The UAE Central Bank announces this procedure to bank customers
According to a reliable banking source, it has been established that the Central Bank does not investigate client grievances that are currently being reviewed by their respective banks or have not yet reached the 30-day mark from the submission of the complaint to the customer's bank, provided that no response or resolution has been provided thus far.
Customers have expressed dissatisfaction with the closure of their complaints submitted to the Central Bank, as they were not resolved within two or three days of submission through the Central Bank's website, despite receiving follow-up calls from the bank's employees.
The anonymous source stated that, as per the complaints resolution charter implemented by banks, customers are required to file a complaint through the customer service center and obtain a reference number to ensure the completion of necessary procedures. Subsequently, the customer will be contacted to discuss their issue. The source further mentioned that the resolution of the problem lies with the bank party until the procedures are finalized. The submission of a complaint to the Central Bank is prohibited until the client has received a response within a maximum period of 30 days.
The individual provided an explanation that the Central Bank issues a communication indicating that the complaint will be closed unless the customer agrees to first review their bank and subsequently await a response or a period of 30 days. However, certain customers hold the belief that the Central Bank has conducted an investigation into the complaint and declined to address it, which is an inaccurate perception. According to the provided source, it is affirmed that customers possess the entitlement to assess the Central Bank, under the condition that they decline the proposed resolution offered by the bank. In such instances, the Central Bank intervenes by engaging with the disputing bank and implementing customary protocols.
The individual emphasized that the primary responsibility of the Central Bank is to ensure compliance with banking sector legislation, laws, decisions, and agreements between banks and customers. Consequently, it is not imperative for customers to always be correct in their complaints. This is primarily attributed to their failure to read and comprehend the terms of contracts. The speaker underscored the significance of thoroughly reviewing and comprehending all details before signing any documents or contracts.