President lauds private bank for avoiding undue litigation in disputed transaction cases.
ISLAMABAD -- While disposing of five separate representations of a private bank against the decisions of the Banking Mohtasib, President Dr Arif Alvi has appreciated the bank's policy of settling the grievances of customers and implementing the ombudsman's decisions, thus, saving the public's time and expenditure, and avoiding undue litigation.
He urged the private banks of the country to provide timely relief to victims of bank frauds, comply with the State Bank of Pakistan's regulations, and save the time of public institutions and other forums of justice by avoiding unnecessary litigation, thus, saving their own time and resources.
The president in his five separate decisions appreciated Habib Bank Ltd (HBL) for settling the cases of disputed banking transactions through mutually agreed settlements and paying its customers their lost amounts under its positive pro-people banking policy.
In his decisions, he observed that as HBL had already paid the disputed amounts to its customers and the matters had been amicably resolved, therefore, the representations filed by HBL against the decisions of Banking Mohtasib had become infructuous.
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