MULTAN: Chief Manager of the State Bank of Pakistan (SBP) in Multan Javed Iqbal Marth on Wednesday said that the central bank has developed a software application to facilitate account holders in filing complaints against banks.
Speaking at a ceremony organized by the Multan Chamber of Commerce and Industry (MCCI), Marth highlighted that the new application aims to empower account holders to voice their concerns and initiate a resolution process for any issues they may have with their banks.
MCCI President Mian Rashid Iqbal, former President Khawaja Muhammad Hussain, Naveed Ahmad Chughtai, Saleha Hassan, and others attended the meeting, said a a release issued by MCCI.
Marth assured that due to stringent policies and monitoring by the State Bank of Pakistan, no bank has unlawfully seized account holders’ money, even in cases of default. He expressed optimism that the political developments following the February 8 general elections would further enhance the economic conditions in the country.
The SBP Multan chief mentioned that the central bank has set the auto financing ceiling at Rs 3 million, addressing concerns about the excessive presence of vehicles due to earlier liberal financing.
Highlighting the SBP’s efforts in financial inclusion, Marth mentioned the provision of small loans to ordinary people, especially women, and disabled individuals to start businesses and secure a dignified livelihood.
MCCI President Mian Rashid Iqbal requested the establishment of a help desk in Multan, similar to the one set up by the SBP, to address issues related to Letters of Credit (LCs) at the local level. He also urged the SBP Multan chief to extend the payment period for mark-up under the SBP short-term financing facility from 90 to 365 days.
Moreover, he requested the deferral of mark-up payments calculated for the current year to the next year, to be paid in four installments.
