Central Bank Launches Sanadak Ombudsman Unit in Bid to Protect Consumer Rights

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Staff Writer, TLR

Published on March 8, 2024, 16:59:06

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Central Bank Launches Sanadak Ombudsman Unit in Bid to Protect Consumer Rights

The UAE's commitment to consumer rights takes a significant stride forward with the official launch of 'Sanadak,' a dedicated unit within the Central Bank to address issues in the financial services and insurance sectors.

Replacing the functions previously handled by the Central Bank's Consumer Protection Department and the Insurance Dispute Resolution Committee, Sanadak serves as an ombudsman unit, allowing consumers to file complaints and receive prompt resolutions from financial service providers.

By providing an alternative to local courts and judicial authorities, Sanadak aims to enhance consumer confidence, fostering collaboration with financial institutions and licensed insurance companies.

What is Sanadak?

"Sanadak is dedicated to efficiently resolving financial and insurance complaints, safeguarding consumer rights, and enhancing satisfaction," stated Fatma Al Jabri, Chairperson of Sanadak.

Consumers can submit complaints through Sanadak's website, mobile app, or via the Contact Centre, ensuring accessibility for all, including people of determination and the elderly.

As the first ombudsman unit of its kind in the UAE and the MENA region, Sanadak streamlines the process for raising complaints related to financial institutions and insurance companies, aiming to simplify procedures for consumers.

With a focus on safeguarding consumer rights and resolving disputes, Sanadak's establishment marks a significant advancement in consumer protection within the UAE.

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