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STATE BANK OF PAKISTAN CONSUMER PROTECTION DEPARTMENT

Annual Business Plan FY 2014-15

(Last updated on July 15, 2014 incorporating Action Points)

Annual Business Plan for the year 2014-15

Consumer Protection Department Page | 1

Contents Vision & Mission Statement of the Department ............................................................................................................ 3

Vision Statement ............................................................................................................................................................ 3

Mission Statement .......................................................................................................................................................... 3

Departmental Details ......................................................................................................................................................... 4

Organogram .................................................................................................................................................................. 4

Introduction of the Department ................................................................................................................................... 5

Departmental Goals & Objectives ............................................................................................................................. 6

Departmental Goals ................................................................................................................................................ 6

Departmental Objectives ........................................................................................................................................ 6

Operational Activities ........................................................................................................................................................ 7

Credit Information Bureau Division ............................................................................................................................. 7

Goals of the Division ................................................................................................................................................ 7

Objectives of the Division ........................................................................................................................................ 7

Redressal Division: ......................................................................................................................................................... 8





Key Result Areas and Key Performance Indicators ............................................................................................. 10

Summary of Developmental Projects ........................................................................................................................... 11

Status of Development Projects for the Year 2013-14 ...................................................................................... 11

Summary of Development Projects for Year 2014-15 ....................................................................................... 14

Development Projects – Current Year 2014-15 ....................................................................................................... 15

Human Resource Needs .................................................................................................................................................. 19

Information Technology Needs ..................................................................................................................................... 20

Training & Development Needs .................................................................................................................................... 21

Training & Development Needs (Local/Foreign)* ................................................................................................ 21

Training & Development Needs .................................................................................................................................... 22

(Exposure visits and trainings on financial consumer protection (FCP)* ................................................................ 22

Support Services Needs ................................................................................................................................................. 23

Office Equipment Needs ........................................................................................................................................... 23

Office Space Requirements ...................................................................................................................................... 23

Event Planning ............................................................................................................................................................. 24

Summary of Consultants to be hired ....................................................................................................................... 24

Budget Summary .............................................................................................................................................................. 25

Departmental Budget ................................................................................................................................................ 25

Corporate Budget ........................................................................................................................................................... 27



Capital Budget ................................................................................................................................................................. 27

Distribution of Departmental Expenses ....................................................................................................................... 28

Distribution of Corporate Expenses ............................................................................................................................. 28



Vision & Mission Statement of the Department

Vision Statement

To be at the forefront of State Bank’s efforts in addressing concerns, grievances and protecting interest of Banks, DFIs, MFBs’ customers & other stakeholders. Mission Statement

To provide high quality, accessible and responsive services, designed to effectively redress the grievances of customers of banks/DFIs/MFBs and other stakeholders through devising proactive policies and efficient complaint resolution mechanism.



Departmental Details

Organogram



Introduction of the Department

Inception of dedicated Consumer Protection Department (CPD) is an initiative of State Bank of Pakistan (SBP) to create/promote culture of social responsibility in banks/Development Finance Institutions (DFIs)/Microfinance Banks (MFBs) for amicably resolving disputes, thereby protecting the rights of the financial consumers. CPD has been established to effectively deal with public grievances against banks/DFIs/MFBs. CPD deals with consumer complaints against banks/DFIs/MFB’s in prompt, fair and transparent manners. The department is also entrusted with the responsibility to prepare and review consumer protection policies and guidelines. The department ensures that banks are effectively managing affairs with regard to collection of utility bills and disbursement of pensions through branches. Further, the department also ensures timely surrendering of unclaimed deposits in terms of Section 31 of banking Companies Ordinance, 1962 reimbursement unclaimed deposit refund claims to account holders.

The department’s role is also very critical in assisting banks and financial institutions in the process of credit risk management through providing online access to Electronic Credit Information Bureau (eCIB) database. The online credit data collection and dissemination mechanism as well as scope of the data collected and maintained in eCIB database are meant to assess the credit worthiness of borrowers and exerting discipline on banks in prudent lending decisions. Over the years, SBP has significantly enhanced the scope of eCIB operations. eCIB is having state-of-the-art system and ability to meet the needs of banks and financial institutions in a rapidly changing business environment.



