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Charter of Customer Rights and Statement of Customer Responsibilities

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
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.
We will take responsibility for our decisions and actions.
We will seek to understand our customers’ requirements and identify what is important to them by actively listening and responding to their needs.

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.
We will act with care, diligence, honesty, and integrity as we serve our customers.

Transparency

We will provide clear, relevant, and timely information about our products and services to our customers.


Our customers’ rights

Principles Commitments
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:

  1. Customers are provided with contracts, agreements, and terms and conditions that are clear, transparent, easy to understand, and presented in straightforward language.
  2. Customers are protected from unfair business or marketing practices, coercive contractual terms, and misleading representations.
  3. Customers are safeguarded against physical harm, undue influence, or harassment during their relationship with the Bank.
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.
Customers have the right to be protected from any form of communications, whether electronic or otherwise, that infringes on their privacy.

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
  1. The Bank is responsible for developing financial programmes and raising customer awareness about financial risks and opportunities, allowing them to make informed decisions about their financial needs.
  2. Bank officials will not obtain or accept consumer mandates on incomplete or blank documents or forms, ensuring such practices do not compromise consumers’ interests.
  3. Bank officials must address customers’ queries satisfactorily and guide them to the next higher authority for further resolution if the response does not meet customers’ expectations.
  4. The Bank will protect customers from unfair practices, such as misleading or false advertising, while upholding customers’ right to privacy. The Bank strictly prohibits any form of unsolicited calls, emails, or messages unless they pertain to customers’ existing relationship with the Bank.
  5. The Bank has robust sales procedures in place, ensuring its officials avoid improper sales practices, misrepresentation, aggressive high-pressure sales tactics, and discrimination during the sales process. Additionally, bank officials will ensure that sales materials do not minimise or disregard warnings or cautionary statements.
  6. Sales representatives are required to disclose any actual and potential conflict of interest to customers, particularly when providing advice prior to the customer enters into an agreement.
  7. Bank officials will only contact customers during regular business hours unless a prior arrangement has been made with the customer.
  8. The Bank strictly refrains from using threatening, offensive, obscene, discriminatory, or aggressive language or behaviour in debt collection cases. It does not harass relatives or co-workers, publicly embarrass or shame debtors, engage in intimidating behaviour, use violence or physical force, or mislead borrowers regarding the extent of their debt or the consequences of non-payment.

Our customers’ responsibilities and duties

Customer responsibilities and duties Description
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.
Customers are responsible for informing the Bank of any changes to their Know Your Customer-related (KYC) information, including, but not limited to, their address, contact details, and financial circumstances.

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:

  • Main Branch
  • Al Khuwair Branch
  • Mall of Oman Branch
  • Al Khoudh Branch
  • Sohar Branch
  • Al Buraimi Branch
  • Salalah Branch
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.

Talk to us

You can contact us with the contact below

Oman Helpline
800 76076

International Helpline
+968 24 761076

Customer Queries
customersupport.oman@bankfab.com

Customer Complaints
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