HYDERABAD, Feb 01: In response to persistent advocacy by the Hyderabad Chamber of Small Traders & Small Industry, concerns over the undue and indefinite freezing of business funds have been raised.
Chamber Vice President Shan Sehgal engaged with Adil Zahoor, Assistant Manager at the State Bank in Hyderabad, to highlight the difficulties traders and industrialists are experiencing.
During the meeting, Vice President Sehgal stressed that unjustified retention of business funds, without written justification or a clear timeline, disrupts business operations, causes financial strains, and undermines business trust.
Adil Zahoor assured the Chamber that these issues would be addressed with utmost seriousness, and that any responsible commercial banks could face strict penalties. He also informed that the State Bank of Pakistan has already instructed all commercial banks to conduct special awareness sessions at the Chamber’s Secretariat. These sessions will cover Islamic banking, AML/CTF regulations, and other essential banking practices to help traders better understand banking regulations.
Shan Sehgal called for swift resolutions to these transactional problems and protection of rightful business funds. Calling the Bank’s response encouraging, he affirmed that the Chamber will continue to advocate for its members’ rights. He expressed hope that the State Bank’s commitments will quickly resolve traders’ issues, bolster business confidence, and drive economic reforms.
