Consumer Protection

JS Bank Management is committed towards creating a culture of fairness in customer dealing and has therefore developed a Consumer Protection Framework that clearly states the management views and the protocols that needs to be followed to ensure Fair Treatment of Customers (FTC).

Consumer Protection framework is a basic model, which identifies the factors that can contribute to achieving adequate levels of satisfaction and protection that characterizes the relationship between consumer and financial entity.

An effective Financial Consumer Protection Framework is necessary for creating a fair market infrastructure where:

• Consumers make informed financial decisions
• Have confidence in the banking industry
• Understand and exercise their rights and
• Have effective recourse for their grievances

Our FTC Vision
“To provide our customer quality and innovative range of banking products without discrimination, maintaining fairness in charges, clarity in communication, developing service culture and designing effective grievance handing mechanism through highly motivated and trained team of professionals”

Consumer Protection Objectives

1. Protect the interests of our customers at each stage of the Product life cycle.
2. To ensure that promotional material is clear, simple and appropriately designed for the intended consumer group.
3. To ensure that sales staff has thorough training on all products they advise on or sell, understanding the customer needs.
4. To keep detailed and secured records of customer information and instructions.
5. To ensure that customer complaints are assessed fairly, promptly and impartially, and in line with SBP guideline.
6. To ensure that FTC (Fair Treatment of Customers) values are understood and practiced by all staff across the bank.

Financial Consumer Protection is to be an organizational effort with well-defined roles and responsibilities The JS bank will monitor the fair treatment of customers at all stages of the relationship.

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