Charter of Customer Rights and Responsibilities

Al Omaniya Financial Services SAOG is a Non-banking Financial Institution licensed by the Central Bank of Oman and a joint stock company listed in the Muscat Securities Exchange. Al Omaniya Financial services’ mission is to be the best financial services company through ethics and excellence today and tomorrow. The company believes that protection of customers’ interest is an integral aspect of financial inclusion and to substantiate that, the following comprehensive Charter of Customer Rights and Responsibilities has been put in place. The Charter preserves the basic rights of the customers of the company and spells out the responsibilities of the customers. This Charter applies to all products and services offered by the company.

Our service commitments to our customers will be guided by the following principles:

• Right to Fair Treatment
• Right to Transparency
• Fair and Honest Dealing
• Right to Suitability
• Right to Privacy
• Right to Customer complaints & grievances

The customers of Al Omaniya Financial Services have the following rights.

• The right to be treated fairly and with respect in a timely manner, without any discrimination with respect to gender, age, religion, race, or physical ability when offering and delivering financial products.
• The right to be given accurate information about the products and services offered by the company. The company would provide complete, clear, accurate, and timely information on the material aspects of the financial products and services offered by the Company as well as the terms and conditions, fees and charges, risks and any other relevant information that may affect your decision or experience. 
• The right to be able to understand the terms and conditions of loan agreements and Key Facts statements with the company. The company will ensure complete transparency so that the customer can have a better understanding of the company’s products and services. The company would provide the customer Key Fact Statements for the products clearly explaining the key features of the product and the general terms and conditions.  The customer has the right to question and seek clarification on any matter.
• The right to be able to choose the products and services that best meet their needs. The company would assist the customer to choose the best suited product based on the information provided by the customer.
• The right to privacy and protection of data. Personal information given to the company is kept confidential unless the customer has provided consent for his information to be shared or such information is required to be provided under the law or regulation, or it is provided for a mandated business purpose (for example, to credit information companies). The customers have the right to protection from all kinds of communications, electronic or otherwise, which infringe upon customer privacy.
• The right to be able to complain to the company if they are not satisfied with the products or services offered. The Company has put in place clear and transparent policies and procedures for handling customer complaints and grievances. In accordance with such policies and procedures the complaints would be addressed and resolved in a timely manner.

 

Customer’s Responsibilities

• The customer has the responsibility to provide accurate information to the company when applying for products or services.
• The customer has the responsibility to be honest and fair in all their dealings with the company.
• The customer has the responsibility to read and understand the terms and conditions of loan agreements and Key Facts statements with the company.
• The customer has the responsibility to understand the risk profile and choose the right product or service to suit their financial situation.
• The customer has the responsibility to seek clarifications on any information about the product/ services, key fact statements or any terms & conditions from the company before entering into the contractual agreement.
• The customer has the responsibility to review and understand all the documents before signing them. The signature is an approval and agreement of the document content.
• The customer has the responsibility to comply with the terms and conditions of the products and services provided by the company.
• The customer has the responsibility to make timely payments of instalments for the loan products and services they have availed from the company.
• The responsibility to maintain the confidentiality of their personal and financial information.
• The customer has the responsibility to notify the company of any changes in their personal information that may affect existing terms and conditions.
• The customer has the responsibility to notify any changes to their circumstances that may affect their ability to repay their debts.
• The customer has the responsibility to report any suspected fraud or misconduct to the company.

By understanding their rights and responsibilities, customers can help to ensure that they have a positive experience with the company.