The Securities and Exchange Commission of Pakistan (SECP) is set to establish the country’s first centralized Financial Complaints Centre, aiming to simplify the complaint resolution process for consumers dealing with financial institutions.
The upcoming platform will serve as a single point of contact for individuals seeking to report issues related to regulated financial entities, improving accessibility and transparency within Pakistan’s financial sector.
According to the SECP, the initiative is designed to strengthen consumer protection by providing an efficient mechanism for lodging and tracking complaints. Instead of approaching multiple organizations separately, consumers will be able to submit their grievances through one unified system.
The Financial Complaints Centre is expected to coordinate with banks, insurance companies, non-banking financial institutions, capital market participants, and other regulated entities to ensure complaints are addressed in a timely and transparent manner.
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Officials believe the new system will enhance public confidence in Pakistan’s financial ecosystem by promoting accountability and improving dispute resolution standards. The project also aligns with the regulator’s broader efforts to modernize financial services through digital innovation and customer-focused reforms.
The SECP stated that the centralized complaint management framework will reduce delays, improve coordination among stakeholders, and provide better oversight of recurring consumer issues. Data collected through the platform will also help identify systemic problems and support future regulatory improvements.
With the launch of the Financial Complaints Centre, Pakistan is expected to take a significant step toward strengthening financial consumer rights and creating a more transparent and responsive regulatory environment.
