CBB Volume 5: Contents

Central Bank of Bahrain Volume 5—Specialised Licensees
Specific Modules (By Type of Licensee)
Type 7: Ancillary Service Providers
Part A
High Level Standards
GR Ancillary Service Providers General Requirements Module
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Location: Central Bank of Bahrain Volume 5—Specialised Licensees > Specific Modules (By Type of Licensee) > Type 7: Ancillary Service Providers > Part A > High Level Standards > GR Ancillary Service Providers General Requirements Module > GR-10 Customer Complaints Procedures > GR-10.5 Response to Complaints > Redress > GR-10.5.6
  • Redress

    • GR-10.5.3

      A licenseeG should decide and communicate how it proposes (if at all) to provide the customerG with redress. Where appropriate, the licenseeG must explain the options open to the customerG and the procedures necessary to obtain the redress.

      Added: December 2018

    • GR-10.5.4

      Where a licenseeG decides that redress in the form of compensation is appropriate, the licenseeG must provide the complainant with fair compensation and must comply with any offer of compensation made by it which the complainant accepts.

      Added: December 2018

    • GR-10.5.5

      Where a licenseeG decides that redress in a form other than compensation is appropriate, it must provide the redress as soon as practicable.

      Added: December 2018

    • GR-10.5.6

      Should the customerG that filed a complaint not be satisfied with the response received as per Paragraph GR-10.5.2, he can forward the complaint to the Compliance Directorate at the CBB within 30 calendar days from the date of receiving the letter.

      Added: December 2018

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