Departmental Goals & Objectives

Departmental Goals i. To promote culture of social responsibility in banks/DFIs/MFBs for amicably resolving

disputes ii. To effectively deal with public grievances against banks/ DFIs/MFBs iii. To prepare & review consumer protection policies and guidelines iv. To manage Unclaimed Deposits database v. To attend Pensions and Utility Bills collection related issues vi. To assist banks and financial institutions in credit risk management through providing online

access to eCIB database

Departmental Objectives i. To correspond with parties to the complaint within three working days ii. To ensure compliance of SBP’s directives/circulars/instructions to banks, DFIs and MFBs iii. To collect credit data from banks and financial institutions within 15 days of the close of

month or within the extended timelines iv. To validate, process and upload of credit data on eCIB servers within 5 working days of

the receipt of data v. To manage eCIB data correction related complaints within 3 days from the date of receipt

of complaints vi. To recommend policy initiatives or amendments in existing policies governing consumer

banking related issues from time to time. vii. To collect returns of unclaimed deposits (FCY/LCY), on yearly basis, from all banks/DFIs

through Data Acquisition Portal-4 from April 01-15 each year. viii. To collect and realize funds against unclaimed deposits (FCY/ LCY), within the period of

fortnight from the date of receipts of cheques/debit advices. ix. To upload unclaimed deposits data on “Unclaimed Data Management System (UDMS) and

on SBP website for public access within a month’s time from the date of receipt of data. x. To process unclaimed deposits refund claims cases within a week’s time. xi. To monitor and review collection of utility bills in line with Supreme Court’s Orders. xii. To manage all pension disbursement related issues. xiii. To recommend/initiate punitive actions on account of noncompliance with SBP circulars/

guidelines on utility bills. xiv. To create awareness among financial consumers regarding consumer protection

framework available for the protection of consumers. xv. To promote financial literacy through consumer awareness campaigns or through print

media.



Operational Activities

List of Divisions with brief overview 1. Electronic Credit Information Bureau Division 2. Redressal Division 3. Policy & Operations Division

Credit Information Bureau Division

Goals of the Division 1. To ensure timely receipt of credit data from banks and financial institutions and its timely

updation on servers. 2. To ensure eCIB system and data integrity and secrecy and smooth functioning eCIB online

System. 3. To promptly address the data reporting related complaints of borrowers’ and get these

resolved from reporting banks and financial institutions. 4. To respond online queries of borrowers’ and banks and financial institutions. 5. To effectively manage web enabled Complaint Management System and eCIB Help Desk. 6. To ensure timely issuance of letter to new corporate defaulters.

Objectives of the Division

i. Collection of credit data from banks, financial institutions within 15 days of the close of month or within the extended time

ii. Validation, processing and uploading of credit data on eCIB Servers within 5 days of the receipt of data

iii. Ensuring issuance of letters to corporate borrowers intimating them about their default within 5 working days from the date of updation of data

iv. Ensuring imposition of penalties on banks and financial institutions for non/late/wrong submission of CIB data within 5 working days of receipt of complete particulars from concerned unit.

v. Take up data correction related complaints within three working days from the date of receipt of complaint



Redressal Division:

Goals of the Division 1. To attend complaints of general public against banks/MFIs received directly or through

other sources (Ministries, PM Secretariat) 2. To decide writ petitions relating to banking disputes forwarded by various courts 3. Use the information received through consumer complaints and take measures to curb

malpractices in delivery of products and services by the banks 4. Ensure that the banks adopt and adhere to the notion of “treating customers fairly” 5. Ensure compliance of our Orders passed in complaints and the references sent by the

courts 6. Maintain complaint data that renders useful consumer insights for relevant stakeholders 7. Liaison with Law Division to provide comments and relevant information in the cases where

our Orders have been assailed before the court of law


i. Examine/analyze complaints and to take up the issue with concerned banks/DFIs/MFBs within 7 working days

ii. Hold meetings with complainants and representatives of the banks/DFIs/MFBs to firm up opinion for resolution of the issue and provide an opportunity of hearing to the parties as and when required

iii. Convey decisions to all stakeholders in the complaints within 3 working days after receipt of all relevant reply

iv. Conduct hearing to the parties of dispute at the nearest located SBPBSC Offices from the residence of complainant

v. Examine and decide writ petition referred by the apex courts within the timelines prescribed for the purpose

