Fight against Chain dispute FTDH

Subject: Urgent Proposal for Escrow-Based FTDH Dispute Resolution System

To
State Bank of Pakistan

Subject: Urgent Proposal for Escrow-Based FTDH Dispute Resolution System

Dear Sir/Madam,

It is extremely concerning that, despite repeated complaints, neither commercial banks, nor the State Bank, nor the Banking Mohtasib are effectively addressing issues arising from the FTDH chain block system. Currently, thousands of accounts and public funds worth millions are illegally frozen due to chain blocking, even where account holders have no direct dispute or wrongdoing.

When affected citizens approach courts for relief, they face excessively high legal costs, often exceeding the value of the disputed funds, leaving ordinary people helpless, financially distressed, and without any practical remedy.

The FTDH system was originally designed to prevent fraudulent activities. Unfortunately, this system is now being misused, with false claims being filed maliciously, causing innocent accounts to be frozen. Such deliberate misuse constitutes a criminal offense, and the responsible parties must be held accountable and subjected to strict legal penalties.

To resolve these systemic issues, I respectfully propose the introduction of a dedicated FTDH Dispute Handling Procedure within the Sunwai Portal, operating on an escrow-based model, similar to international platforms like Binance escrow.

Under this proposed system:

The Sunwai Portal should independently collect verified details from both the sender and the receiver.

Funds under dispute should be placed in a controlled escrow rather than being chain-frozen across multiple unrelated accounts.

Disputes should be assessed strictly on merit, based on transaction records and verified information from both parties.

A clear, time-bound resolution mechanism must be enforced, ensuring that disputes are resolved within 48 hours.

Only the specific disputed funds should remain restricted, while the rest of the account remains fully operational.

Currently, the lack of such a structured mechanism is causing undue financial, mental, and social hardship to innocent families and businesses. Implementing an escrow-based FTDH dispute resolution system within the Sunwai Portal will ensure transparency, accountability, speedy justice, and public confidence in the banking system, while preventing misuse of the existing chain block framework.

I sincerely urge the State Bank of Pakistan to take immediate action to protect citizens and restore trust in the banking system.

Yours sincerely,
Sikandar Ali

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