In compliance with the Basic Circular number 134 of the Central Bank, Saradar Bank SAL is pleased to inform you of the rights and duties of its customers as per the following:
First: Customer’s Rights
- To take cognizance of the terms, conditions and details of the product or service, and to request ample explanations to be sure that he/she has understood them and can abide by them.
- To obtain from the concerned employee a clear, ample and simplified explanation about the financial services and products with different risk levels.
- To obtain from the concerned employee a professional and clear answer to any question concerning an ambiguous clause or condition.
- To request the use of Arabic in any document, correspondence or transaction with the bank or financial institution.
- To request to read and obtain in advance a copy of each document and text referred to any contract to be signed with the bank or financial institution.
- To obtain and retain a copy of the contracts and documents signed by the customer, without bearing any additional cost.
- To request the bank or financial institution to determine the actual cost of the product or service, including the actual insurance cost and the computational method of the lending or deposit interest rate.
- To choose freely an insurance company among, at least, five companies that are accepted by the bank or financial institution and mentioned in a written list, in case obtaining the product or service is contingent upon the submission of an insurance policy to the bank or financial institution.
- To obtain any product or service, provided it is suitable with the customer’s request, profile and perception of the likely financial risks associated to the product or service.
- To obtain, for each product or service, a periodic detailed statement of account.
- Refuse to sign a blank or incomplete Form and make sure all the required fields and figures in the Form to be signed by the customer are correct and complete.
- To submit a claim about any service or product, and request from the bank or financial institution an explanation on the claim submission procedure, the time limit needed to be notified of the claim outcome, and the mechanism applied to submit the claim to other authorities whenever the customer is not convinced of the claim outcome.