Policy & Operations Division:

Goals of the Division 1. To review and assess consumer protection related policies/ circulars/guidelines 2. To monitor surrendering of Unclaimed Deposits in terms of provision of Section 31 of

Banking Companies Ordinance, 1962 3. To review process of collection of utility bills by banks in line with Supreme Court’s Orders 4. To deal with pension disbursement related issues with banks 5. To disseminate consumer protection and awareness messages through print media 6. To arrange consumer awareness and engagements programs 7. To oversee Business Planning, Budgeting, Internal Audit & control of the Department




i. To review and assess consumer protection related policies/circulars/guidelines and recommend changes in existing instructions/circulars/guidelines from time to time

ii. To upload unclaimed deposits data on “Unclaimed Data Management System (UDMS)) and on SBP Website for public access within a month’s time from the date of receipt of data

iii. To process unclaimed deposits refund claims cases within a week’s time iv. To monitor and review collection of utility bills by banks in line with Supreme Court’s

Orders v. To correspond pension disbursement related issues with banks and deals with all

complaints vi. To disseminate of consumer protection related instructions/guidelines through media on

periodic basis



Key Result Areas and Key Performance Indicators Sr. No.

Key Result Areas Scope Key Performance Indicators

1

Credit Information Bureau (CIB) Division

Collecting and dissemination of credit

data from and to banks, and financial institutions.

Online access to eCIB database is meant to provide a tool for credit risk management and making prudent lending decisions.

Adherence to prescribed timeline. Stakeholders’ satisfaction

2 Redressal Division

Redressal of grievances of consumers/borrowers of banks/DFIs/MFBs

Attending the writ petitions relating to banking disputes forwarded by various courts.

Adherence to prescribed timeline. Stakeholders’ satisfaction

3 Policy & Operation Division

Suggest new policy initiatives and recommend amendments in existing policies in line with changing business environment.

Unclaimed Deposits Data Management Collection of utility bills and pension

related issues. Initiating consumer awareness and

engagements programs and dissemination of important consumer protection related instructions through print media.

Timeline & Quality Stakeholders’ satisfaction



Summary of Developmental Projects

Status of Development Projects for the Year 2013-14

Project ID Nature: Start Date: End Date:

% Completed

Approx. Completion

Date

Status as of June 30, 2014

CPD-01/20/14 New Jul 2013 June 2014

70%

December 31, 2014

Contents of the webpage have since been finalized. ISTD has been requested for construction of the proposed webpage.

Project Title: Consumer Awareness Webpage Development. Project Description: Development of consumer awareness webpage will add to the consumer protection initiatives of SBP. The webpage will contain information relating to functions and operation of Electronic Credit Information Bureau, information relating to types of account, handling and safe keeping of ATM/Debit/Credit Cards, Glossary of banking terminologies and Identity theft and tips to avoid internet frauds and electronic scams. Project ID:

Nature Start Date: End Date:

70% December 31, 2014

The proposed Code of Banking Practice has since been completed. We are in process of sending the documents to Pakistan Banks Association. The document will be sent to PBA for comments.

CPD-02/021/14 New Jul 2013 Jun 2014

Project Title: Developing Code of Conduct for banks. Project Description: The Code of Banking Practice will sets out the minimum standards for service and conduct the consumers can expect from bank with regard to the services and products the banks offers. The code will be implemented through Pakistan Banks Association (PBA). PBA will be taken on board for circulation of Code among banks for publicizing and disseminating among general public. Project ID: Nature

: Start Date: End

Date: 100% June 30,

2014 The proposed workshop was scheduled to be held on April 28, 2014 with the collaboration of World Bank, Islamabad in Hotel Marriot, Islamabad. The same was cancelled due pre occupation of higher authorities. However, the objectives of the workshop achieved through participation in World Bank arranged Conference in Serena Islamabad on April 29, 2014

CPD-03/022/14 New Jul 2013 Jun 2014

Project Title: Capacity Building Work Shop for Stake Holders for effective implementation of Financial Consumer Protection. Project Description: Building and maintaining consumer confidence and trust in financial markets promotes efficiency and stability and helps to create positive outcomes for both financial institutions and their customers. One of the most vivid lacunas in implementation of financial consumer protection in our industry is lack of integration amongst the relevant stakeholders of this very domain. This project will aim at bringing



the stakeholders on one desk, creating awareness amongst them to understand the need for adequately perform their specific roles in an integrated way. This will serve as promoting advocacy for the implementation of financial consumer protection in a more impactful way. Project ID: Nature Start

Date End Date: 50% December

31, 2014

Preliminary study of complaints relating to SOC has been made and related points/areas to be addressed have been compiled. SOC of all banks have been analyzed. World practices are being assessed. Outline/preliminary draft is under preparation. Since this is a major project, the same will take more time and will be spilled over.

