President Dr. Arif Alvi upheld two separate judgments of the Banking Mohtasib, ordering Al Baraka Bank Ltd (ABBL) and Habib Bank Ltd (HBL) to pay Rs 9.145 million and Rs 5 million, respectively, to complainants Zahida Naseem and Mushtaq Ahmed Bajwa, who had been duped out of their money by the banks’ management.
The President dismissed both banks’ appeals against the Banking Mohtasib’s judgments. He expressed concern that the victims of fraud, including an overseas Pakistani, had suffered greatly at the hands of bank management and had received no compensation, according to the President’s Office. He advised the people to use the Banking Mohtasib’s services to seek relief in cases of fraud and maladministration by bank staff.
Zahida Naseem (complainant) created her PKR account on 03-03-2017 and her British Pound Sterling account on 28-03-2017 with Al Baraka Bank, DHA Branch, Lahore, according to the data of both cases. After signing her cheque and TDR Application Form, she applied for a one-year term deposit in the sum of Rs 10.7 million.
