The Central Bank of Egypt (CBE) has released comprehensive guidelines for banks, detailing the required procedures for addressing customer complaints effectively. In its recent circular to all banks, the CBE emphasized the importance of adhering to these guidelines to safeguard customer rights. The CBE insists on banks providing adequate resources to the Customer Protection Unit and other relevant departments to ensure efficient complaint handling. In handling complaints, banks should evaluate them swiftly and equitably, adhere to the principle of good faith, and avoid requesting irrelevant documents or information. Finally, the CBE requires banks to issue a written or electronic response to customer complaints within a maximum of 15 days from receipt.

Source: Daily News Egypt May 12, 2024 19:15 UTC