For Licensed Financial Institutions (LFIs) and Insurance Companies
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For Licensed Financial Institutions (LFIs) and Insurance Companies

Our guidance for Licensed Financial Institutions (LFIs) and Insurance Companies with key strategies and best practices for effectively addressing consumer complaints before escalation to Sanadak.

For Licensed Financial Institutions (LFIs) and Insurance Companies

Achieving a resolution before Sanadak

Before reaching out to Sanadak, it's important for consumers to attempt to resolve their issues directly with the Licensed Financial Institutions (LFIs) or Insurance Companies. These entities are expected to have their own internal complaint resolution processes in place.

Waited 30 calendar days for response from LFIs or Insurance Company

The complaint is not a duplicate of another previous or active complaint

The complaint is not being heard in a court of law

The complaint is against a Licensed Financial Institutions (LFIs) or Insurance Company licensed by the Central Bank of the UAE

Frequently Asked Questions (FAQs)

What are the fees charged by Sanadak?

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 Fee, charged to the appellant of a complaint, which may be refunded if the complaint is resolved in their favor. 

What happens if the Annual Levy and Case Fee are insufficient to cover Sanadak's operations?

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.

Can the appeals fee be refunded?

Yes, the appeals fee can be refunded at the discretion of Sanadak. This typically occurs when the determination of the complaint is in favor of the appellant.

How can I contact Sanadak for more information or assistance?

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. 

How is Sanadak related to the Insurance Dispute Resolution Committee?

The Insurance Dispute Resolution Committee resides within Sanadak and is the first instance of any complaint about Insurance Companies. Only disputes related to insurance will be referred to an Insurance Dispute Resolution Committee.

Is participation with Sanadak mandatory for Licensed Financial Institutions and Insurance Companies?

All Licensed Financial Institutions and Insurance Companies licensed by the Central Bank of the UAE are mandatorily under the jurisdiction of Sanadak.

Do Licensed Financial Institutions or Insurance Companies have to inform Sanadak if a complaint has been lodged against them?

No, complaints filed directly to Licensed Financial Institutions or Insurance Companies are considered internal and outside Sanadak’s purview.

What happens if a Licenced Financial Institution or Insurance Company is already dealing with a compliant appeal via the Central Bank’s legacy Consumer Protection Agency or Insurance Dispute Resolution Committee?

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.