The Central Bank of the UAE is the government owned regulatory authority that oversees banks, finance and investment companies, exchange houses and financial and monetary intermediaries operating in the country. 

The Consumer Protection Department of the Central Bank is responsible for safeguarding consumers against financial misconduct by the above-mentioned organizations. Some shielding measures include passing regulations, promoting education and awareness, quality control, as well as monitoring and resolving complaints.

Negotiating with the concerned financial organization

If you are facing a dispute with a bank or financial organization, the first step is to address it directly with the organization and give them a chance to respond. You must have clear and detailed documentation of the complaint lodged, which is a necessary requirement if the conflict is escalated to the Central Bank. 

If, however, you are not satisfied with the grievance redressal process of the concerned organization or if you haven’t received a response within a reasonable time frame, it is acceptable to appeal to the Central Bank.

[Related: Central Bank reveals most common customer complaints in the UAE]

Approaching the Central Bank

The Consumer Protection Department of the Central Bank has been set up for the very purpose of helping customers resolve disputes with financial institutions. The Central Bank works hard towards protecting consumer rights as well as moderating discussions related to issues that may arise between the member banks and their customers. 

Grievances can take many forms. The Central Bank urges consumers in the UAE to lodge a complaint if they think a financial institution has been misleading or deceiving them, holding back documentation, delaying remittances, dealing in unfair practices, violating consumer protection laws and regulations or is discriminating against them in issuing a loan.

Filing your complaint

A complaint to the Central Bank can be registered in several ways. You can choose your preferred channel from the following:

  1. Online through the complaint form on the Central Bank of UAE website
  2. Faxing the complaint to +971 2 6916004
  3. In person at any of the Central Bank branches in Dubai, Sharjah, Al Ain, Ras Al Khaimah or Fujairah

You can also call the Consumer Protection Department of the Central Bank at 800 CBUAE (800 22823) for consumer complaints and enquiries. They will walk you through the process of registering a complaint and answer any questions you might have. 

Make sure you submit copies of statements, receipts and related paperwork that is required to support your claim. This helps the Central Bank assess your situation and process your application more efficiently. It is also necessary to produce documents verifying that you took up the matter with concerned organization first. 

Once the complaint has been filed, a reference number will be generated by the Central Bank. You will be required to quote this number to monitor the status of your complaint, in future dialogues with the Central Bank and for following up on your application.

You will be notified via phone, email or SMS when a decision regarding your complaint has been reached.

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