The Central Bank of UAE announced the issuance of the ‘Consumer Protection Regulation’ (Circular No. 8/2020) which is the foundation of its new Financial Consumer Protection Regulatory Framework. The Regulation sets forth a number of high-level objectives intended to ensure protection of consumers’ interests in their use of financial products and/or services and in their relationship with Licensed Financial Institutions.
As a Financial institution licensed by the Central Bank of UAE we aim to comply with the requisites of the regulation thus ensuring that you as our valuable customer will have:-
- General Principles for Consumer Protection
- Security Tips
The Right to be Treated Fairly: You are entitled to be treated with courtesy, fairly and equally.
The Right to Know: You have the right to know the correct information about products and services which you are seeking. ABK has made every effort to ensure that you understand our products and services, and we are providing Key Facts Statements, which you have the right to read and review, allowing you to make an informed decision. ABK Customer Service Representative, will assist you with any queries you may have.
The Right to Choose: You have the right to choose products and services that most suit your needs, from the available market and competitive options.
Right to Privacy: ABK collects, holds, discloses and/or otherwise several types of data of customers and ABK has internal controls to ensure Customer Confidentiality.
Right to be Heard: You have a right to contact ABK, and raise an official complaint, if you believe that the bank has made and error, and not corrected/resolved in a satisfactory manner.
Key Fact Statement
- Key Facts Statements - Current and Saving Account
- Key Facts Statements - Fixed Deposit
- Key Facts Statements - Safe Deposit Locker
- Key Facts Statements - Mortgage Loans
- Key Facts Statements - ATM / Debit Card Services
- Key Facts Statements - Cheque Book Services
- Key Facts Statements - Remittances
- Key Facts Statements - Account Services
- Acknowledgement of Cooling Off Period / Waiver of Cooling Off Period.