{"id":320525,"date":"2024-04-22T15:30:38","date_gmt":"2024-04-22T10:00:38","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=320525"},"modified":"2024-04-22T15:46:36","modified_gmt":"2024-04-22T10:16:36","slug":"consumer-protection-uae-launch-sanadak-finance-insurance-cbuae-legal-news","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2024\/04\/22\/consumer-protection-uae-launch-sanadak-finance-insurance-cbuae-legal-news\/","title":{"rendered":"Central Bank of UAE launches \u2018Sanadak\u2019, UAE\u2019s first Financial &amp; Insurance Ombudsman"},"content":{"rendered":"<div style=\"text-align: justify; line-height: 150%;\">\n<p style=\"margin-bottom: 3%;\"><span style=\"font-weight: bold;\">Central Bank of United Arab Emirates (CBUAE):<\/span> On 07-3-2024, the CBUAE announced the launch of &#8216;Sanadak&#8217;, the Ombudsman Unit catering to consumers of Financial Institutions and Licensed Insurance Companies. Starting its operations in March 2024, &#8216;Sanadak&#8217; is in line with the United Arab Emirates (UAE) leadership&#8217;s directive to enhance government services, and in accordance with the regulations set by the CBUAE. <span style=\"font-weight: bold;\">Sanadak is the first Ombudsman Unit both in the UAE and the MENA (Middle East and North Africa) region, catering to consumers of Financial Institutions and Licensed Insurance Companies.<\/span><\/p>\n<p style=\"margin-bottom: 3%;\">It is significant to note that &#8216;Sanadak&#8217; 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 and it will assume all consumer complaint-handling duties previously carried out by the Central Bank of the UAE&#8217;s Consumer Protection Department and Insurance Dispute Resolution Committee. Furthermore, Sanadak will be managed and operated 100% by UAE Nationals.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p style=\"font-style: italic;\">Sanadak is the first Ombudsman Unit both in the UAE and the MENA region, catering to consumers of Financial Institutions and Licensed Insurance Companies.<\/p>\n","protected":false},"author":3,"featured_media":320535,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[14,4],"tags":[67824,67823,11241,67822,67825,16871,67821,30768],"class_list":["post-320525","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-foreign","category-legislationupdates","tag-cbuae","tag-central-bank-of-uae","tag-consumer-protection","tag-financial-and-insurance-ombudsman","tag-mena-region","tag-ombudsman","tag-sanadak","tag-uae"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Consumer Protection | CBUAE launches \u2018Sanadak\u2019, UAE\u2019s first Financial &amp; 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