Launch of the First Phase of the Complaint Management System

Saudi Central Bank
Number: 1185
Date: 07/01/1447
Attachments: None

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Circular

To:
Respected Institutions

Peace, mercy, and blessings of God be upon you,

Subject: Launch of the First Phase of the Complaint Management System.

Based on the authorities granted to the Saudi Central Bank under its system issued by Royal Decree No. (M/36) dated 11/4/1427 AH, and other related systems, and extending the Bank's supervisory and regulatory role in issuing instructions and procedures that protect customers of financial institutions under its supervision, and continuing its efforts to enhance confidence in the financial sector and improve the quality of services provided by financial institutions, thereby positively contributing to customer satisfaction.

We inform you that the Saudi Central Bank has developed a complaint management system for customers of financial institutions under its supervision, "the Complaint Management System," which constitutes its first phase. This system aims to enhance transparency and raise the speed and effectiveness of financial institutions' responses to customer complaints, process them efficiently, ensure that service delivery and complaint resolution do not exceed specified timeframes, and improve the customer experience according to best performance standards.

Therefore, and in pursuit of the aforementioned objectives, financial institutions must comply with the following:

First / Full complaint resolution via the Complaint Management System according to the following timeframes:

No.	Complaint Resolution Timeframe
1	Resolution of a customer complaint at (Level One) within a maximum period of (five) working days from the date of submission.
2	Resolution of a customer complaint at (Level Two) - if escalated by the customer - within a maximum period of (three) working days from the date of escalation.
3	Response to requests from the Saudi Central Bank regarding escalated complaints objected to by the financial institution's response; accurately and completely within a maximum period of (two) working days from the date of the request.

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Second / Achievement of performance indicators on a quarterly basis as follows:

Category	Indicator	Description of Indicator	Ratio
Performance Measurement Indicators for Complaint Handling	Quality of Customer Complaint Handling	Complaints resolved by the financial institution at (Level One) and directly accepted by customers, plus complaints falling under customer acceptance behaviors and closed in automatically closed complaints after excluding the escalated complaint ratio.	Not less than 75%
	Efficiency of Resolving Escalated Complaints to Level Two	Complaints resolved by the financial institution at (Level Two) and directly accepted by customers, plus complaints falling under customer acceptance behaviors and closed in automatically closed complaints after excluding the escalated complaint ratio.	Not less than 80%
	Complaints Escalated to the Saudi Central Bank	Complaints whose escalation was accepted by the Saudi Central Bank.	Not exceeding 15%
Complaint Resolution Timeframe Indicators	Compliance with Specified Timeframes for Resolving Complaints (Level One)	Complaints resolved within (5) working days at (Level One).	Not less than 95%
	Compliance with Specified Timeframes for Resolving Complaints (Level Two)	Complaints resolved within (3) working days at (Level Two).	Not less than 95%
	Compliance with Specified Timeframes for Responding to the Saudi Central Bank	Complaints responded to by the Saudi Central Bank within (two) working days.	Not less than 95%
Effectiveness Indicators for Complaint Handling	Quality of Responses	Complaints closed with a single correspondence between the Saudi Central Bank and the financial institution.	Not less than 97%
	Customer Repetition	Number of customers with more than one submitted complaint relative to the total number of customers who submitted complaints via the Complaint Management System.	Not exceeding 25%
	Use of Missing Documents	Complaints in which missing documents were requested from customers relative to the total number of complaints.	Not exceeding 15%

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Third / Providing necessary support (in terms of systems, funding, and human resources) to administrative units responsible for customer care, and granting them all necessary authorities to perform their duties professionally and with high competence; thereby contributing to the effective resolution of customer complaints in accordance with specified timeframes and controls.

Fourth / Reviewing and developing internal policies and procedures in compliance with this Circular, updating service level agreements with relevant departments accordingly, and improving the internal escalation mechanism through technological systems that ensure rapid escalation to the highest executive position; in order to achieve fast and effective handling of complaints.

For information, and for implementation as of its date, the Saudi Central Bank will monitor financial institutions' compliance with resolution timeframes and performance indicators, and take regulatory actions against non-compliant institutions starting from the Fourth Quarter of 2025. Please note that this Circular repeals any conflicting instructions previously issued by the Saudi Central Bank.

Accept my regards,

Yazeed bin Ahmed Al-Sheikh
Acting Deputy Governor for Financial Behavior

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Distribution Scope:
All financial institutions subject to the supervision and regulation of the Saudi Central Bank

P.O. Box 2992 Riyadh 11169, Kingdom of Saudi Arabia Tel: +966 11 463 3000 +971 11 873 3... Kingdom of Saudi Arabia Tel: 11169 Riyadh, P.O. Box 2992