Banks discriminating: SBP says complaints being received
A special unit in CPD of the SBP has been created for handling grievances against such discriminatory practices
KARACHI:
The State Bank of Pakistan (SBP) said on Thursday it had been receiving complaints about discrimination by banks on the basis of high-risk category of customers, including their status as Politically Exposed Persons (PEPs). The 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. In the statement, the SBP reiterated that banks should not discriminate against any customer merely on the ground that he belongs to a particular category of customers. SBP has also advised all banks to put in place an internal mechanism for speedy handling of such complaints and nominate senior officers for coordination with the SBP in the matter. Further, a special unit in consumer protection department (CPD) of the SBP has been created for handling grievances against such discriminatory practices.
Published in The Express Tribune, September 4th, 2015.
The State Bank of Pakistan (SBP) said on Thursday it had been receiving complaints about discrimination by banks on the basis of high-risk category of customers, including their status as Politically Exposed Persons (PEPs). The 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. In the statement, the SBP reiterated that banks should not discriminate against any customer merely on the ground that he belongs to a particular category of customers. SBP has also advised all banks to put in place an internal mechanism for speedy handling of such complaints and nominate senior officers for coordination with the SBP in the matter. Further, a special unit in consumer protection department (CPD) of the SBP has been created for handling grievances against such discriminatory practices.
Published in The Express Tribune, September 4th, 2015.