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 pivotal moment in enhancing efficient and effective mechanisms for receiving, processing, and settling consumer complaints transparently and impartially in accordance with applicable laws and international best practices.
Further, Sanadak reduces the need to take claims to courts and judicial authorities, thereby bolstering consumer confidence and elevating the protection of financial consumer rights, through collaborative efforts with financial institutions and licensed insurance companies.
Commenting on the launch of Sanadak, Fatma Al Jabri, Chairperson of Sanadak, stated that, “The launch of Sanadak demonstrates the UAE’s commitment to strengthening the financial services sector for sustainable growth, in line with international best practice. Sanadak aims to set the pace for the effective resolution of financial and insurance complaints.”
“Sanadak is committed to safeguarding consumer rights, enhancing consumer satisfaction, and fostering financial inclusion, and developing government services. This initiative aims to bolster competitiveness and drive substantial growth and stability within the UAE’s financial sector and the broader national economy,” Al Jabri added.
