Bank consumers complaints desk in pipeline

In a bid to formalise and standardise complaints handling mechanism in the banking sector, the Bank of Tanzania (BoT) has established Complaints Resolution Desk that will start to operate next month.

The Deputy Governor of the Bank of Tanzania (BoT), Mr Lilla Mkila, said at the stakeholders’ workshop: Towards a Complaints Mechanism in the Banking Sector held in Dar es Salaam that the functioning of the Desk is part of the execution of the Financial Consumer Protection Strategy.

“There is no doubt that the full and effective operation of the Desk will go a long way in enhancing confidence of the banking community and hence financial stability in the country,” he said.

Mr Mkila said the workshop was timely because the banking institutions will be the first port of call within the framework of complaints handling process.

“This should be taken by banking institutions as an opportunity to maintain the existing customers as well as attracting potential clients into the bank,” he said.

He said BoT has developed guidelines for “Banking Consumers Complaints 2015” on how to lodge complaints and ensure consistent approach in resolving them.

He added, BoT has also issued a circular directing all banking institutions to put in place a complaint resolution mechanism. “I implore all banking institutions to work closely with the Desk in ensuring that directives given are fully complied,” he said.

In December, last year, the Tanzania Bankers Association (TBA) members adopted the code of banking practice 2014 that recognises the mandate of the Desk to resolve consumer complaints.
Source: Daily News, reported from Dar es Salaam, Tanzania
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