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19-04-23

Saudi Central Bank Directs Banks to Provide Multiple Channels for Customer Complaints

(MENAFN) The Saudi Central Bank, also known as SAMA, has directed banks in the Kingdom to provide multiple channels for customer complaints. Customers should be able to register complaints through a minimum of five platforms, including toll-free phones, websites, smartphone applications, emails, and branches. The directive aims to ensure that problems are dealt with in a timely manner and promote ease of banking. SAMA has given banks until mid-July to comply with the directive.

As part of addressing the complaints, banks have been asked to document the process of receiving complaints, keep records, and follow up on them at all stages. They will have to provide their customers with a main reference number and the specified period for processing via a text message on their approved mobile phone. Additionally, SAMA has asked banks to allow their customers to register their complaints directly on the electronic system. The directive said that banks should also allow their customers to view the results of their complaints and any related developments while providing them with the necessary documents.

To help customers assess how satisfied they are with the solutions provided by the bank, the complaints should also be categorized in the electronic system based on the products and services offered by the bank. The central bank mandated that the required target for complaints handled by the bank for customers should not be less than 85 percent of the total complaints. It also added that the percentage of compliance with the service level agreement should not be less than 95 percent.

SAMA's directive aims to improve customer service and ensure that banks are more responsive to customer complaints. The central bank has emphasized the importance of addressing customer complaints in a timely and effective manner. By providing multiple channels for customer complaints, customers will have greater flexibility in how they register their complaints, making it easier for them to communicate their concerns to the bank. Banks will also be able to document the complaints and follow up on them, ensuring that they are resolved satisfactorily.

In addition to its directive on customer complaints, SAMA is also researching the economic effects, market readiness, and potentially effective and quick uses for digital currency payment solutions. The central bank is committed to exploring new avenues for financial innovation and promoting a more efficient and secure financial system.

Overall, SAMA's directive on customer complaints is a positive step towards improving customer service in the banking sector. By providing multiple channels for customer complaints and mandating that banks document and follow up on complaints, SAMA is ensuring that banks are more responsive to customer needs. This will help to build greater trust and confidence in the banking sector and promote ease of banking.
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