NBFIs asked again to form cells for client complaints

Bangladesh Bank yesterday asked non-bank financial institutions (NBFIs) to form "complaint cells" at both their head offices and branches so as to resolve complaints of clients. 

The central bank had earlier asked the NBFIs to form the cell but many have not taken up the initiative yet, for which the notice had been issued, said a BB official.        

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The number of complaints has gone up as the NBFIs have not resolved those on time, said the notice.

Many NBFIs do not even receive the complaints of customers while some others do not follow the central bank rules pertaining to resolving those.

The BB ordered the NBFIs to comply with its "Customer Service and Complaint Management Regulations" while addressing the complaints.

If any NBFI requires more time than stipulated to resolve complaints, it will have to give updates to this end to customers.

The names of officials assigned for resolving complaints will have to be displayed at suitable spots of branches and regional and head offices of the NBFIs so that clients can easily communicate with them.