Central Bank of United Arab Emirates (CBUAE): On 07-3-2024, the CBUAE announced the launch of ‘Sanadak’, the Ombudsman Unit catering to consumers of Financial Institutions and Licensed Insurance Companies. Starting its operations in March 2024, ‘Sanadak’ is in line with the United Arab Emirates (UAE) leadership’s directive to enhance government services, and in accordance with the regulations set by the CBUAE. 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.
It is significant to note that ‘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 and it 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. Furthermore, Sanadak will be managed and operated 100% by UAE Nationals.
