National Bank of Pakistan and Sindh Bank urged to
comply with regulations
The Centre for Peace and Development Initiatives (CPDI) has
issued letters to Mr. Rehmat Ali Hasnie, President of the National Bank of
Pakistan (NBP), and Mr. Imran Samad, President of the Sindh Bank, expressing
concerns regarding their adherence to transparency regulations.
CPDI underscores the crucial role of financial institutions
in empowering customers, investors, and the public through the disclosure of
policies on official websites. The letters emphasize that both banks have not
fully complied with legal obligations outlined in Article 19-A of the
Constitution, Section 5 of the Right of Access to Information Act, 2017, and
Section 6 of the Sindh Transparency and Right to Information Act, 2016. These
sections, relating to proactive information disclosure, mandate public bodies
to publish various information, including policies, rules, regulations,
notifications, circulars, instructions, budget and expenditures, and other
legal documents, as well as perks and privileges of officials on their official
websites. This statutory provision is crucial for promoting openness,
accountability, and informed public participation.
Sindh
Bank's mounting losses amidst banking industry prosperity
The letters express concern that not all required
information has been disclosed on the official websites of these banks,
compromising transparency and accountability. Mr. Mukhtar Ahmad Ali, Executive
Director of CPDI, emphasizes the importance of proactive policy disclosure as a
fundamental right and a cornerstone of good governance. CPDI urges NBP and
Sindh Bank to promptly rectify this oversight by comprehensively disclosing all
policies on their official websites.
CPDI advocates for NBP and Sindh Bank to recognize proactive
policy disclosure as both a legal obligation and a matter of public
significance. The comprehensive and up-to-date disclosure of all information on
official websites is deemed crucial for promoting transparency and fostering
public trust.
Source: MM News