Regulatory Alerts2024-03-26
Added · Updated
Complaints Against Debt Collection Agents Employed by Authorized Institutions
The Circular issued by the regulator on 26 March 2024 establishes guidelines for Authorized Institutions regarding complaints against debt collection agents they employ. It addresses consumer protection standards within the banking sector by defining the responsibilities of institutions to manage and resolve disputes involving their outsourced debt collection personnel. The document serves as a regulatory framework to ensure fair treatment of consumers and maintain conduct standards in debt recovery operations.
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