UAE launches 1st financial & insurance ombudsman ‘Sanadak’

UAE launches 1st financial & insurance ombudsman ‘Sanadak’

Sanadak, the Ombudsman Unit catering to consumers of Financial Institutions and Licensed Insurance Companies, has started its operations in line with the UAE leadership’s directive to enhance government services, and in accordance with the regulations set by the Central Bank of the UAE. Sanadak is the first legally established independent Ombudsman Unit, with a focus […]Sanadak, the Ombudsman Unit catering to consumers of Financial Institutions and Licensed Insurance Companies, has started its operations in line with the UAE leadership’s directive to enhance government services, and in accordance with the regulations set by the Central Bank of the UAE.

Sanadak is the first legally established independent Ombudsman Unit, with a focus on safeguarding consumers’ rights and resolving complaints that arise from dealings with Financial Institutions and Licensed Insurance Companies.

Following the UAE’s Emiratization agenda of empowering national talent, Sanadak will be managed and operated 100 percent by UAE Nationals. Sanadak is the first Ombudsman Unit both in the UAE and the MENA region, catering to consumers of Financial Institutions and Licensed Insurance Companies.

Sanadak will assume all consumer complaint handling duties previously carried out by the Central Bank of the UAE’s Consumer Protection Department and Insurance Dispute Resolution Committee.

The establishment of Sanadak signifies a