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HYDERABAD, Feb 01 (APP):Following strong follow-up by the Hyderabad Chamber of Small Traders & Small Industry regarding the serious issue of unjustified and indefinite holding of funds in business accounts.
Vice President of the Chamber, Shan Sehgal, met Assistant Manager State Bank, Hyderabad, Adil Zahoor and apprised them of the difficulties being faced by traders and industrialists.
On this occasion, Vice President Shan Sehgal emphasized that holding legitimate business funds without written justification, regulatory reference, and a clear timeline not only disrupts business activities but also causes severe financial stress, cash flow problems, and loss of confidence among the business community.
Assistant Manager Adil Zahoor, assured the HCSTSI Vice President that such complaints would be taken very seriously and that strict action, including penalties, would be imposed if any commercial bank is found guilty. He further informed that the State Bank of Pakistan has already issued directions to all commercial banks to organize special awareness sessions at the Secretariat of the Hyderabad Chamber of Small Traders & Small Industry on Islamic banking, AML/CTF regulations, and other important banking matters to better educate traders about banking rules and procedures.
Shan Sehgal urged the State Bank to further expedite the resolution process of transaction-related issues faced by traders and industrialists and to protect legitimate business funds from unnecessary delays. Terming this development as encouraging, he stated that the Hyderabad Chamber will continue to raise its voice effectively on every relevant forum for the protection of the legitimate rights of its members. He expressed hope that the assurances given by the State Bank would lead to the early resolution of traders’ issues, restoration of business confidence, and promotion of overall economic reforms.