Islamabad, Dec 30: President Asif Ali Zardari has directed six banks to provide financial compensation totaling Rs. 24.136 million to 31 victims of bank fraud. This action came after reviewing 31 representations filed against decisions made by the Banking Mohtasib. The President upheld the Mohtasib’s rulings in favor of the victims, offering justice for those defrauded by criminals posing as bank representatives.
The details of the compensation include:
- United Bank Ltd (UBL) was instructed to compensate Rs. 11,570,191 to 12 victims.
- Muslim Commercial Bank (MCB) was directed to refund Rs. 5,291,500 in ten cases.
- Allied Bank Ltd (ABL) was ordered to return Rs. 4,049,742 in five cases.
- Bank of Punjab (BOP) was mandated to pay Rs. 2,315,000 in three cases.
- Askari Bank Ltd was directed to refund Rs. 490,000 in one case.
- Habib Bank Ltd (HBL) was instructed to pay Rs. 420,000 to a customer in another case.
The victims were defrauded by criminals who obtained sensitive banking details through deceptive phone calls, resulting in unauthorized transactions. After being denied relief by the banks, the victims approached the Banking Mohtasib, which ruled in their favor. The banks filed separate representations challenging these decisions, which were ultimately dismissed by the President.
The President emphasized the importance of the Banking Mohtasib in protecting citizens from banking fraud and maladministration, urging the public to utilize its services for swift resolution of disputes. This decision highlights the President’s commitment to ensuring timely justice and financial relief for defrauded individuals.
