1.
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Assignment on
Discipline: B.S (Banking & Finance)
Semester: IV
Roll no: BSBF12-41
Submitted to: Muhammad Usman
Submitted by: M Owais Kha
Department of Management
Sciences,
Abdul Wali Khan University,
Mardan
Banking Mohtasib

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M Owais Khan Page 2
Banking Mohtasib (Ombudsman):
The investigating and, in some cases, prosecuting office of criminal justice
An ombudsman is an official, usually appointed by the government or by parliament but with a
significant degree of independence, who is charged with representing the interests of the
public by investigating and addressing complaints of maladministration or violation of rights.
Previously complaints were entertained by the State Bank of Pakistan but with the growth in
banking sector leads to increase in complaints of customers which become difficult for the State
bank to manage them, for that purpose they establish a new department for complaint’s
management known as Banking Mohtasib
Introduction:
The schemes have very positive influences on the system where banks have become increasingly
conscious of their responsibilities and to satisfy and meet customer demands professionally and
efficiently.
About 25 countries have established the institution of Banking Mohtasib (Ombudsman) or
similar schemes are in place and each one has contributed to an improved and more efficient
banking system.
Mission Statement:
As an independent statutory body established to resolve disputes between consumers and banks,
it has been our commitment to deliver free of cost, speedy solutions for all disputes referred to
us, in a manner that is impartial, fair and equitable to all parties.
Objectives:
As a part of good governance within the financial sector, the government wants to ensure that
public complaints against banks are investigated through an independent body which is impartial
and offers free and prompt service.

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Benefits of Mohtasib Scheme:
 Globally a phenomenal success.
 A cost free service.
 Cost effective for both complainants and banks.
 Accessible, friendly, informal and flexible.
 Hearings are arranged at the place nearest to the complainant’s residence.
 Complainants retain the right to take the matter to court if not satisfied.
Complaints entertained by Banking Mohtasib:
 Complaints relating to payment of utility bills.
 Delays or fraud in relation to the payment or collection of cheques, drafts or other
banking instruments or transfer of funds.
 Fraudulent or unauthorized withdrawals or debit entries in accounts.
 Complaints from exporters or importers, relating to banking services and obligations
including letters of credit.
 Complaints relating to remittances to or from abroad.
Procedure of Complaints:
 All complaints rejected by banks can be entertained by the banking Mohtasib.
 Rejected complaints may also be sent to banking Mohtasib along with all related
correspondence and the complaint form.
 The banking Mohtasib handles complaints relating to violation of banking laws and
regulations, excessive delays and inefficiency, poor services, discriminatory actions, etc.
 In case a bank is not satisfied with the Banking Mohtasib's order in the matter of a
complaint,
 It may file an appeal with the Governor, State Bank of Pakistan within thirty days.
 However, if no appeal is filed, or the State Bank of Pakistan does not uphold the appeal,
 The Banking Mohtasib's order shall become final, operative and binding upon the bank.
 The Banking Mohtasib shall also submit a report or reports to the State Bank of Pakistan
containing the results of such inquiries as he may be directed to conduct by the State
Bank from time to time.
 All reports submitted by the Banking Mohtasib shall be published and released to the
public.