Regulatory Alerts2015-08-24
Regulation (NAP) - Procedure for Customer Complaints and Reports of Financial Institutions
The Central Bank of São Tomé and Príncipe establishes binding rules for financial institutions to register, process, and respond to customer complaints and reports within seven business days. The regulation mandates clear submission channels—including complaint books, letters, or online forms—and requires institutions to maintain designated contacts, retain records for five years, and apply specific sanctioning regimes for non-compliance. It further outlines procedural timelines for information requests, decision requirements, and a ten-day appeal window to the Consumer Support Office.
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