(Owais Kayani) 31 victims of bank fraud will get 24.136 million rupees back.
President Asif Ali Zardari directed six banks to return 24.136 million rupees to 31 victims of bank fraud. Upheld the decisions of the Banking Ombudsman in favour.
The decisions reflect the determination of the President to provide justice and immediate relief to the people. The President rejected 12 petitions of United Bank Limited.
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12 customers of United Bank Limited have been instructed by the President to return Rs. Five petitions filed by Bank Limited were also dismissed.
Allied Bank Limited has been ordered to refund more than 40 lakhs to the affected customers, three applications filed by Bank of Punjab have also been dismissed. Askari Bank Limited has been directed to return Rs 490,000 in one case.
In the case of Habib Bank Limited, a customer was directed to pay Rs 420,000. Obtained details, After obtaining personal banking details from customers, funds were withdrawn from customers’ accounts.
Consumers approached the banks to get back the money stolen from the fraud but no relief was given, the affected parties approached the Banking Ombudsman for relief, the banks filed separate petitions to the President challenging the decisions of the Ombudsman. After hearing and reviewing the relevant records, the final judgments were pronounced.
The President emphasized the role of the Banking Ombudsman in protecting citizens from mismanagement of commercial banks and financial fraud. Provides timely justice to the victims without the burden of public availing banking ombudsman services to deal with banking disputes, fraud.