DUBAI: The UAE Banks Federation (UBF) will develop an integrated framework to improve the efficiency and transparency of its members in handling customer complaints.
Central bank authorities have approved the initiative, the UBF said in its statement. The group represents 48 lenders operating in the Emirates.
“The proposed framework was developed as part of the UBF’s continued efforts to enhance customer experience, as well as bring higher levels of transparency and efficiency in addressing the concerns of the bank customers in the UAE,” Abdulaziz Al-Ghurair, the chairman of UBF, said in a statement.
“The Central Bank’s blessing for the framework paves the way for the country-wide implementation of this landmark initiative, which is in line with global best practices. It will ensure that customers’ concerns, rights and interests are taken care of and protected.”
The group likewise unveiled a set of guidelines that specify standards for good banking practices for is member banks when dealing with complaints from customers.
“The purpose of the Service Promise is to upgrade the quality of service that bank customers across the UAE will receive when they file a complaint about a product or service. By providing a set of guidelines and adequate quality assurance to customers, the Service Promise will raise the industry standards and ensure standardized processes and experiences across banks, as well as help encourage consumer confidence in the banking industry,” Al-Ghurair said.
Under UBF’s Service Promise, customers can lodge complaints through a variety of channels, including bank call centers, branches, via Internet or mobile banking and the social media.
Customers would then get an acknowledgement from their bank that their complaints have been received, and a resolution would be provided within six business days or less.
If the bank is unable to solve the complaint within 60 days, the complainant will be provided with information about their options for external escalation, the UBF said.
UAE banks launch initiative to handle customer complaints
UAE banks launch initiative to handle customer complaints
India seals $3bn LNG agreement with UAE
- Leaders hold talks to strengthen trade, defense ties
NEW DELHI, DUBAI: India signed a $3 billion deal on Monday to buy liquefied natural gas from the UAE, making it the Gulf country’s top customer, as the leaders of both countries held talks to strengthen trade and defense ties.
The agreement was signed during a very brief two-hour visit to India by UAE President Sheikh Mohammed bin Zayed Al-Nahyan for talks with Indian Prime Minister Narendra Modi.
They pledged to double bilateral trade to $200 billion in six years and form a strategic defense partnership.
Abu Dhabi state firm ADNOC Gas will supply 0.5 million tonnes of LNG a year to India’s Hindustan Petroleum Corp. for 10 years, the companies said.
ADNOC Gas said the agreement brings the total value of its contracts with India to over $20 billion.
“India is now the UAE’s largest customer and a very important part of ADNOC Gas’ LNG strategy,” the company said.
The UAE is India’s third largest trading partner and Sheikh Mohammed was accompanied by a government delegation that included his defense and foreign ministers. The two sides signed a letter of intent to work toward forming a strategic defense partnership, India’s Foreign Secretary Vikram Misri told reporters.
Misri, however, said that the signing of the letter of intent with the UAE does not mean that India will get involved in regional conflicts.
“Our involvement on the defense and security front with a country from the region does not necessarily lead to the conclusion that we will get involved in particular ways in the conflicts of the region,” he said.
