MULTAN, Jan 24 (APP):Chief Manager State Bank of Pakistan (SBP), Multan, Javed Iqbal Marth has said that the central bank has prepared a software application to enable account holders to file complaints against banks.
He was speaking at a ceremony organized by the Multan Chamber of Commerce and Industry (MCCI) with industrialists notably MCCI president Mian Rashid Iqbal, former president Khawaja Muhammad Hussain, Naveed Ahmad Chughtai, Saleha Hassan, and others were present, according to a release issued by MCCI on Wednesday.
The SBP Multan chief said that account holders mostly do not speak against banks despite having complaints, however, added that the new software application would facilitate them to do so whenever they have any problem relating to the bank and it would trigger a process to resolve their grievances.
He said, no bank has ever usurped account holders’ money, even in case of default, due to stricter policies and monitoring by the State Bank of Pakistan.
He said that ongoing political activity and subsequent take-over by an elected government in the wake of the February 8 general elections would hopefully further improve economic conditions in the country substantially.
He said that SBP fixed the ceiling of auto financing to Rs 3 million adding that the earlier liberal financing had turned banks into showrooms and supermarkets and resulted in increasing national oil import bill and burdened highways and city roads with unbearable loads of vehicles.
Marth said that SBP facilitated a number of ordinary people particularly women and extended small loans to them at their doorstep during the last few years. Moreover, disabled persons also received small loans to begin their businesses and earn livelihood in a dignified manner.
MCCI president Mian Rashid Iqbal, speaking on the occasion, said that a help desk was set up by SBP with an additional director exchange policy department as its focal person to resolve problems concerning Letters of Credit (LCs) and asked SBP Multan chief to set up a similar help desk at Multan to resolve problems concerning LCs at local level.
He also requested the top SBP Multan banker to enhance the period from 90 to 365 days for payment of mark up under SBP short term financing facility. He further demanded that payment of mark up worked out this year be deferred to next year for payment in four instalments.