CPD-04/023/14 New Jul, 2013 Jun, 2014 Project Title: Issuance of general guidelines for Schedule of Charges (SOC). Project Description: The freedom and lack of regulatory supervision on imposition of services charges has enabled the banks charge exorbitant and illogical rates from the customers. Realizing the fact that SBP does not believe in micro management of banking sector, it is the call of the hour to issue regulatory general guidelines governing the imposition of services charges by the banks. The guidelines will aim at providing logically based floors and ceilings for most exploitative service areas. It will also include a rationale to levy late payment charges on the services. Project ID: Nature: Start

Date: End Date:

90% December 31, 2014

Draft note duly approved by ED (BSG) has been sent to PBA for comments, if any. The draft will be submitted to governor once the comments are received.

CPD-05/024/14 New Jul 2013

Jun 2014

Project Title: Issuance of market conduct framework tailoring financial consumer protection requirements for the industry. Project Description: This framework will elaborate on the traits that banks need to adopt in order to contribute towards strengthening of CP regime across the industry. The framework will include factors based on global good practices to ensure responsible finance by molding banks conduct. It will also entail vigilance tools/mechanism that will be used by consumer protection department to monitor market conduct. Project ID: Nature: Start

Date End Date: 90% December

31, 2014

Circular on cheque security has been issued. Issues pertaining to Tax certificates have been taken up with FBR. PBA comments on unsolicited debit cards and misuse of return memo have been received. The draft

CPD-06/025/14 New Jul 2013

Jun, 2014

Project Title: Conducting review of consumer protection mal practices in the products and services offered by the banks /DFIs. Project Description: To conduct in depth analysis of recurring consumer



related issues collected through complaints and appeals, followed by policy issuance recommendations.

circulars will be put up for approval before issuance.

Project ID: Nature:

Start Date: End Date:

20% December 31, 2014

First draft of functional specifications is completed which will be sent to ISTD after approval. Due to complexities involved, the project will be spilled over.

CPD-07/026/14 New Jul 2013 June 2014

Project Title: Complaint Management IT System. Project Description: To develop IT System, capable of managing complaints from initiation to disposal. Keep track records of complaints and generate MIS reports for internal and external stakeholders at every stage. Further system will be capable of integration the data supplied from SBP (BSC) and Banking industry. Project ID: Nature

: Start Date:

End Date: 55% December 31, 2014

Questionnaire duly approved from ED (BSG) has been sent to banks with July 15, 2014 deadline. The findings will be drafted soon once the data is received.

CPD-08/027/14 New Jul 2013 Jun 2014 Project Title: Diagnostic review of Financial Consumer Protection in Banking. Project Description: Banks operating in Pakistan generally conceive Financial Consumer Protection as efficient dispute resolution and there are few institutions that comprehend its true meaning. The objective of study is to assess the existing level of financial consumer protection provided by the banks and identify areas that need supervisory guidance. The project will include devising assessment criteria either internally or with the collaboration of an external research firm. The criteria will include parameters such as Culture, Disclosure and sales practices, service quality, Dispute resolution mechanism, Privacy and data protection and Consumer empowerment. Project ID: Natur

e: Start Date:

End Date: 100% June 30, 2014

After incorporating the suggestions of PBA, the new version of eCIB has been approved by the Governor, which has been sent to the ISTD for further action at their end.

CPD-09/028/14 New Jul 2013

Jun 2014

Project Title: To prepare requirement document for advanced version of e-CIB. Project Description: CIB Division will coordinate with concerned departments of SBP and also with selected member banks to assess their requirements and will complete paper work to assess the possibility of new advanced version of e-CIB.



Summary of Development Projects for Year 2014-15

Sr. No.

