Business

SBP forms special unit to deal with discriminatory practices at banks

KARACHI: The State Bank of Pakistan, in response to complaints from various quarters regarding discrimination by banks on the basis of high-risk category of customers including their status as Politically Exposed Persons (PEPs), has formed a special unit for addressing such issues, a press statement read.

SBP’s instructions already prohibit discrimination on the basis of specific occupation, trade, region, gender and other factors while providing financial services in normal course of business.

The central bank has therefore, reiterated that banks/DFIs should not discriminate any customer merely on the ground that he/she belongs to a particular category of customers.

In this respect, State Bank has also advised all banks/DFIs to put in place an internal mechanism for speedy handling of such complaints and nominate senior officers with the responsibility of dealing with complaints and issues related to PEPs and for coordination with the State Bank in the matter.

Further, a special unit in Consumer Protection Department (CPD) of SBP has been created for handling grievances against such discriminatory practices.

This unit will monitor and handle the complaints which remain unresolved by banks’ internal procedure, read the statement.

Comments

comments

Copyright © 2016 ARYNEWS.tv

To Top