Issuance Date 24/07/2017

                 Based on the role of the Saudi Arabian Monetary Agency in promoting the concept of protecting customers of financial entities subject to its supervision, and in continuation of the institution’s efforts to improve the customer experience when dealing with these entities, and the importance of developing the efficiency and effectiveness of handling complaints, we are pleased to inform you of the launch of the "SAMACares" system, which will enable its users to analyze various types of complaints and follow their patterns according to each product and service.

                 Complaints are considered one of the most important indicators and sources for developing services and products. In order to emphasize customers’ right to submit complaints, we would like to emphasize the necessity of amending policies and procedures to fit the definition of a complaint as "every expression of dissatisfaction related to the service provided, whether justified or unjustified, in writing or verbally"*.

With reference to the controls for handling complaints and related circulars, and to ensure that the statutory periods in handling the complaint are not exceeded, financial entities shall adhere to the “SAMACares” system to implement service levels agreements, which excludes the period during which the complaint is referred to the customer, according to the following periods:

1. Responding to complaints received directly from customers within a maximum period of five working days from the date of receipt.
2. Responding to customer complaints in which the institution accepted the customer’s objection to the entity’s response within a maximum period of three working days from the date of requesting the statement.
3. Responding to complaints that have been classified by SAMA as being of high importance within two working days from the date of requesting the statement.

Accordingly, SAMA expects you to provide support to the relevant departments with the appropriate powers and the human and material resources necessary to ensure compliance with what was indicated above, provided that the process of analyzing complaints is given priority and adequate attention by senior management, noting that SAMA will evaluate the work of the financial entities according to the following performance indicators:

1. Percentage of complaints in which customers objected to the entity’s response.
2. Percentage of complaints in which customers’ objection to the entity’s response was accepted.
3. Average period of response to complaints according to the classification mentioned in the service level agreement.
4. The rate of correspondence between SAMA and the financial entity from accepting the customer’s objection until closing the complaint.**

* According to Circular No. (371000101671) dated 17/09/1437 AH.

** For details, click on “measuring performance indicators of financial entities”.