Banking Ombudsman

Banking Ombudsman

An institution that receives and deals with disputes related to banking and financial services. Examples of complaints an ombudsman might handle include non-payment of a check and refusal to honor a duly issued letter of credit. Banking ombudsman services exist in countries like the United Kingdom and India, though other nations have similar organizations.
References in periodicals archive ?
three working days of receiving communication from the bank regarding the transaction Further, under RBIs Banking Ombudsman Scheme, customers can lodge a complaint with the Banking Ombudsman against banks, for non-adherence to RBIs instructions regarding mobile/electronic banking services.
The previous year was not an exception, since the Institute of Banking Ombudsman, the Financial Literacy Council, as well as Azerbaijan Credit Bureau were established in the country.
Mumbai: The RBI released the Annual Report of the Banking Ombudsman Scheme for the year 2016-2017.
Global Banking News-September 21, 2017--More banks sign deal with Azerbaijan's banking ombudsman
Under the Banking Ombudsman Scheme, if a customer does not receive any reply within a period of one month after representation of the receipt by the bank, or is not satisfied with the reply given, he can file a complaint before the Ombudsman.
And, cardinally, especially in loosely regulated markets, the creation of a robust banking ombudsman.
MULTAN -- Banking Ombudsman Pakistan Anis Ul Husnain said Tuesday that his office was actively engaged in resolving complaints in shortest possible time without any cost and relief worth Rs 176 million was provided to complainants last year.
Federal Tax Ombudsman Abdul Rauf Chaudhry, Federal Ombudswoman for Protection Against Harassment of Women at Workplace, Justice (Retd) Yasmin Abbasey, Banking Ombudsman Anis-ul-Hasnain, Federal Insurance Ombudsman, Raeesuddin Paracha, Provincial Ombudsman Balochistan Wassay Tareen, Sindh Ombudsman for Protection Against Harassment of Women at Workplace Syed Pir Ali Shah also accompanied the Federal Ombudsman.
The number of complaints against banks, which are not accurately reporting their consumers' credit history to Credit Information Bureau (India) Limited or CIBIL, is on rise in both the Telugu speaking states, said Andhra Pradesh and Telangana banking ombudsman last week.
Tom Nevin reviews the latest report released by the country's banking Ombudsman.
MANAMA: A Bahraini businessman has called for the introduction of banking ombudsman services and an investor protection board as a precursor to making Bahrain a GCC investment hub.
To this end, he said a bill was before Parliament to appoint a banking ombudsman with clear terms of reference to ensure an equitable restructuring of loans.