Dear Sir, I am sorry to be here after so many days I was just searching something and found this thread. Let me introduce you my self, I am a lawyer and working on these issues since last more then 12 years, you should clear your mind regarding the legal remedy available to them as well as you. It is to inform you that this is an illegal act no matter Mashriq bank or any UAE bank has any branch here or not or whether it is registered with the SBP or not, the point is the act they have taken against you is illegal, as per the rules and policies of State Bank of Pakistan, the recovery department of any bank cannot adopt this type of procedure and it is also restricted by the High Court of Sindh (reference is made through publication in daily Jung dated 11th May 2011) , when a few bankers did the same thing with some other parson and those bankers as well as their bosses were called in High Court and this matter was also reported in news papers there are thousand of cases where we have taken the action against the collection and recovery department of about every bank registered in Pakistan and at the end the loan was settled with waiver of markup as well as discount in original amount because bank only need its money back, which was already recovered through insurance being an skip account but the recovery agencies are taking as much as money as they can from the client just being additional amount as well as to show to the insurance companies and agencies like FIA that these banks have done their best to get the client back to pay back the amount, to cut the story short, I second the opinions given by other friends , you should approach any lawyer first and move a complaint to your area police station, whenever they visit again, make them sit in your drawing room in the mean time call 15, it is the best lesson you can give to them. Do not hesitate in contacting in case of any further query.
You can also complaint the Consumer Protection Department of State Bank Of Pakistan, infact its not their jurisdiction as the bank was not working in Pakistan, but they can take action against the agency who is showing itself the representative of the bank.
Sir, could you please refer any lawyer in this regard cause I am also facing the same siyuation...??
