Regulatory Alerts2012-04-30
Establishment of the Bilateral Complaint Handling Process (BCHP)
Saudi Arabian Monetary Authority establishes the Bilateral Complaint Handling Process to enable Saudi banks to submit compensation-related complaints directly to its Banking Supervision Department. The framework mandates that SAMA communicates final outcomes to the filing institutions while safeguarding confidential information submitted by participating firms. All complaints must be directed to the department’s Director and align with the Financial Stability Board’s public reporting standards on compensation practices.
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