Sanadak Reduces Financial Complaint Response Time By 50 Percent To Enhance Consumer Protection

Sanadak, the UAE's Ombudsman Unit, has significantly reduced the time it takes to address consumer complaints against licensed financial institutions. The response time has been cut from 30 days to just 15 working days. This change aligns with both local and international standards, aiming to provide faster and more efficient service to consumers.

This reduction in complaint resolution time highlights Sanadak's dedication to consumer protection within the financial sector. The initiative supports the 'We the UAE 2031' vision, which focuses on enhancing the nation's social and economic growth over the next decade. By improving service quality, Sanadak aims to meet consumer expectations more effectively.

Sanadak processes complaints following strict guidelines that ensure all parties' rights are protected. Initially, consumers must submit their grievances to the concerned licensed financial institution and wait up to 15 calendar days for a response. If unsatisfied or unresolved, they can escalate the issue to Sanadak.

Complaints must not be under court consideration or previously filed with identical details. They should pertain to financial services or products within Sanadak's jurisdiction. This ensures that only relevant and new issues are addressed by the unit, maintaining efficiency in handling cases.

Faiza Al Awadhi, CEO and Managing Director of Sanadak, stated: "The directives of our leadership to enhance government services, boost operational efficiency, and advance government services form the foundation of our ongoing efforts to strengthen the positive social and economic impact across the country."

Enhancing Public Confidence

Sanadak was created to protect consumer rights in banking and insurance sectors while boosting public trust in the financial system through an independent complaint-resolution mechanism. Its operations adhere to international best practices, showcasing UAE’s commitment to a fair and sustainable financial environment.

The principles of governance, transparency, and fairness guide Sanadak's operations. These principles protect consumer rights for individuals and small businesses, enhance confidence in the financial system, increase competitiveness in the national financial sector, and promote economic growth.

The reduction in response time is a testament to Sanadak’s ongoing efforts towards service excellence. By aligning with global standards, it aims to deliver high-quality services that benefit both consumers and financial institutions alike.

With inputs from WAM