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BC-10.2.1

Past version: Effective from 01 Oct 2011 to 31 Dec 2011
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In order to make customer complaints handling procedures as transparent and accessible as possible, all Islamic bank licensees must document their customer complaints handling procedures. These include setting out in writing:

(a) The procedures and policies for:
(i) Receiving and acknowledging complaints;
(ii) Investigating complaints;
(iii) Responding to complaints within appropriate time limits;
(iv) Recording information about complaints;
(v) Identifying reoccurring system failure issues.
(b) The types of remedies available for resolving complaints; and
(c) The organisational reporting structure for the complaint handling function.
Added: October 2011