SBP has launched Customer Complaints app Sunwai for General Banking Complaints and Complaints for Roshan Digital Accounts. This app makes it easy for the public to register complaints about banks, MFBs, and DFIs according to the law. Customers can download it on Google Play and the App Store. Users register with personal details to lodge complaints. It simplifies reaching redressal forums and directs complaints to banks/MFBs/DFIs, the Banking Mohtasib Pakistan, and sometimes the State Bank of Pakistan.
Mechanism for Addressing General Banking Complaints:
Ensuring Fair Treatment of Consumers (FTC) and promoting responsible banking conduct stands as a primary regulatory focus for the SBP. Within the realm of banking conduct and the FTC framework, an efficient grievance handling system holds significant weight. Banks, MFBs, and DFIs serve as the initial platforms for resolution in line with global best practices and local legal parameters. SBP has implemented several measures to bolster responsible complaint management across these financial institutions.
In accordance with the relevant provisions of the Banking Companies Ordinance (BCO) 1962 and the Federal Ombudsman Institutional Reform Act (FOIRA) 2013, the Banking Mohtasib of Pakistan (BMP) acts as the secondary avenue for addressing consumer grievances. As per the regulations, if a complainant doesn’t receive a response from the bank within 45 days or finds the response unsatisfactory, they have the right to file a complaint with the BMP using the prescribed channels. The BMP’s contact details are as follows:
Banking Mohtasib Pakistan
Shaheen Complex, 5th Floor
M. R. Kiyani Road, P.O Box 604, Karachi
[Banking Mohtasib Pakistan Website]
For MFBs, not covered by BMP, SBP serves as the secondary channel for redressal in such cases. Similarly, matters of regulatory concern or urgency are also addressed by SBP.
As per the FOIRA provisions, any individual or party aggrieved by a decision, order, findings, or recommendations of the BMP may submit a representation to the President within thirty days of the said decision, order, findings, or recommendations.
Handling Complaints for Roshan Digital Accounts:
Roshan Digital Account (RDA), introduced in September 2020, represents a significant initiative by the State Bank of Pakistan (SBP) in collaboration with RDA Banks. It facilitates Non-Resident Pakistanis in remotely opening accounts with Pakistani banks using a digital process.
To enhance service delivery to RDA customers and effectively address their banking concerns, SBP has developed a complaint management portal. This portal allows RDA customers to easily lodge complaints with a tracking facility and SBP oversight. Initially launched as an online portal, it will soon be available as a mobile app.
The bilingual portal, available in Urdu and English, streamlines the complaint registration process for RDA holders. After a simple registration or signup process, complainants can lodge their grievances against concerned RDA banks through this portal. Each complaint will receive a unique ID for tracking purposes, enabling complainants to monitor progress and provide feedback on how their issue was resolved. Furthermore, complainants will receive updates on their complaint status through SMS and emails.