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BC-10.4.2

An Islamic bank licensee's internal complaint handling procedures must be designed to ensure that:

(a) All complaints are handled fairly, effectively and promptly;
(b) Recurring systems failures are identified, investigated and remedied;
(c) The number of unresolved complaints referred to the CBB is minimised;
(d) The employee responsible for the resolution of complaints has the necessary authority to resolve complaints or has ready access to an employee who has the necessary authority; and
(e) Relevant employees are aware of the Islamic bank licensee's internal complaint handling procedures and comply with them and receive training periodically to be kept abreast of changes in procedures.
Added: October 2011