ISLAMABAD: President Asif Ali Zardari has instructed six banks to provide financial compensation totaling Rs24.136 million to 31 victims of bank fraud, following the decision of the Banking Mohtasib.
According to Radio Pakistan, the President upheld the Banking Mohtasib’s decisions that favored the defrauded customers, ensuring justice for those impacted. The victims were deceived by individuals impersonating bank representatives, who extracted sensitive banking information through deceptive phone calls and subsequently withdrew funds from their accounts. When the victims approached their respective banks for redress, they were initially denied relief, prompting them to seek the intervention of the Banking Mohtasib, which ruled in their favor.
Despite the favorable rulings, the banks challenged the Mohtasib’s decisions by filing representations with the President. Hearings conducted at Aiwan-e-Sadr involved careful consideration of the arguments from both petitioners and respondents, leading to the President’s decision to uphold the Mohtasib’s rulings. This move underscores the President’s dedication to delivering justice and prompt relief to those affected by financial fraud.
President Zardari highlighted the essential role of the Banking Mohtasib in protecting citizens from the mismanagement of commercial banks and financial deception. He emphasized that the Mohtasib serves as a crucial mechanism for the expedited resolution of complaints, providing victims with timely justice without the complexities of extended legal proceedings. The President encouraged the public to leverage the services of the Banking Mohtasib to address banking disputes and fraudulent activities effectively.