Regulatory AlertsCentral Bank of Solomon Islands Prudential Guideline No. 9 on Complaints Management
The Central Bank of Solomon Islands mandates that all licensed financial institutions establish dedicated complaints management units and implement comprehensive procedures for handling customer grievances. The guideline requires institutions to maintain detailed records, ensure staff independence and training, and resolve complaints within thirty days while providing timely acknowledgments to complainants. Non-compliance triggers enforcement actions under the Financial Institutions Act, including cease and desist orders or management replacement, with quarterly reporting to the regulator required.
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