Regulatory Alerts2022-04-05
Methodological Guideline on Handling of Consumer Appeals in Financial Institutions
The Central Bank of the Republic of Azerbaijan issued this guideline to standardize how banks, insurers, and investment companies receive, investigate, and resolve consumer complaints. It mandates dedicated complaint units or coordinators to maintain publicly accessible contact channels, standardized registration tracking, and strict response deadlines aligned with national appeal laws. The framework requires quarterly reporting to supervisory boards, transparent compensation procedures, and clearly defined escalation pathways through the Central Bank hotline, Banking Ombudsman, mediation, or courts.
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