RIYADH: Customers wishing to complain about their banks should be able to do so through a minimum of five platforms including toll-free phones, the Saudi Central Bank has announced.
The institution, also known as SAMA, has issued directives to ensure problems are dealt with in a timely manner as the Kingdom aims to promote ease of banking.
As well as by phone, customers should also be able to register complaints via websites, smartphone applications, e-mails, and branches, reported Al Arabiya.
SAMA has given until mid-July for banks to comply with the directive.
It also directed the banks to make provisions for customers to submit their complaints as per their preferences with ease and at appropriate times.
As part of addressing the complaints, the banks have been asked to document the process of receiving complaints, keep records, and follow up on them at all stages.
They will have to provide their customers with a main reference number and the specified period for processing via a text message on their approved mobile phone.
Additionally, SAMA has asked banks to allow their customers to register their complaints directly on the electronic system.
The directive said banks should also allow their customers to view the results of their complaints, and any related developments while providing them with the necessary documents.
The complaints should also be categorized in the electronic system based on the products and services offered by the bank. This would allow customers to assess how satisfied they are with the solutions provided by the bank, reported Saudi Arabic newspaper Okaz.
The central bank mandated that the required target for complaints handled by the bank for customers should not be less than 85 percent of the total complaints. It also added that the percentage of compliance with the service level agreement should not be less than 95 percent.
SAMA is currently researching the economic effects, market readiness, and potentially effective and quick uses for digital currency payment solutions.
