Customers Rights & Duties
In compliance with the Basic Circular number 134 of the Central Bank of Lebanon, 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 banking 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 banking product or
service is contingent
upon the submission of an insurance policy to the bank or financial institution.
To obtain any banking 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.
Second: Customer’s Duties
Provide true, complete and accurate information when filling out any Form
provided by the bank or financial institution,
and refrain from providing any false information.
Disclose all financial obligations when applying for a product or service,
without prejudice to the rights conferred to customers
by the Banking Secrecy Law.
Update the personal information submitted to the bank or financial institution,
on a continuous basis and whenever required
to do so.
Comply with the terms and conditions governing the chosen service or product.
Promptly notify the bank or financial institution of any unknown operation on
his/her account.
Provide the bank or financial institution with his/her home address, work
address, email, ordinary mail, and telephone number,
and report any change in this information to enable the bank or financial
institution
to contact the concerned customer personally and thus guarantee the privacy of
information.
Third: Instructions to the Customer
Do not provide any other party, under any circumstances, with any details about
your bank account or any other banking or
critical information.
Whenever facing financial difficulties preventing you from meeting your
obligations or paying your installments in due time,
refer to the bank or financial institution in order to find out the best
options, including
the rescheduling of obligations.
Be careful when granting a proxy to a third party to complete your banking and
financial transactions, by clearly determining
the powers delegated under this proxy.
Complaint Form
Complaint Procedure
Dear Customer & Walk-in Client,
In our aim to provide you with the best quality of service, and as per BDL Circular 134
dated 12/2/2015, we, at Saradar Bank,
welcome any comment from your side. In this respect, we have put at your disposal a
simple and
straight-forward complaint handling process, summarized as follows:
Submit your complaint by:
Filling the complaint form and depositing it in the Complaint Box available in
all Saradar Bank branches, or
Filling the electronic complaint form on our website: www.saradarbank.com, or
Calling our Call Center on +9611214666, or
Sending your complaint via mail, to the Head Office, attention:
Customer Protection Unit
Saradar Bldg., Charles Malek Avenue, Ashrafieh, P.O.Box: 16-5766, Beirut, Lebanon
Customer Protection Unit
Saradar Bldg., Charles Malek Avenue, Ashrafieh, P.O.Box: 16-5766, Beirut, Lebanon
The Customer Protection Unit, located in the Head
Office, receives the complaints:
From branches sending all complaints without opening the envelopes.
Directly from the system, for complaints submitted online.
From the Call Center where calls are recorded and forwarded.
Upon receiving your complaint, the Customer Protection
Unit contacts you to collect any further
information needed to resolve the issue.
Please note that the Customer Protection Unit will get back to you within a maximum of
15 days with the result of the complaint.
Additional supporting documents may be requested from you, which might lead to an
extension of
another 15 days to solve the issue.
Your approval on the closure of the complaint will be
documented by the Bank; accordingly, should
you not take the initiative to receive our formal response, the Bank will send its
response
through regular mail in compliance with the Law.
Common Reporting Standards
The Common Reporting Standard (CRS), developed by the Organization for Economic
Co-operation and Development (OECD) and approved
by the G20 in February 2014, is a global reporting standard for automatic exchange
of financial information (AEOI) to combat tax
evasion and to improve cross-border tax compliance.
On May 11th 2016, the OECD announced that Lebanon committed to
automatically share financial account information with other countries.
On October 27th 2016, the Lebanese Parliament promulgated Lebanese Law
Number 55 related to the “Exchange of Information for Tax Purposes”.
On May 12th 2017, the OECD announced that representatives of the Lebanese
government signed the CRS Multilateral Competent Authority
Agreement (MCAA), thereby re-confirming Lebanon’s commitment to implement the
automatic exchange of financial account
information and commence exchanges in 2018. Saradar Bank is committed to adhere to
the local and international regulations on tax evasion
and reporting requirements.
Over 148 countries have committed to CRS. The complete list of countries can be
found on the following link:
AEOI-commitments
CRS requires banks to report annually financial information related to accounts held
only by foreign tax resident.
This information consists of: full name, address, date of birth, country of
residence and taxpayer identification
number (“TIN”), account number, balance or value, the total gross amount of interest
and dividends as well as the
total gross proceeds from the sale or redemption of financial assets paid or
credited to the account.
As a valued customer, we kindly ask you to maintain your relationship manager
constantly informed on any update
relevant to your personal information.
Should you have any questions about the contents of this letter, please do not
hesitate to contact your relationship manager.
Please note that this communication is for information only and shall not be
considered in any case as tax advice.
However, we kindly advise you to refer to OECD for more information and explanations.
Foreign Account Tax Compliance Act
The Foreign Account Tax Compliance Act (FATCA) is US tax law enacted on March
18th, 2010.
The purpose of the legislation is to prevent a perceived tax abuse by U.S. persons
through
the use of off-shore financial accounts either directly or through the use of foreign
legal entities.
FATCA requires Foreign (non-US) Financial Institutions (FFIs) to identify US persons and
to provide the Internal Revenue Service Internal Revenue Service (IRS) with information on US accounts.
On November 29th 2013, the Central Bank of Lebanon requests by its
notification 897 all financial institutions operating in Lebanon to comply with FATCA
provisions
act to prevent financial and banking sectors from any risk.
On April 22th 2014, Saradar Bank has signed the FFI Agreement and thus
enrolled to the FATCA classification as a Participating FFI. This entails that the Bank
entered into
an agreement with the IRS, obtained a GIIN, assigned a Responsible Officer (RO) to
establish a compliance program that includes policies, procedures and process sufficient
steps to comply with FATCA rules, committed to identify US accounts, disclose the
requested information to the IRS.
In this context, Saradar Bank’s Global Intermediary Identification Number (GIIN) is
QBGCMS.99999.SL.422
FATCA requires to report yearly certain type of information related to its US customers
to the IRS through the
International Data Exchange Service (IDES).
This information consists of: full name, address, Tax Identification number
(“TIN”), account number, balance or value, the total gross amount of
interest and
dividends as well as the total gross proceeds from the sale or redemption of financial
assets paid or credited to the account.
If the customer refuses to waive the banking secrecy toward IRS or to provide
requested information and documents, or in case of contradiction or confusion in the
documents
submitted, to classify the client as defined by FATCA “Recalcitrant Account”, and to
terminate the relationship and to close the account with a reasonable period of time.
Should you have any questions about the contents of this letter, please refer to the
U.S. IRS department or to
your tax advisor for more information and explanations.
Lists of Tariffs
Please find below our lists of tariffs
