In the year 2023, the Central Bank of the UAE introduced an exemplary development. They have introduced ‘Sanadak, the Ombudsman Unit’. This move was initiated through Decision Number 1659/2023.

What is SANADAK

It is the first-ever financial and insurance ombudsman. It is introduced in the MENA region of the UAE. The main motive behind this breakthrough is to resolve a high influx of consumer complaints. With this, the banking sector will be able to efficiently and effectively deal with the complaints. Rather, it also makes the process fairer and transparent. The main goal is to construct the level of trust of people in the UAE’s financial sector. Lawyers in Dubai have a good understanding of UAE’s financial sector.

Ombudsman Unit

Sanadak is known to be an independent and neutral body. It plays a crucial role in mediating between the banks and customers. The unit helps in resolving disputes over banking transactions or services. Moreover, it offers a better alternative to court litigation. It is rather a quicker and cost-effective solution. Litigation tends to be more formal and costly whereas this process is inexpensive and fewer formalities are involved. For legal help you can contact some Lawyer in Dubai.

Who Can Use the Ombudsman Unit

The Ombudsman Unit is available to all banking customers within the UAE. Additionally, small and medium enterprises (SMEs) registered in the UAE can benefit from the facility. The Ombudsman Unit addresses various complaints. It may include the following. It handles all the complaints related to account charges. All the disputes over fees charged by banks are dealt with.

Furthermore, the complaints regarding the unfair credit terms and conditions are addressed here. Any complaints about unfair loan or credit card terms are accounted for efficiently. Any person facing problems concerning account closure issues is addressed here. The concerns regarding the closing accounts or restrictions on accounts are effectively dealt with here.

Any sort of delayed transactions are provided with the best solution. The complaints about delays, postponements, halts, or cancelations in processing transactions are a few of them. Besides, it also deals with online banking or Mobile banking problems. All the complaints related to the dissatisfaction of customers are carefully handled. They also look into how a bank handled a previous complaint.

The Procedure

The process commences by filing a complaint with the Ombudsman Unit. The procedure is quite straightforward. Some of the critical steps to follow are stated below:

• It begins by gathering the necessary documents. All the relevant records and papers are collected. It may include the details regarding the account data and transaction information.
• Following this, the complaint is submitted. For the submission, you can file a complaint in various ways. It can be done either through the Central Bank of the UAE’s website or via Fax.
• Nonetheless, it can also be done by visiting a Central Bank branch. The Central Bank branches are located in Dubai, Sharjah, Al Ain, Ras Al Khaimah, and Fujairah.
• Hereafter, the complaint is reviewed. The Ombudsman Unit is responsible for reviewing your complaint. They may request if any crucial document is missing. The Unit allows you a timeframe of 10 days to submit them.
• The investigation is undertaken by the bank. Moreover, the complaint is referred to the concerned bank and must be resolved within a timeframe. The valid complaints must be addressed within 30 days. For further understanding you can contact a good legal firm in Dubai. There are few Law Firms there, having expertise in such topics.

The Essential Role of the Ombudsman:

• The Ombudsman Unit serves some of the key functions that may include the following. The unit will address all the complaints coming from the bank customers. This will ensure the work is done fairly and effectively.
• Besides, they will ensure consumer protection. The rights of consumers are safeguarded and also ensure that the bank operates with utmost integrity and transparency.
• Maintaining accountability is also a key function of the Unit. They hold the bank accountable for their actions. Besides they also promote a higher level of service standards and greater customer satisfaction.

Ombudsman Complaints:

In case you are facing any problems or issues with any bank in the United Arab Emirates, it can be reported to the Ombudsman Unit. However, legal expertise in the case will be integral. Attorneys, lawyers, and legal consultants can fully guide you through the Ombudsman Unit procedure. The lawyers adequately understand the complexities of the financial sector of the UAE. Nevertheless, they can help with different complaints about unfair charges, poor loans, credit card terms, account issues, transaction delays, or online banking problems.