Policy & Legal Updates
UAE Sanadak Guide Details Banking and Insurance Dispute Resolution for SMEs
Emirates 24|7 published a regulatory guide outlining how consumers and small-to-medium enterprises in the UAE can resolve disputes with licensed banks and insurance firms through Sanadak. Established in 2023 under Central Bank supervision as the MENA region's first financial ombudsman, Sanadak handles issues spanning accounts, loans, mortgages, virtual currencies, and insurance. Complainants must first give institutions 15 days to resolve matters, with initial filings being free and appeals subject to a refundable Dh500 fee.
