NBFIs asked to form complaint cells

The Bangladesh Bank on Monday asked the non-bank financial institutions (NBFIs) to form complaint cells and settle clients’ complaints as per the guidelines on customer services and complaint management.

The central bank issued a notice in this regard, saying that the complaints must be settled and reported in accordance with the BB guidelines.

The complaint cells would have to be formed at the NBFIs’ head offices along with regional and branch-level offices and supervised by their chief executives, according to the notice.

The central bank found that the complaints against the non-bank financial institutions have been increasing due to the unsettled complaints at the NBFIs while most of the institutions do not receive clients’ complaints, which prompted the regulator to issue the notice.

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The BB notice said that the NBFIs must provide the clients with acknowledgement slip after submission of complaints.

Earlier on June 13, the Bangladesh Bank directed banks to settle clients’ complaints within 10 days, adding the deadline should not cross 45 days under any circumstances.

It issued a notice in this regard, saying banks would have to form cells supervised by their chief executives to deal with such complaints.