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UBF’S INITIATIVE FOR ADDRESSING COMPLAINTS OF BANK CUSTOMERS GETS APPROVAL FROM THE CENTRAL BANK

The UAE Banks Federation (UBF) has recently made an announcement that it has obtained approval from the Central bank regarding the launch of its initiative which will see the development of a framework that will be aimed at improving the processes and procedures that are adopted by banks for addressing complaints of customers. The UBF is an organization that represents its 48 member banks that are currently operating within the UAE.

The chairman of UBF, Abdulaziz Al-Ghurair, said that the objective of the initiative and the proposed framework is to improve customer experience and also to make the process of addressing complaints of bank customers more transparent and efficient.

He further said that the approval of the Central Bank with regards to the proposed framework will make the way for implementation of this project all across the banking sector in the UAE. The framework will make sure that the rights of customers are protected and their concerns are taken care of in the most efficient and effective manner possible.

The UBF has also issued guidelines that not only provides guidance but also specifies standards that should be adopted banks when handling complaints of customers.

Al-Ghurair also said that the purpose of this project is to improve the quality of services the bank customers receive when they show concern or file a complaint against a certain policy, product or service of the bank. With the recent issue of guidelines by the UBF and standardized processes that will be implemented in the banks all across the UAE, these steps will majorly help in raising the standards of customer service in the industry as well as helping in building confidence of the customers in the banking sector/industry.

According to the UBF’s Service Promise, customers can file complaints with banks in the UAE through various mediums such as bank branches, call centers, social media and mobile banking. Customers would receive a notification from the bank that their complaint has been received and a solution to which would be provided as soon as possible (either within 6 business days or even less).

If the bank fails to provide solution to the complaint within 60 days then in that scenario the person who had filed the complaint would be provided with information regarding other options that could be exercised by the bank customer.

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