Regulatory Alerts2023-03-21
Rules for Establishing a Customer Care Department in Banks
The Saudi Central Bank issued these rules to establish a minimum standard for banks operating in the Kingdom to create a dedicated Customer Care Department that ensures due care for customers and efficient complaint resolution. The directive mandates that banks establish three core units—Complaints Processing, Quality and Performance Analysis, and Awareness and Financial Literacy—each with specific operational mandates, reporting lines to the highest executive level, and strict performance targets. Compliance requires annual internal audits, ISO 10002 and ISO 10004 certifications, and adherence to defined service level agreements and escalation mechanisms effective from July 15, 2023.
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