Regulatory Alerts2019-01-14
Added · Updated
Instructions of the Internal Procedures for Handling Consumers’ Complaints of Financial and Banking Services Providers
The Central Bank of Jordan (CBJ) issued these Instructions to mandate that all regulated banking and financial services providers establish internal policies and dedicated units for handling consumer complaints. Providers must implement specific procedures, including establishing a complaints handling unit subordinate to compliance or general management, maintaining an electronic registration system, and providing multiple channels for complaint submission. The document sets strict deadlines, requiring an initial response within 10 working days, with a maximum total handling period of 30 working days. Additionally, providers are required to conduct periodic analysis of complaints, submit quarterly statistical reports to management and the CBJ, and include complaint evaluation results in their annual reports.