Project ID

Project Title Nature of the Project

Start Date End Date

1 Social Media Consumer Engagement Program

New 01-07-2014 30-06-2015

2 Financial Literacy Panel Discussions New 01-07-2014 30-06-2015

3 Assessment criteria for Financial Consumer Protection in banks

New 01-07-2014 30-06-2015

4 Conference on Financial Consumer Protection – a banking perspective.

New 01-07-2014 30-06-2015

5 Diagnostic review of Financial Consumer Protection in Banks.

On going

6 Complaint Management IT System Spilled Over

31-12-2013 31-12-2014

7 Conducting review of consumer protection mal practices in the products and services offered by the banks /DFIs

Spilled Over

31-12-2013 31-12-2014

8 Issuance of market conduct framework tailoring financial consumer protection requirements for the industry.

Spilled Over

31-12-2013 31-12-2014

9 Issuance of general guidelines for Schedule of Charges (SOC).

Spilled Over

31-12-2013 31-12-2014

10 Consumer Awareness Webpage Development.

Spilled Over

31-12-2013 31-12-2014

11 Developing Code of Conduct for banks.

Spilled Over

31-12-2013 31-12-2014



Development Projects – Current Year 2014-15 Development Projects (with details) Sr. Caption Description

1. Serial No. of Project 1

2. Title of the Project Social Media Consumer Engagement Program

3. Brief Description With more than 30 million internet users and more than 10 million active social media users, Pakistan is one of the leading countries in internet and the social media usage yet lags behind in engaging consumers through internet. The Social Media Consumer Engagement Program aims to target social media users and engage them in such a way that results in maximum financial literacy and consumer awareness.

4. Steps/Stages involved in the Project

Research and analysis of worldwide best practices of central banks and regulators responsible for consumer protection

Understanding the local financial and media dynamics Social Media pages development.

5. Project Deliverables Effective consumer protection and financial literacy through increased consumer engagement.

6. Project Manager Mr. Syed Imran Ali (Senior Joint Director)

7. Team Member Mr. Muhammad Sameer Mirjat (Assistant Director)

8. Division Responsible Policy & Operations Division

9. Start Date July 1, 2014

10. End Date June 30, 2015

11. Nature of the Project New

12. HR Needs Nil

13. IT Needs Access to Social Media, more PC RAM and installation of Adobe Photoshop.

14. Training & Development Needs

Search Engine Optimization, Google Analytics and Adobe Photoshop

15. Consultancy Needs Advertising Agencies

16. Linkage with Strategic Goal/Sub Goal

3.4: Strengthening Framework for Consumer Protection for banks, DFIs and MFBs 5: Address development needs of the financial system, including broadening access to financial services.

17. Budgeted Expenses Training Expense: 30,000 Advertising Expense: 100,000



Development Projects (with details) Sr. Caption Description

1. Serial No. of Project 2 2. Title of the Project Financial Literacy Panel Discussions 3. Brief Description Being the central banker, it’s SBP’s responsibility to ensure

financial awareness through effective consumer engagement programs. Understanding the fact that 110 million Pakistanis are under the age of 30, and also their active roles in our society, CPD along with other commercial bankers, aims to hold panel discussions in various educational institutes across Pakistan in order to understand their problems regarding the Pakistani banking environment.


Understanding the local financial dynamics Coordinate with Executive Development Centers at educational institutions to hold the panel discussions Collect information from the discussions Devise action plans to address the issues discussed

5. Project Deliverables First hand information on issues of public regarding the local banking and their recommendations

6. Project Manager Mr. Syed Imran Ali (Senior Joint Director)

7. Team Member Mr. Muhammad Sameer Mirjat (Assistant Director) 8. Division Responsible Policy & Operations Division 9. Start Date July 1, 2014 10. End Date June 30, 2015 11. Nature of the Project New 12. HR Needs Nil 13. IT Needs Nil 14. Training & Development

Needs Nil

15. Consultancy Needs Nil 16. Linkage with Strategic

Goal/Sub Goal 3.4: Strengthening Framework for Consumer Protection for banks, DFIs and MFBs 3.5: Enhance efficiency of financial intermediation along with improved market structure

17. Budgeted Expenses Shields procurement: Rs. 5000 Certificates printing: Rs. 1000 Total: Rs. 6000




1. Serial No. of Project 3 2. Title of the Project Assessment criteria for Financial Consumer Protection in

banks. 3. Brief Description To develop a uniform criteria gauging the state of

execution of financial consumer protection of a bank. The rating system will be derived from the internationally accredited essential deliverables of financial consumer protection.


