Banking law is a special area of law and only selected legal practitioners have expertise in Banking law. Following laws are important in the banking sector for instance: (a) Governing Banking Practice and Procedure Financial Institutions (Recovery of Finances) Ordinance, 2001; (b) Bankers Book of Evidence Act, 1891; (c) Contract Act, 1872; (d) Offences in respect of banks Ordinance, 1984; (e) State Bank of Pakistan Prudential Regulations; (f) Punjab Consumer Protection Act, 2005; Banks are usually have a practice of assigning or selling their portfolio of defaulting customers, to agencies who then hound and harass customers for recovery. Such actions are per se illegal and result in a lot of bank litigation. Furthermore, many practices involve hidden charges late, late payment charges, and compounding of interest, which all are challengeable in courts of law. It is always advisable to engage with a team of expert banking lawyers to discuss personal financial issues so that a well-thought-out legal strategy can be formulated. Most offenses under banking and finance are administered under Financial Recovery Ordinance, 2001 in special courts acting as banking courts in Pakistan. Offenses may also be tried under civil courts and through other courts if circumstances permit. Every Banking Transaction between the Bank and the Consumer is governed through the Banking legislation and the signed contract. Banking Courts play an important role in the recovery of loans and as regulators for the financial institutions, further, a Banking Mohtasib is also in place to redress the grievance against the Bank. Criminal law is also applicable in financial crimes.