Regulatory Alerts2023-03-21
Circular Re. The Regulations for Establishing Customer Care Departments in Banks
The Saudi Central Bank issued regulations requiring all licensed banks in the Kingdom to establish a dedicated Customer Care Department with direct reporting to senior executive leadership. The directive mandates the creation of three specific units—Complaints Processing, Quality and Performance Analysis, and Financial Awareness and Education—each with defined operational procedures, staffing qualifications, and performance metrics. These regulations replace previous guidelines and become effective on July 15, 2023, setting minimum standards for customer protection and complaint resolution.
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