Banking & Finance

Where it is heard

Banking Courts hear recovery suits under the Financial Institutions (Recovery of Finances) Ordinance 2001. A defendant must apply for leave to defend within 30 days of service, or the suit may be decreed. Complaints against banks can also go to the Banking Mohtasib Pakistan. Banks are regulated by the State Bank of Pakistan.

Common matters

• Defending a bank’s recovery suit and the application for leave to defend
• Mortgaged property and its auction
• Complaints about unauthorised or fraudulent transactions
• Restructuring and settlement of finance facilities

Papers to gather first

1. 1Finance or facility agreement
2. 2Statement of account from the bank
3. 3Legal notices and the summons from the Banking Court
4. 4Mortgage and title documents of the property