Pakistan Banking Laws
Pakistan Banking law is primarily based on legislations and contract law. Every Banking Transaction between the Bank and the Consumer is governed through the Banking legislations and the signed contract. Banking Courts play an important role in recovery of loans and as regulator for the Financial institutions, further a Banking Mohtasib (Watch Dog) is also in place to redress the grievance against the Bank. Although Criminal law is also applicable in financial crimes. Remember, any term of contract which significantly imbalance the position of a party in an agreement is void, therefore, the court can struck it off and agreement cannot be enforceable even if it is signed.
A dispute in Banking sector cannot be handle without the supervision and advice of a lawyer. We provide expert legal opinion and court representation in area of Pakistan Banking Law.
Banking Companies Ordinance, 1962 and Banking Companies Rules, 1963
State Bank of Pakistan Act, 1956
Financial Institutions (Recovery of Finances) Ordinance, 2001
Foreign Exchange Manual, 2002
Micro-Finance Banking Ordinance, 2000
Microfinance Institutions Ordinance, 2001
AND OTHER STATUTES....
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