A major relief has been announced for bank customers in Pakistan who previously faced significant distress due to delays in resolving their complaints regarding banking services.
According to a report by Pakistan Observer, the time frame for addressing customer complaints lodged with banks has been reduced to 30 days to provide timely relief to customers.
Previously, under the Banking Companies Ordinance of 1962, banks were required to resolve complaints within 45 days. Now, customers can take action against banks if their complaints are not resolved within the stipulated time.
Customers may approach the Banking Ombudsman of Pakistan if their complaints are not addressed by the bank within the specified time frame. However, customers are required to fulfill certain conditions before taking action.
Before lodging a complaint with the Ombudsman, the complainant must first request the concerned bank to resolve their issue. If the bank fails to respond or provides an unsatisfactory response within the 30-day period, the complainant can file a complaint against the bank at any time within the following 30 days.
If the Banking Ombudsman is satisfied that there is a valid reason for any delay in filing the complaint, the delay may be overlooked, and the complaint will still be entertained.
