Banking & finance law
بینکاری اور مالیاتی قانون
Banking law covers lending, loan recovery and the rights of banks and customers, including recovery suits in Banking Courts.
What is Banking & finance law law in Pakistan?
A bank or financial institution that wants to recover a loan files a suit in the Banking Court under the Financial Institutions (Recovery of Finances) Ordinance, 2001, which has its own fast procedure.
Which are the main laws?
- Financial Institutions (Recovery of Finances) Ordinance (2001)
Which courts hear these cases?
- Banking Courts
- Supreme Court of Pakistan
- Lahore High Court
- High Court of Sindh
- Peshawar High Court
- High Court of Balochistan
- Islamabad High Court
Which terms will I meet?
Common questions
- Which court hears a bank loan recovery case?
- The Banking Court, under the 2001 Ordinance.
- Can a borrower defend a Banking Court suit?
- Yes, but only after the court grants leave to defend.