Study of the internationally recognized principles or essentials of financial consumer protection.

Devising the applicable parameters for our industry.

Designing assessment tools for gauging the given parameters.

Drafting the criteria. Consultations with stakeholders. Approval and dissemination.

5. Project Deliverables The system will render quantified state of adherence of banks to the financial consumer protection.

6. Project Manager Mr. Zaki Awan 7. Team Members Ms. Sundus Saleem 8. Division Responsible Redressal 9. Start Date July 1, 2014 10. End Date June 30, 2015 11. Nature of the Project New 12. HR Needs Nil 13. IT Needs Nil 14. Training & Development

Needs Nil


Goal/Sub Goal 3.4: Strengthening Framework for Consumer Protection for banks, DFIs and MFBs

17. Budgeted Expenses




1. Serial No. of Project 4 2. Title of the Project Conference on Financial Consumer Protection – a

banking perspective. 3. Brief Description To arrange an enlightening knowledge sharing conference

on financial consumer protection in banks preferably through SAARC forum. This will open gate way of learnings and adoptions for State Bank in the subject under consideration.


Drafting of proposal and forwarding to research department.

Announcement of Governor in the upcoming SAARC event.

Arrangements in coordination with research department.

Hosting of event.

Undertaking of Post event tasks. 5. Project Deliverables The event will render a rich learning experience

complementing the objective of marketing of SBP’s initiatives on promotion of financial consumer protection within the banking industry.

6. Project Manager Mr. Zaki Awan, Senior Joint Director Syed Imran Ali, Senior Joint Director

7. Team Members Ms. Sundus Saleem Mr. Muhammad Habib Ms. Asma Qaiser Ms. Zehra Rizvi Ms. Zubeda Narejo Mr. Sameer Mirjat

8. Division Responsible Redressal/ Policy & Operations Division 9. Start Date July 1, 2014 10. End Date June 30, 2015 11. Nature of the Project New 12. HR Needs Nil 13. IT Needs Nil 14. Training & Development

Needs Nil


Goal/Sub Goal Strengthening Framework for Consumer Protection for banks, DFIs and MFBs

17. Budgeted Expenses The event is initially proposed to be financed through SAARC fund. Changes, if any, will be incorporated in the budget in case the source of fund changes.



Human Resource Needs:

S. No. Grade Current Required Vacancies Reason

1 OG-7 1 1 0

2 OG-6 0 2 2 A post of OG-6 is vacant due to promotion of Mr. Mohsin Rasheed as Director. A division is proposed to be established which will be headed by OG-6 for regulation and licensing of private sector credit bureaus.

3 OG-5 3 2 (1) An OG-5 position is for supervision of eCIB database and other allied functions. A post will be retrenched upon internal job postings against vacant OG-6 position.

4 OG-4 3 7 4 A post has since been advertised for internal job posting against approved Manpower Plan for the year 2013-14. Three OG-4 positions will be required for licensing, regulation and supervision of newly created assignments besides up gradation of OG-3 positions for effective succession planning.

5 OG-3 10

13 3 A post has since been advertised for internal job postings while two are vacant due to transfers of Syed Shakil Akhtar and Mr. Abdul Khalique Khan. These positions are required to be filled in against postings of five unmanned units.

6 OG-2 5 7 2 Position vacant due to transfer of Mr. Arshad Hussain. An OG-2, preferably with IT background is required for eCIB Front Office (Inquiry).

TOTAL 22 32 10 Four new positions are required for additional assignments/succession planning while six positions are vacant against approved Manpower Plan to fill in five unmanned units. One OG-2 has since been surrendered to HRD owing to proceeding on long leave.

