Sama: the customer has the right to refund the costs in this case



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Citizen – Riyadh

The Saudi Monetary Agency (SAMA) has specified that the customer can recover fees and commissions paid in exchange for a service or a banking product.

The account "Sama Catheter": the customer is entitled to recover the amounts of fees and commissions paid when obtaining a service or a banking product, provided that he not be used or benefit from it within ten days.


The Saudi Monetary Agency (SAMA) has previously called insurance agents to know their rights with insurance companies, which are guaranteed by regulations, regulations and instructions under the supervision and control of the insurance company. SAMA control.

In a statement, Sama explained that the rights that insurance companies must respect towards the customer are as follows:

– Treatment with credibility: Insurance companies must demonstrate credibility and fulfill their financial and legal obligations in accordance with regulations, particularly for low-income individuals, seniors and persons with special needs of both sexes.

– Transparency and clarity: the disclosure of all the rights of each part of the insurance relationship.

– Educate customers: Initiate initiatives to educate current and future customers about the insurance culture, so that they can know the risks and make the right decisions.

– Professional in the transactions: the employees of the insurance companies must treat their customers with professionalism, in proportion to their interests in insurance.

– Non-discrimination: provide services to clients regardless of sex, color, gender or religion.

– Fraud protection: Insurers must enforce security standards to monitor insurance operations and protect against fraud.

– Maintain the confidentiality of customer information: limit the use of financial, personal and insurance information to the customer in the only professional field, without disclosing them to any party without the prior authorization of SAMA.

– Claims Processing: Develop appropriate mechanisms for clients to file claims, allowing the company to track and process claims.

– Increase in the degree of competition: provide services of the highest quality and at the lowest price without prejudice to the regulations and regulations governing the insurance market.

– Commitment of service providers on behalf of insurance companies: The company must ensure that the contracting parties provide services in a way that ensures the interests of the customers.

– Conflicts of interest: Identify in writing the necessary procedures in the event of a conflict of interest, ensure fair treatment with all clients and warn them of any potential conflict of interest between the company and any other entity.

– Adequate resources: Recruitment of trained managers and provision of sufficient operational financial resources to carry out its work effectively and serve its clients in all regions.

The Saudi Arabian Monetary Agency (SAMA) has stated that the customer can recover fees and commissions paid in exchange for a service or a banking product.

The account "Sama Catheter": the customer is entitled to recover the amounts of fees and commissions paid when obtaining a service or a banking product, provided that he not be used or benefit from it within ten days.

The Saudi Monetary Agency (SAMA) has previously called insurance agents to know their rights with insurance companies, which are guaranteed by regulations, regulations and instructions under the supervision and control of the insurance company. SAMA control.

In a statement, Sama explained that the rights that insurance companies must respect towards the customer are as follows:

– Treatment with credibility: Insurance companies must demonstrate credibility and fulfill their financial and legal obligations in accordance with regulations, particularly for low-income individuals, seniors and persons with special needs of both sexes.

– Transparency and clarity: the disclosure of all the rights of each part of the insurance relationship.

– Educate customers: Initiate initiatives to educate current and future customers about the insurance culture, so that they can know the risks and make the right decisions.

– Professional in the transactions: the employees of the insurance companies must treat their customers with professionalism, in proportion to their interests in insurance.

– Non-discrimination: provide services to clients regardless of sex, color, gender or religion.

– Fraud protection: Insurers must enforce security standards to monitor insurance operations and protect against fraud.

– Maintain the confidentiality of customer information: limit the use of financial, personal and insurance information to the customer in the only professional field, without disclosing them to any party without the prior authorization of SAMA.

– Claims Processing: Develop appropriate mechanisms for clients to file claims, allowing the company to track and process claims.

– Increase in the degree of competition: provide services of the highest quality and at the lowest price without prejudice to the regulations and regulations governing the insurance market.

– Commitment of service providers on behalf of insurance companies: The company must ensure that the contracting parties provide services in a way that ensures the interests of the customers.

– Conflicts of interest: Identify in writing the necessary procedures in the event of a conflict of interest, ensure fair treatment with all clients and warn them of any potential conflict of interest between the company and any other entity.

– Adequate resources: Recruitment of trained managers and provision of sufficient operational financial resources to carry out its work effectively and serve its clients in all regions.




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