Central Bank Introduces Electronic Platform for Handling Customer Complaints BY DINAR REVALUATION, 15 AUGUST

“To manage customer complaints” .. The Central Bank creates an electronic platform for financial institutions

The National Bank declared, on Wednesday, the making of an electronic stage to oversee objections from clients of monetary organizations.

The bank expressed in a proclamation that it “looks to robotize crafted by the monetary area to decrease reputational dangers and upgrade trust between every monetary establishment and general society. In this regard, it has developed an electronic platform for managing complaints. Its primary function is to automate the financial institutions’ receipt of public complaints via the link on the complaint form and to manage their processing under the supervision of the Central Bank.

He proceeded, “The reaction period for a protest documented against monetary organizations on the stage requires somewhere in the range of one and five, not entirely set in stone by the National Bank of Iraq through the framework for every grumbling in view of its temperament and the significance of handling it. In the event that monetary organizations don’t answer the grievance coordinated to them through the framework inside the predetermined time, a fine of (100,000 Iraqi dinars) will be forced for every objection for every day of postponement.”

ANALYSIS

Central Bank Introduces Electronic Platform for Handling Customer Complaints

On Wednesday, the National Bank announced the launch of a new electronic platform designed to manage customer complaints related to financial institutions. This initiative aims to automate and streamline the handling of public grievances to reduce reputational risks and enhance trust between financial institutions and the public.

The platform's primary function is to facilitate the receipt of complaints from the public and ensure their processing is supervised by the Central Bank. Through this system, complaints will be automatically routed to the relevant financial institutions for resolution.

According to the National Bank, responses to complaints filed through the platform are required within a period ranging from one to five days. The exact response time will be determined by the system based on the nature and urgency of each complaint. Financial institutions that fail to address complaints within the specified timeframe will face a daily fine of 100,000 Iraqi dinars for each delayed complaint.