Customer Protection
The company seeks to protect customers from unprofessional practices that they may be exposed to when carrying out their transactions, and works to preserve their rights and ensure their access. As the application of these principles helps to achieve the desired goals and helps them determine the responsibilities and duties of each party, and the scope of these principles includes the company’s clients (current and future).
1. General Principles
2. Mutual Responsibilities
The company seeks to raise the level of knowledge and appropriate training for its employees in order to enhance mutual responsibilities through the dissemination of continuous awareness and education programs for customers and employees, and the mutual responsibilities that should be emphasized include the following:
The customer must provide complete and accurate information when filling out any forms of the company, and refrain from providing misleading, false or incomplete information and update the data when needed.
The customer must read all the details that explain his obligations in return for obtaining the financing product or service, and make sure that he understands these obligations and is able to abide by their terms.
The customer should inquire if any clause or conditions in the financing agreement or any other documents provided by the company are not clear, and ask questions to the company’s employees and the company’s employees must answer those questions in a clear professional manner that helps the customer to take the appropriate decision.
The client must make sure that the issued copy of the financing agreement includes all the basic information, including – but not limited to – the client’s personal data, the amount of financing, the annual percentage rate and a summary of the financing agreement, and it also includes all the accessories of the agreement such as the payment schedule and the attached declarations and others.
The necessary information and data must be provided to the client that explains the mechanism for submitting the complaint, such as contact numbers and addresses for submitting and following up on the complaint, and the time frame for informing the client of the outcome. The customer should take the initiative to use this service and know how to raise the complaint to higher levels when necessary.
The customer shall not use the financing product or service except in accordance with the terms and conditions associated with it, after making sure that he fully understands them.
Some financing products or services contain varying levels of risks, which the employee must clarify in writing to the client. The customer should also not purchase any financing product or service when he feels that the risks are not commensurate with his financial position.
When submitting an application to obtain the financing product or service, the employee must ensure that it is suited to the customer’s needs, and the customer must disclose all parties, and that he can fulfill his obligations after obtaining the financing product or service.
The employee shall instruct the customer to inform him immediately upon discovering any irregular procedures affecting the product or service provided, and he shall correct and treat these procedures in order to avoid recurrence.
The customer must communicate with the company to request advice in the event that he encounters financial difficulties and is unable to bear the obligations of the product or the financing service, and the company must discuss the options available to him in proportion to his financial situation.
The customer must update his personal information, including contact data, including phone and mobile numbers, mailbox and e-mail, so that the update is continuously and whenever the company requests it, and the customer will be responsible for the consequences of not providing the company with updated information. He must not use other addresses that do not belong to him, such as friends or relatives, as this may lead to the disclosure of his financial information.
The client should be careful when granting an official power of attorney to another person to carry out his financial transactions. And he must know the risks when granted.
The customer must ensure that all required fields and numbers are completed in the forms submitted to the customer for signature, and the customer must not sign blank or incomplete forms.
The customer must review all the information that he has entered into the forms to ensure that the information is correct and that there are no errors in the data recorded, and the employee must make sure of that as well, and the customer must be aware that his signature on the form means approval of the content of the form.
The employee must emphasize the responsibility of the client not to disclose any personal or financial information to any party other than the company and under any circumstances.
The customer is obligated to pay the due monthly installment on its date without delay, as the delay in paying the installment is considered a breach of the agreement and entails an increase in the burdens.
The customer must preserve the financing asset and confirm his responsibility for any misuse before the official authorities.
3. Terms and Conditions
- The employee must provide the updated terms and conditions for the product or financing service to the customer, whether through a general booklet that includes the terms and conditions, or providing a special brochure for that, or through other channels available to the company and encouraging the customer to read it before the beginning of the relationship.
- The employee must include the terms and conditions and application forms warning statements stating the possible consequences that the customer may bear when using the financing product or service other than the terms agreed upon in the application form.
- The employee must ensure that all terms and conditions are included in the application form for obtaining the financing product or service that the customer fills out in Arabic, provided that it is clear, understandable and not misleading, with a copy in English if the customer requests it.
- The employee must inform the customer through secured means of communication of any change in the terms and conditions within (30 working days) at least before making any change.
- The employee shall allow the client to object if he does not agree to this change in the terms and conditions by notifying the company of his objection within (5 working days) after receiving the notification of the aforementioned changes through secured means of communication, and the aforementioned notification should include the objection period, duration and procedures .
4. Data protection
The company’s employees, whether permanent or temporary employees, shall be careful to maintain confidentiality regarding customer data and to ensure that they do not disclose the financial and personal information of customers and prevent access to it except for authorized persons only, whether during work or after leaving their jobs.
5. Before or upon conclusion of the financing agreement:
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Before concluding the financing agreement, the employee must disclose to the clients the procedures for dealing with the financing agreement in the event of the death of the client who was granted the financing.
6. After concluding the financing agreement:
3- The company’s representatives and others who are entrusted with its rights under the financing agreement, must not take any illegal measures to recover the amounts owed to them.
2- The employee shall provide the customer with a free statement of operations (electronic or paper) – on a quarterly basis – showing the payments made and the remaining payments, if the customer requests that.
1- The employee must issue a letter of release to the client (clearance) and update the client’s credit record with the company (credit information), in the event that the client pays the full amount of financing and submits all the necessary documents, within a maximum period of (7 working days) from the date of payment.
7. General Provisions:
1- The employee should take into consideration the humanitarian cases when dealing with clients who have urgent financial difficulties.
2- The employees shall put the branch working hours in the main entrance of the branch according to the number of hours announced.
3- The employee shall not discriminate between its clients (current and future) in an unfair and unfair manner based on race, gender, religion, color, age, disability, marital status or any other form of discrimination in various transactions, including financing products.
8. Errors and Complaints
Errors (crashes):
1- The employee shall return any collected amounts that may arise due to an error (malfunction) to the account of the injured party without delay and without waiting for a claim and he is not entitled to benefit from it.
2- The employee must address the error towards the customer and all other customers who have been exposed to the same error, in the event that he is informed of any error as a result of a customer filing a complaint or claim, and he must complete this procedure within (5) working days from the date of determining the original error, and contact all customers Those affected are informed of the error and of the corrective measures that have been taken.
Complaints:
The finance officer, upon receiving customer complaints, must do the following:
1- Notifying the customer through secured means of communication of receiving the complaint and informing them of the shortcomings (if any) within (5 working days)
2- Providing the customer with the complaint number and contact data to follow up on the developments on the submitted complaint.
3- Respond with the results to the client within a period not exceeding (10 working days) from receiving the completed complaint.
4- Documenting the channel used to communicate with the complainant and keeping its records.