Approved working Strength of CPD (2013-14) 28 Gap in existing approved Working Strength 06 Additional Human resource Requirement (2014-15) 04



Information Technology Needs

New Hardware Requirements

Sr. No. Description Required Justification / Remarks 1 PCs 10 6 PCs needed for replacement and newly entrants

4 laptops need replacements, one for Additional Director

One standalone printer need replacement while one standalone printer is required for Senior Joint Director

For eCIB and other data transfers usages Fax Machines require to be replaced Scanner required for complaints sending through emails

2 Laptops 4 3 Printers 2 4 CD Drives - 5 USB Drives 10 6 Accessories - 7 Fax machine 2 8 Scanner 1 9 RAM 1 2GB RAM required for Developmental Project

Existing Hardware Details

Sr. No. Description Available Justification / Remarks 1 PCs 28 26 for OG 1-7, 1 for Director’s PA & 1 for NADRA

2 Laptops 4 3 Printers 5 4 CD Drives 0 6 Miscellaneous -

New Software Requirements

Sr. No. Description Required Justification / Remarks 1 Adobe

Photoshop 1 For undertaking development project

2 - - - Current Departmental Strength (OG-1 to OG-7)

25

Additional Resource Expected 10 Total 35

Current working Strength OG-2-7 (2013-14) 22 Current Working Strength of OG-1 03 Total Working Strength 25 Gap in existing approved Working Strength 06 Additional Human resource Requirement (2014-15) 04 Additional Resource Required 10



Training & Development Needs

Training & Development Needs (Local/Foreign)*

Brief Description No. of Participants

Duration (days)

Training Institute /

Consultant

Timelines (When Required)

Financial markets and new financial instruments

1 12 Singapore Training Institute

(STI)

November 2014

Cyber security summit 3 2 SEACEN August 2014

Financial consumer protection and market conduct and supervision

4 6 SEACEN October 2014

30th Annual Consumer Compliance Seminar

3 3 Florida Bankers Association

April 2015

Adobe Photoshop CC 1 2 Freelance Trainer (Local)

August 2014

Social Media activation & SEO

1 3 Freelance Trainer (Local)

August 2014

Financial stability, systemic risk and macroprudential policy

1 5 Deutsche Bundesbank

January 2015

Combating Money Laundering

5 5 Deutsche Bundesbank

August, 2014

Branch banking, ATM operations and dispute resolution

8 5 NIBAF/PIM/IBP During any month of the fiscal year 2014-15

Islamic banking 2 22 NIBAF February 2015 Frauds and mitigation & AML and KYC


BCO, Negotiable Instrument Act, Contract Act etc




Training & Development Needs

(Exposure visits and trainings on financial consumer protection (FCP)*

Sr. No.

Name of the Institute / Central

Bank

Areas of Training /

Attachment

Duration (days)

No. of

Participants

Timelines (When Required)

Remarks

1 FCP initiatives in USA, UK etc

FCP 10 5 During the fiscal year 2014-15

Subject to approval

2 SAARC FCP exposure

FCP 10 5 During the fiscal year 2014-15

Subject to approval

3 Regulation of Private Sector Credit Bureau – Attachments/ Study visit

Study visit/ attachments to

oversee enabling

requirement for regulation and supervision of private sector credit bureaus.

15 4 During the fiscal year 2014-15

Subject to approval

4. Consumers Protection- Attachments/ Study visit

Study visit/ attachments to

oversee enabling

requirement for regulation and supervision of private sector credit bureaus.

15 3 During the fiscal year 2014-15

Subject to approval

*Subject to approval



Support Services Needs

Office Equipment Needs

Description Available Required Gap Justification

Telephone Sets 27 35 (8) Eight telephone sets require replacement

Telephone Lines (direct)

9 9 0 -

Fans 28 32 (4) 4 fans need replacement

Chairs 30 35 (5) 5 new chairs required and 5 chairs need replacement

Wooden Cupboard 08 12 (04) New Cupboard required for Unclaimed Deposits, Pension & Utility Bills related record keeping

Wooden Rack 0 1 (1) For Director’s Chamber

Iron Safe 0 1 (1) For Director use

Carpet and Curtains for Director’s chamber

Carpets and Curtains of the Director’s chamber need replacement

Office Space Requirements

Sr. No.

Office Space Available Required Gap When Required

Justification

1 Cubicle 31 35 4 -

Include 28 cubicles for Officer OG-2 and above and 3 for Officer Grade 1

2 Director’s Chamber

1

1

0

-

3 S JDs/ Additional Chamber

3

4

1

-



Event Planning

Summary of Consultants to be hired

Sr. No.

