Decisions Made on 31 Petitions Against Banking Ombudsman’s Rulings
ISLAMABAD ( WEB NEWS )
President of Pakistan Asif Ali Zardari emphasized the important role of the Banking Ombudsman in protecting citizens from commercial bank mismanagement and financial fraud, stating that the Banking Ombudsman is a key institution for the immediate resolution of complaints. The President directed six banks to provide relief of 24.136 million rupees to 31 victims of bank fraud and made decisions on 31 petitions filed against the Banking Ombudsman’s rulings.
According to the press wing of the President’s Secretariat, the President upheld the Banking Ombudsman’s decisions in favor of the fraud victims, reflecting his commitment to providing justice and prompt relief to the public. The President emphasized the Banking Ombudsman’s role in protecting citizens from mismanagement and financial fraud by commercial banks, noting that it provides timely justice to victims without the burden of lengthy legal procedures. He encouraged the public to use the services of the Banking Ombudsman to address banking disputes and fraud cases.
The President rejected the petitions filed by United Bank Limited and directed the bank to return 11.5 million rupees to 12 affected customers. He also instructed Muslim Commercial Bank to refund over 5.2 million rupees to 10 customers. Five petitions filed by Allied Bank Limited were also dismissed, and the bank was ordered to return over 4 million rupees to the affected customers. The President rejected three petitions filed by Bank of Punjab and directed the bank to return more than 2.3 million rupees to three affected customers. Additionally, the President ordered Askari Bank Limited to refund 490,000 rupees in one case, and Habib Bank Limited to pay 420,000 rupees in another case.
The details reveal that victims were deceived by fraudsters who posed as bank representatives and obtained sensitive banking details through fraudulent phone calls. After acquiring personal banking information, the fraudsters withdrew funds from the victims’ accounts. When the victims approached the banks for the return of the stolen money, they were denied relief, prompting them to seek assistance from the Banking Ombudsman. The banks challenged the Ombudsman’s decisions by filing separate petitions with the President. After hearing the cases and reviewing the relevant records, final decisions were made.