ISLAMABAD: President Asif Ali Zardari has ordered six banks to provide financial assistance of Rs 24.136 million to 31 victims of bank fraud.
He issued these instructions while deciding 31 suits filed against the decisions of the Bank Mohtasib.
The President upheld Mohtasib’s decision in favor of the victims and ensured justice for defrauded bank customers, a press release from the President’s office said.
Twelve objections filed by United Bank Ltd (UBL) were dismissed, with the bank ordered to compensate the victims with an amount of Rs 11,570,191. In ten cases, Muslim Commercial Bank (MCB) was directed to return Rs 5,291,500.
Five objections filed by Allied Bank Ltd (ABL) were dismissed and the bank ordered to refund Rs 4,049,742 to affected customers. Three representations of Bank of Punjab (BOP) were also rejected, ordering the bank to return Rs 2,315,000. Askari Bank Ltd was ordered to refund Rs 490,000 in one case, while Habib Bank Ltd (HBL) was instructed to pay Rs 420,000 to a customer in another case.
Victims were defrauded by individuals posing as bank representatives, who obtained sensitive bank details through deceptive phone calls and then siphoned funds from their accounts. After discovering the fraudulent transactions, customers approached their banks for redress but were not denied relief. The affected parties then sought relief through the Bank’s Mohtasib, who ruled in their favour. In response, the banks filed separate statements with the president challenging the decisions.
Hearings were conducted at the Aiwan-e-Sadr and final decisions were rendered after hearing the appellants and respondents and perusing the relevant record. The decisions reflect the President’s commitment to ensure justice and speedy relief to the people.
The President also highlighted the key role played by Banking Mohtasib in protecting citizens from commercial bank malpractice and financial fraud. He said that Banking Mohtasib is a vital institution for speedy redressal of grievances which offers timely justice to the victims without the burden of lengthy legal procedures.
The President also urged the public to use the services of Banking Mohtasib to resolve banking disputes and fraudulent activities.