Event* No. of participants

Start Date / End Date

Remarks

1 Capacity Building Workshop for Stakeholders for effective implementation of Financial Consumer Protection.

150 FY 2014-15

Workshop will be held during the FY 2014-15 as per schedule of guest

speakers. - - -

Description (Firm / Individual / Local / Foreign)

Duration required

Estimated Cost

When required

Remarks

- - - -

- - - -

- - - -



Budget Summary

Total Number of Employees: 28 Departmental Budget

S. No.

Head of Account

App Budget

(2013-14) A

Actual Expenses (2013-14)

B

Approved Budget

(2014-15) C*

A vs B C vs B Justification

1. Honorarium 84,000 77,729 84,000 6,271 6,271 The HOD was on R&R due to which the staff attached with the HOD could not claim Honorarium. Hence the positive variance is mainly due to non availing of budgeted amount.

2. Staff Overtime Allowance

6,000 19,648 43,200 (13,648) 23,552 Initially the budget for the year 2013-14 was projected on lower side based on actual utilization of previous year budget. During the year due to exigency of work, the staff attached to HOD was required to sit late for which the budget has been over utilized.

3. Legal & Professional Charges

- - - - - N/A

4. Stationery & Publication Expenses

119,000 117,662 130,000 1,338 12,338 The nominal increase is expected due to inflation

5. Travelling 600,000 596,304 670,610 3,696 74,306 The department used to schedule outstation hearings combining various petitions/complaints in order to minimize the outstation visits. Further, no awareness programs had been scheduled in last quarter of 2013. The positive variance is mainly due to less outstation visits.The amount is also increased to incorporate travelling to be done with regards to the development projects

6. Daily Allowance

469,600 468,720 485,395 880 16,675 Same as above

7. Conveyance & Fuel charges

24,000 48,157 186,040 (24,157) 137,883 The HOD had attended meeting in Finance Division,



Government of Pakistan, Islamabad for which private car was acquired and accordingly expenses were charged to "Conveyance Charges Account". The overutilization is mainly due to unexpected meeting with the Ministry of Finance Officials.

8. Communication 192,000 99,117 120,000 92,883 20,883 CPD is emphasizing more on communicating with banks and complainants through emails.

9. Computer Running Expenses

76,000 27,924 75,000 48,076 47,076 CPD is emphasizing more on communicating with banks and complainants through emails.

10. Repair & Maint. to Bank Property

44,000 24,304 24,000 19,696 (304) These expenses are proportionately charged to CPD budget and hence not in control of the Department.

11. Official Lunch/Dinner & Conferences, Seminar

106,000 74,230 700,000 31,770 625,770 These funds are projected for arranging Awareness Sessions with the collaboration of SBPBSC Field Offices. As these sessions have not Awareness programs are scheduled in the first quarter of 2014, therefore the expenses will be incurred in the next quarter. Also, in order to achieve a development goal, an additional amount is included in this head.

12. Miscellaneous Expenditure

134,000 120,773 166,000 13,627 45,227 Addition of winter uniforms expense increases the cost.

Total Departmental Expenses

1,855,000 1,674,568 2,684,245 180,432 1,009,677

Note: The Consumer Protection Department budget for the year 2014-15 has been approved vide Finance Department IOM No. FD(BDGT)/001-2014-12/31 dated June 25, 2014.



Corporate Budget

S.N. Head of

Account App Budget (Current Year) A

Actual Expenses (Current Year) B

Proposed Budget (Next Year) C

A vs B

C vs B

Justification

Total Corporate Expenses

Capital Budget

S.No Description Proposed Current Year Remarks

Budget Budget Actual Expenses

Commit- ments

Utilization %age

1 Furniture & Fixtures-Office

2 Motor Vehicles

3 Office Equipment

4 ISTD Dev Projects

5 Civil, Elec & Mech Works

6 Others

Total



Distribution of Departmental Expenses

Amount Percentage

Total Approved Budget 2,684,245 100%

Operational Activities 2,684,245 100%

Development Projects - -

Distribution of Corporate Expenses

Amount Percentage

Total Proposed Budget

Operational Activities

Development Projects

*App Budget: Approved Budget of Current Year

documentbp

Documents

departmental goals objectives

redressal division

departmental objectives

vision statement

departmental details

operational activities