Islamabad: President Asif Ali Zardari has directed six banks to provide financial relief totaling Rs 24.136 million to 31 victims of bank fraud. He made this decision while considering representations against the rulings of the Banking Mohtasib, upholding the decisions in favor of the victims and ensuring justice for the defrauded customers.

According to Press Information Department, United Bank Ltd (UBL) has been ordered to compensate victims with Rs 11,570,191 after rejecting twelve of its representations. Similarly, Muslim Commercial Bank (MCB) is instructed to refund Rs 5,291,500 in ten cases. Allied Bank Ltd (ABL) must return Rs 4,049,742 following the dismissal of five representations. Three representations by Bank of Punjab (BOP) have been dismissed, requiring a refund of Rs 2,315,000. Askari Bank Ltd is directed to refund Rs 490,000 in one instance, while Habib Bank Ltd (HBL) is to compensate a customer with Rs 420,000.

The victims were defrauded by individuals posing as bank representatives who extracted sensitive banking details through deceptive phone calls, leading to unauthorized fund withdrawals. Initially denied relief by their banks, the affected customers sought recourse through the Banking Mohtasib, who ruled in their favor. The banks subsequently challenged these decisions before the President. After hearings at Aiwan-e-Sadr involving petitioners and respondents, final decisions were rendered.

The President’s actions emphasize the importance of the Banking Mohtasib in protecting citizens from bank maladministration and fraud. He encouraged the public to utilize the Mohtasib’s services for resolving banking disputes efficiently, without enduring lengthy legal processes.