Introduction
This Charter of Customer Rights (“the Charter”) contains the service standards customers can expect when engaging with FAB Oman (“the Bank”). These standards are aligned with the Financial Consumer Protection Regulatory Framework issued per Circular No. BM 1184 by the Central Bank of Oman, dated 30 December 2021.
The adoption of this Charter affirms the Bank’s commitment to offering exceptional banking services in accordance with the market’s best practices and the applicable laws and regulations. This Charter also outlines the Bank’s commitments and responsibilities and provides steps for customers to log complaints if they are not satisfied.
The Statement of Customer Responsibilities (“the Statement”) defines the Bank’s commitments to its clients, ensuring service delivery that meets customers’ expectations.
The Charter and the Statement are two documents that may be reviewed and altered periodically to reflect changes in the business environment and banking industry regulatory requirements. The Charter represents the Bank’s commitment to serving its customers and should not be regarded as a legally binding document.
Who we are
The Bank commenced operations in Oman in 1976 in the Muttrah Business District of Muscat. Since then, it has strived to expand its business in the Sultanate by gradually enhancing its branch network and product range.
Our vision is to create value for our customers, employees, shareholders, and communities to grow stronger through our mission, differentiation, agility, and innovation.
Our values focus on the following:
Customer First
We use our resources to serve our customers and put them at the heart of everything we do.
Knowledgeable
We continuously work towards developing an in-depth knowledge of our customers, products, capabilities, markets, and communities to enable us to create value for our customers and stakeholders.
Enterprising
We are agile, innovative, proactive, and focused on creating solutions that enable our customers and stakeholders to grow stronger.
Collaborative
We respect and value each other and always work as one team united in the joint quest to grow stronger.
Trusted
We always strive to do the right thing, valuing integrity, honesty, and long-term relationships to drive sustainable results.
Charter of Customer Rights
The Bank’s commitments towards its clients include the following:
Principles | Commitments |
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Excellence | We will strive to consistently deliver a high level of service to our customers. |
Accountability |
We will ensure our services comply with the relevant laws and regulations. |
Fairness | We will remain impartial and uphold ethical standards in all customer interactions, ensuring that issues are resolved fairly and promptly. |
Privacy and confidentiality | We will handle all customer account information with the utmost privacy and confidentiality, ensuring its use remains safe and secure. |
Reliability | We will provide consistent service that aligns with our service standards and aim to exceed customers’ expectations. |
Transparency | We will provide clear, relevant, and timely information about our products and services to our customers. |
Our customers’ rights
Principles | Commitments |
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The right to excellent and efficient service | To be served with respect, professionalism, and in a timely manner. |
The right to fair treatment | To be treated with courtesy and not discriminated against based on gender, age, religion, caste, or physical ability. |
The right to suitability of products and services |
The Bank should ensure that:
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The right to privacy and protection of data | Customers’ personal information shall be kept confidential unless they have offered explicit consent to the Bank, disclosure is required by law or regulation, or if the information is for legitimate business reasons, such as credit information companies. |
The right to grievance redressals and compensation | Customers have the right to hold the Bank accountable for its products and services and to expect a clear and accessible process for resolving any valid grievances, including ones stemming from the Bank’s sale of third-party products, such as insurance. |
The right to customer awareness | Customers are entitled to receive clear and transparent information about products and services, including pricing, associated risks, and the terms and conditions throughout the product or service life cycle, as well as the responsibilities of the customer and the Bank. |
The right to work ethics and professionalism from Bank employees |
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Our customers’ responsibilities and duties
Customer responsibilities and duties | Description |
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Be honest with the information provided and update information with the Bank regularly | Customers should always provide complete and accurate information when filling out bank documents. |
Carefully read all information provided by the Bank | When applying for a bank product or service, customers should ensure they have access to and fully understand all the obligations associated with the product or service and commit to complying with them. |
Ask questions and seek clarity | Customers should ask bank employees questions about anything that is unclear or a condition they are unsure about. Customers should only make decisions when they fully understand all product or service details. |
Know how to make a complaint | Customers can log complaints or queries through the following channels:
Branches:
|
Use the product or service in accordance with the terms and conditions | Customers should only use products or services in accordance with their terms and conditions after they have thoroughly understood them. |
Avoid risk | Customers must seek clarification from the Bank regarding the risks associated with its financial products or services before purchasing or using them. Customers should only request products and services that meet customers’ needs and risk appetite. |
Disclose to the Bank all existing financial obligations when applying for products or services | Customers should disclose all their financial obligations with other parties to the Bank when applying for products or services to ensure decisions are made based on their ability to meet the additional obligations after obtaining the product or service. |
Report unauthorised transactions to the Bank | Customers should immediately report any unauthorised transactions in their bank accounts to the Bank. |
Do not disclose banking information to third parties | Customers should never under any circumstances provide sensitive personal information, banking details, or financial information, such as bank statements, card numbers, or passwords, to any other party. |
Communicate to the Bank if financial difficulties are encountered | By engaging with the Bank, customers can explore possible alternative repayment arrangements to ensure the full repayment of their responsibilities to the Bank. |
Use of own mail address | Customers should only use their own postal and email addresses when providing their contact details to the Bank to protect their financial data. Customers must not use the addresses of relatives or friends when dealing with the Bank. |
Review all documents before signing | Customers should review all their documents to ensure that all required fields, numbers, and information are inserted correctly before signing them to ensure there are no errors in the information provided. Customers’ signatures are an approval and agreement of a document’s content. Customers should not sign empty or partially completed forms. |
Safekeeping of documents provided by the Bank | Customers should obtain copies of signed contracts and other relevant documents from the Bank and store them safely and securely. |
Banking that Delivers
You can customise your banking experience to suit your needs.
Talk to us
You can contact us with the contact below
Oman Helpline | |
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800 76076 |
International Helpline | |
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+968 24 761076 |
Customer Queries | |
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customersupport.oman@bankfab.com |
Customer Complaints | |
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customercomplaints.oman@bankfab.com |
Address
Head Office
Muscat, Oman
P.O. Box 303
Working Hours
Sunday to Thursday
8:00 am to 2:00 pm