KARACHI - President Pervez Musharraf would soon appoint a new Banking Mohtasib as the three-year non-extendable term of Banking Mohtasib Azhar Hamid, has expired. Azhar Hamid has completed his 3-year non-extendable term. It was learnt that the Governor State Bank of Pakistan has submitted recommendations to the President in this respect. Since commencement of operations on May 2, 2005, the Banking Mohtasib has received 3,681 formal complaints of which 3,127 were disposed of; total amount granted to complainants exceeded Rs 242 million. A further 3,300 informal complaints were also received which were suitably attended without the need for detailed investigation. Complaints resolved during the period largely related to small to medium sized borrowers and depositors. During his tenure, Mr. Hamid has passed a number of landmark judgments particularly relating to bank lockers, parallel banking scams, auto loans and profit on deposits.