Property

SBP launches complaint resolution portal for housing customers

SBP housing complaint

The State Bank of Pakistan (SBP) has introduced a portal for complaint resolution to promote affordable housing in the country.

The launching of a portal for complaint resolution would help the potential customers and also promote the low-cost housing scheme initiated by Prime Minister Imran Khan.

With the launch of the portal, customers can now register their concerns by simply putting minimum details on the online service desk portal which can be accessed from here.

On Thursday, SBP took this initiative of complaint resolution mechanism and afterward the Prime Minister of Pakistan chaired a meeting of the National Coordination Committee on Housing, Construction and Development (NCCHCD) in Islamabad.

He appreciated the development of a user-friendly and comprehensive complaint resolution mechanism to assist people, who would like to borrow under this scheme.

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The State Bank of Pakistan’s (SBP) launched online complaint resolution mechanism’s key features were presented by the Governor State Bank, Dr. Reza Baqir.

The complaint resolution mechanism comprises an IT-based portal supported by a comprehensive network of State Bank and commercial bank staff to take care of problems faced by applicants of low cost and affordable housing finance.

This major initiative would help financially excluded low and middle-income segments, who often find it difficult to access the formal financial sector. Complaints would be resolved within a predefined timeline with a proper escalation mechanism.

Moreover, the move is intended at improving effectiveness and transparency in the complaint redressal process.

The SBP issued the government’s mark-up subsidy for housing finance on October 12, 2020, in order to facilitate the provision of subsidized finance to low and middle-income individuals.

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