President directs two private banks to refund
amount to bank fraud victim
President Dr Arif Alvi has directed two private banks of the
country to refund an amount of 564,469 rupees to three victims of bank fraud.
The President gave these directions while deciding on three
separate representations filed by two banks and a citizen against three
different verdicts of the Banking Mohtasib.
The President observed that in these cases, the respective banks had opened EFT Facility by default without the consent and knowledge of the customers, which was in violation of the State Bank of Pakistan’s rules.