Updating Financial Institution KPIs

Saudi Central Bank

Circular

Number: 42027544
Date: 1442/04/28 AH
Attachments: 2 pages

To: Respected Institutions,
Peace, mercy and blessings of God be upon you,

Subject: Updating Financial Institution KPIs.

In continuation of the Saudi Central Bank (SAMA) instructions communicated via Circular No. 391000028201 dated 1439/03/10 AH regarding the obligation of financial institutions to adopt KPIs for complaint resolution quality via the "SAMA Cares" system (SAMACares), please be informed of the following decisions:

1. The title of the second KPI in the aforementioned instructions is amended to (Financial Institutions' Response Quality Ratio to SAMA).
2. The title of the fourth KPI in the aforementioned instructions is amended to (Ratio of Complaints Processed and Closed for Customer Benefit After Escalation).
3. Compliance with the performance KPIs below, effective as of Q1 2021:

KPI Name	Customer Satisfaction Ratio with Complaint Resolution	Financial Institutions' Response Quality Ratio to SAMA	Service Level Agreement (SLA) Compliance Ratio	Ratio of Pre-Escalation Complaints Processed and Closed for Customer Benefit
Target	Not less than 70%	Not less than 97%	Not less than 95%	Not exceeding 10%

For your information and action, please note that SAMA will monitor the performance of financial institutions according to the aforementioned KPIs on a quarterly basis, and regulatory actions will be taken against non-compliant institutions.

Yours sincerely,

Fahd bin Ibrahim Al-Shathri
Deputy Governor for Supervision

Distribution Scope:

• Banks operating in the Kingdom.
• Financing companies operating in the Kingdom.
• Insurance companies operating in the Kingdom.
• Payment companies operating in the Kingdom.

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