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What Nobody Is Telling You
Pakistan’s fintech sector has spent years selling the image of frictionless banking. But moments like this expose the operational reality:
Digital-first banking is only superior when everything works.
The second something goes wrong—account suspension, KYC freeze, compliance hold, refund dispute—the absence of physical infrastructure becomes a liability.
Consumers do not care how sleek the UI is when their money is inaccessible.
Why State Bank and Regulators Must Step In
If this refund exercise was driven by supervisory intervention—as many users and observers allege—then the regulator’s responsibility does not end at ordering refunds.
It must ensure:
- Uniform treatment of all eligible customers, including blocked users
- Published refund SOPs for suspended/closed wallets
- Mandatory disclosure timelines for unresolved funds
- Escalation routes via Banking Mohtasib / SBP complaint channels
A refund is not complete simply because the easiest users got paid.
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