Regulatory Alerts2022-06-27
Added
DFIM Circular Letter No. 12: Regarding Implementation of the Guidelines For Customer Services and Complaint Management
The Department of Financial Institutions and Markets (DFIM) of Bangladesh Bank directs all financial institutions to establish complaint cells at headquarters, regional offices, and branches under the direct supervision of the Chief Executive Officer. Institutions must acknowledge all complaints from depositors and borrowers, resolve them within the timelines specified in DFIM Circular Letter No. 13/2011 and FICSD Circular No. 01/2014, and keep complainants informed of progress if delays occur. Additionally, financial institutions are required to publicly display the names of responsible officers for customer service and complaint management, and submit monthly or quarterly reports on measures taken to the Bangladesh Bank website. These instructions are issued under Section 18(c) of the Financial Institutions Act, 1993, and take immediate effect.