FSA Board of Directors holds 2nd meeting of the year

Service Level Agreement (SLA) between the Financial Services Authority and Beneficiaries

1. Introduction
   This document aims to clarify the Service Level Agreement (SLA) between the Financial Services Authority (FSA) and service beneficiaries. The agreement aims to provide high-quality services and specific performance standards to ensure transparency, improve user experience, and increase customer satisfaction.

2. Purpose and Scope
   This Service Level Agreement (SLA) defines the expected service levels and responsibilities of the Financial Services Authority (FSA) and its service beneficiaries. The purpose of this agreement is to achieve excellence in providing digital financial services and to ensure accountability and transparency.

3. Services Covered
   This agreement covers the services provided by the Financial Services Authority and listed in the Services Directory at the following link: https://om.gov

4. Performance Standards
   The Financial Services Authority commits to providing the mentioned services according to the following standards:

• Service Availability: Services must be available during official working hours from 07:30 AM to 14:00 PM, Sunday to Thursday.
• Critical Services: Some critical services, such as financial reconciliation automation for insurance intermediaries, are available 24/7 to ensure business continuity.

5. Service Availability

• Official Working Hours: Services are available during official working days, excluding official holidays.
• Critical Services: Some services are available around the clock to ensure operational continuity.

6. Key Performance Indicators (KPIs)
   Performance will be measured based on the following KPIs:

• Response Time to Requests: Initial response to requests within 24 working hours.
• Request Completion: Requests are processed within the timeframe specified and approved in the Unified Government Services Portal: https://om.gov
• Accuracy: Achieving an accuracy rate of 99% in issued reports and licenses.
• Customer Satisfaction: Maintaining a satisfaction rate of no less than 90%.

7. Roles and Responsibilities

• Financial Services Authority (FSA): Responsible for providing services in accordance with the agreement, ensuring performance monitoring, and publishing periodic reports.
• Service Beneficiaries: Must provide accurate data and update it regularly, and comply with required guidelines.

8. Reports and Transparency

• Monthly Reports: The Financial Services Authority will publish monthly reports detailing performance according to key performance indicators.
• Annual Review: The Service Level Agreement will be reviewed annually to ensure required performance is achieved and to make any necessary updates.

9. Continuous Improvement

• Feedback Mechanism: The Financial Services Authority encourages beneficiaries to provide feedback on service quality to stimulate continuous improvement.
• Periodic Review: The agreement will be reviewed and updated every six months to ensure it meets customer needs and the Authority's objectives.

10. Violations and Escalation

• Violations: In case of failure to meet performance indicators, an internal investigation will be conducted to determine the causes of the problem and take necessary corrective actions.
• Escalation Procedures: Issues that cannot be resolved will be escalated to senior management within 48 hours.

11. Stakeholder Engagement

• Stakeholder Engagement: All stakeholders were engaged during the drafting of this agreement to ensure alignment with their requirements.
• Training: Employees will be trained periodically to ensure compliance with Service Level Agreement standards.

12. Appendix: Compliance with Indicator Requirements

• Indicator Name: Quality and efficiency of operations and the provision, use, and utilization of services.
• Perspective Name: Digital Services Maturity Perspective.
• Axis Name: Operational Efficiency.
  Compliance with Indicator Requirements:
• Commitment by the Authority to provide digital services with high quality.
• Providing a mechanism to monitor performance and ensure achievement of required levels.
• Periodic review and continuous improvement to ensure service alignment with beneficiary expectations.

Head of Digital Transformation Team