To file a complaint, visit our website or mobile app and choose the relevant option - either 'Make a Complaint Against a Licensed Financial Institution' or 'Make a Complaint Against an Insurance Company.' Follow the instructions provided to submit your complaint. Ensure you meet the eligibility criteria and include all necessary information and documentation to support your complaint.
Sanadak can assist with complaints about various financial and insurance products and services, including bank accounts, credit cards, personal loans and related services, health insurance, car insurance, property insurance, compensation complaints, general insurance, marine shipping, and life & investment insurance cases.
If you are dissatisfied with the decision of your complaint, you can escalate your case to: The Appeals Committee for Licensed Financial Institutions, or The Insurance Dispute Resolution Committee (IDRC) An initial fee is required for this process, which may be refundable if the decision is made in your favor.
You can track the progress of your complaint through our mobile app and website, both offering real-time updates on your case. The app enables you to stay informed about the status of your complaint at any time and from anywhere. Additionally, exclusively for people of determination and elderly consumers, we provide the option to track the complaint through our contact center.
Established in 2023 by the Central Bank of the UAE, Sanadak ensures impartial, independent resolution of financial and insurance complaints between Consumers, LFIs, and Insurance Companies, stepping in when internal processes fail. As the MENA region's first independent financial Sanadak Unit, Sanadak aims to fortify trust in the UAE's financial sector, fostering global recognition as a thriving financial hub.
Complaints can be filed against any Licenced Financial Institution or Insurance Company licensed by the Central Bank of the UAE.
Complaints are free to file for Consumers and SMEs. However, a charge for appealing the decision, which is AED 500 per appeal, is applied to the appellant.
Sanadak does not charge for initial complaints. Appeals fees will be refunded when the determination of the complaint is in favor of the appellant.
Complaints may be filed up to three years from the date of the conduct that generated the complaint or up to two years from the date the consumer became aware of the conduct, whichever is longer. Some exceptions to this may be considered based on the circumstances.
For Complaints against Licensed Financial Institutions, complainants can go directly to court. For complaints against Insurance Companies, complainants have to complain to Sanadak first and not to the courts. However, the courts may inform their decisions based on Sanadak’s detailed case investigation.
Yes, more than one complaint can be filed by Consumers/SMEs.
The complainant may withdraw the complaint at any time by giving a formal notice of withdrawal, in Writing, to Sanadak. Sanadak shall, within five business days, notify the Licensed Financial Institution or Insurance Company about the withdrawal of the complaint by the complainant.
Yes, if the reason for the rejection is addressed, you can file the complaint again.
Yes, we assist not only individual Consumers but also SMEs and business owners. If you represent an SME and have a financial or insurance-related complaint, you can file it through Sanadak following the same procedure as individual Consumers.
We expect LFIs and insurance companies to make every effort to resolve Consumer complaints internally. This involves a thorough review of all materials related to the complaint, requesting any additional necessary information from the Consumer, and conducting a final review before making a decision.
We expect LFIs and Insurance Companies to signpost consumers to Sanadak so that we can provide fair and efficient resolutions in accordance with relevant regulations and policies.
You can contact Sanadak for information via our email at info@sanadak.ae or by phone at 97141234567. Additionally, you can visit us at our office in Al Bateen - W34, Abu Dhabi, UAE. You can also visit our website's 'What to Expect' section.
You can contact Sanadak through various channels, including: - By phone at 800SANADAK (800 72 623 25). - Via email at info@sanadak.gov.ae. - Or by visiting our office at the Emirates Institute of Finance (EIF) Building, Sector E25, P15/A, Abu Dhabi. Additionally, you can fill out the 'Request Support' form on our website to directly reach out for help regarding complaints or other related issues.
Before escalating a complaint to Sanadak, a consumer should first raise the issue with the relevant Licensed Financial Institution (LFIs) or Insurance Company. They should wait for 30 calendar days for a response. Additionally, the complaint should not be a duplicate of another active complaint, nor should it be currently heard in a court of law. Lastly, the complaint must be against an LFIs or Insurance Company licensed by the Central Bank of the UAE.
Sanadak charges four types of fees: - An Annual Levy on LFIs and Insurance Companies. - Case Fees for each complaint closed by Sanadak during a financial year. - A Supplementary Levy, if necessary, to cover operational costs. - appeals fees, charged to the appellant of a complaint, which may be refunded if the complaint is resolved in their favor.
In cases where the Annual Levy and Case Fee are not sufficient to cover the operational costs of Sanadak, LFIs and Insurance Companies may be required to pay a Supplementary Levy. This is to ensure that Sanadak has the necessary funding to maintain its operations and meet its objectives.
Yes, the appeals fee can be refunded at the discretion of the Sanadak Unit. This typically occurs when the determination of the complaint is in favor of the appellant.
The Insurance Dispute Resolution Committee resides within Sanadak and is the first instance of any complaint about Insurance. Only disputes related to Insurance will be referred to an Insurance Dispute Resolution Committee.
All financial institutions and Insurance Companies licensed by the Central Bank of the UAE are mandatorily under the jurisdiction of Sanadak.
No, complaints filed directly to Licensed Financial Institutions or Insurance Companies are considered internal and outside Sanadak’s purview.
All existing complaints with the Central Bank’s Consumer Protection Department or Insurance Disputes Committee will be transferred to Sanadak with the same Reference Number.
