President rejects UBL's appeal against ombudsman's decision.

ISLAMABAD -- President Dr Arif Alvi has imposed a fine of Rs20,000 on United Bank Limited (UBL) over filing a frivolous representation in a disputed transaction case involving a mere Rs20,000 only.

The president rejected the appeal submitted by the bank against a decision of the Banking Mohtasib of Pakistan (BMP) and ordered that the bank should pay the fine in addition to returning the defrauded amount to its customer as the bank adamantly filed frivolous representation wasting its resources and time as well as of the BMP and the office of the Head of the State, said a statement of the President Secretariat on Saturday.

He also upheld the order of BMP and also imposed a fine of Rs20,000 on the bank for filing an appeal in a case where a meager amount was involved and was less than even the cost of litigation and was frivolous.

According to details, UBL had filed a representation with the President against the orders of the BMP in a case where a customer had attempted to withdraw cash of Rs20,000 from UBL's ATM but the cash was not dispensed whereas the customer's account was debited.

Orders bank to pay fine, return defrauded amount

The customer had also filed a complaint and submitted the Dispute Settlement Form but his complaint was rejected summarily. Feeling aggrieved, he had raised the matter with the BMP, which passed the orders of returning the disputed amount to the...