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Finance 21/10/2024 Banks to establish internal procedures for handling customer complaints

Banks to establish internal procedures for handling customer complaints

Tashkent, Uzbekistan (UzDaily.com) — The Central Bank of Uzbekistan has updated the regulations regarding the minimum requirements for commercial banks in their dealings with banking service consumers.

These changes, registered with the Ministry of Justice on 11 October 2024, aim to enhance the way banks handle customer complaints.

According to the new requirements, banks must establish internal procedures for managing customer complaints and publish them on their websites.

Additionally, banks are required to set up a dedicated unit responsible for addressing complaints and disputes with clients. Employees in this unit will be empowered to conduct detailed analyses of complaints.

Furthermore, an internal control system for processing complaints will be implemented, and specific tasks will be assigned to the banks’ internal audits within this framework.

Banks will also be obligated to create an electronic information system for registering, receiving, classifying, and analyzing complaints, as well as identifying systemic deficiencies.

New requirements have also been established for preparing reports and analyses based on the results of complaint handling, enabling the development of action plans to address recurring issues.

These changes are intended to improve the quality and efficiency of customer complaint processing, identify the causes of dissatisfaction, and enhance the transparency of banking operations.

The new rules will take effect on 17 January 2025.

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