JS Bank denounces defamatory remarks

KARACHI: JS Bank on Thursday said that a talk show program “Khara Sach” with Mubashir Luqman aired on a private TV channel on 20 January 2014 targeted JS Bank Limited with defamatory remarks.

In a statement, the JS Bank said the anchorperson showed a deposit report of the bank and made false, incorrect, misleading and defamatory remarks about the Bank and its customers.

It said: “The anchorperson misstated that one of the customers was receiving below market rate on a Pak rupee deposits. However, as a matter of fact, the term deposits referred by anchorperson are placed with the bank in US Dollars and not in Pak Rupees. The deposit rate being received by the customer is in line with market rates for institutional customers on US Dollar deposits.”

It said that JS Bank is one of the fastest growing banks in Pakistan and operates through a network of more than 200 branches in 112 cities of Pakistan. “JS Bank is rated A+ long term and A 1 short term by PACRA.”

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