KARACHI: The Banking Ombudsman of Pakistan has revised regulations to require banks to respond to customer complaints within 30 days, down from the previous 45-day window.
The change comes as part of wider reforms to improve customer service and accountability in the financial sector.
For years, consumers had been facing delays in responses to their complaints, which often left them feeling unheard. The new regulation is aimed at speeding up the resolution process, ensuring that consumers get timely feedback and better service.
However, banks are now mandated to respond to complaints of complainants within 30 days instead of 45 days.
If the complainants are not satisfied with the response of the concerned bank, they can approach Banking Ombudsman Pakistan for redressal of their grievances within 30 days.
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As amended by the Banking Companies Ordinance, 1962, sub-section (2) of section 82D has been substituted as follows: “(2) Before making a complaint, the complainant shall request the banking company concerned that the complaint redresses the grievances of the complainant and if the banking company either fails to respond or gives satisfactory reply to the complainant within 30 days.
The complainant may at any time thereafter within a further period of thirty days enter: Provided that the Banking Ombudsman, if satisfied that there is any reason for the delay in complaining, may condone the delay and consider the complaint.
The amendment to Section 82D of the Banking Companies Ordinance 1962 has been published in the Gazette of Pakistan Extraordinary.
