You will have to mention in your complaint that if your issue is not resolved to your satisfaction, you will refer the matter to the banking mohtasib. Keep a record of all your correspondence with the bank and see if your bank resolves your issue within 45 days of your complaint.
  2. If in these 45 days the reply you receive from your bank is not satisfactory or the issue persists, you can file a complaint with banking mohtasib using this form.
  3. You need to duly fill and sign the complaint form and attach your complaint application with it. Make sure the complaint form is attested by an Oath Commissioner. Make sure you attach photocopies of correspondence with bank and an attested valid copy of your CNIC. Mail everything to:

Banking Mohtasib Pakistan
Shaheen Complex
5th floor, M R Kiyani Road
Karachi.

You can also submit your application to one of the banking mohtasib’s offices, but the complaint handling process is centralized at Karachi office. If they want to meet you in-person, you will be called to the nearby office of the mohtasib. There are no fees for filing a complaint.

We find that it’s usually enough to mention to the bank staff that you are going to the banking mohtasib for them to adjust their attitude and provide service to customer.

What Are The Next Steps After Complaint Filing?

After you have filed the complaint, the banking mohtasib will evaluate the complaint. In this process they may contact both you and your bank if it needs any additional information. They may also visit the bank against which you have filed a complaint. If a complaint is found to be unjust, the mohtasib will inform you (the claimant) and close the case. If your complaint is found to be genuine, they will form a process of arbitration to achieve an agreeable resolution between you and your bank. In case the matter cannot be resolved agreeably, the banking mohtasib will pass a suitable order asking the bank to set right the situation or make good your loss.

Duration of Complaint Solution Process

Banking mohtasib efforts to resolve most of the complaints within two months, however it depends on the completeness of the complaint and the record provided by the complainant and the bank against which the complaint is filed.

What to Do If You Are Unhappy with a Decision of The Banking Mohtasib?

If someone is unhappy with the decision s/he can appeal to SBP within 30 days of decision. And, if they don’t want to, then they can go to the courts.

On the other hand, if a bank wants to appeal against the decision, then it too can appeal within 30 days of decision. On the other hand, if the bank doesn’t want to appeal against it then it must implement the changes within 40 days.

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Bilal is a banker, YouTuber and a tech enthusiast. He holds an MBA degree and has over five years of diversified experience in Telecom, auditing and financial services. He has a keen interest in tech coupled with sound knowledge of financial services in Pakistan. His contribution to TechVise Pakistan will be based on his personal experiences as well as detailed knowledge about technology, financial services and online shopping in Pakistan.

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