Customer’s rights and duties
Arab Bank provides a wide range of financial products and services specially designed to meet your banking needs and expectations. As a valued Arab Bank customer, you should be aware of your rights and duties while requesting a product or service from the Bank.
1. You have the right to take cognizance of the terms, conditions, and details of the product or service, and to request ample explanations to be sure that you have understood them and can abide by them.
2. You have the right to obtain from the concerned employee a clear, ample and simplified explanation about any financial product or service and their respective risk levels.
3. You have the right to obtain from the concerned employee a professional and clear answer to any question concerning any unclear clause or condition.
4. You have the right to request the use of the Arabic language in any document, correspondence or transaction with the Bank.
5. You have the right to read and obtain in advance a copy of each document and text referred to in any contract to be signed with the Bank.
6. You have the right to obtain and retain a copy of any contract or document signed by you with the Bank, without bearing any additional cost.
7. You have the right to ask for the actual cost of any product or service, including the actual insurance cost and the computation method of interest rates on both loans and deposits.
8. In case that obtaining the product or service is subject to submitting an insurance policy to the Bank, you have the right to choose freely an insurance company from a written list of at least five companies that are accepted by the Bank.
9. You have the right to obtain any product or service provided it is suitable with your request, profile and perception of the likely financial risks associated to the product or service.
10. You have the right to obtain, for each product or service, a periodic detailed statement of account.
11. You have the right to refuse to sign a blank or incomplete form and to make sure that all the required fields and figures in the form are correct and complete before signing it.
12. You have the right to submit a claim about any product or service, and to request an explanation from the Bank on the claim submission procedure, the time limit needed to be notified of the outcome, and the mechanism to escalate the claim to other authorities if you are not convinced of the outcome.
1. You have to provide true, complete and accurate information when filling out any form provided by the Bank and refrain from providing any false information.
2. You have to disclose all financial obligations when applying for a product or service, without prejudice to the rights conferred to customers by the Banking Secrecy Law.
3. You have to update the personal information submitted to the Bank, on a continuous basis and whenever required to do so.
4. You have to comply with the terms and conditions governing the chosen product or service.
5. You have to promptly notify the Bank of any unknown operation on your account.
6. You have to provide the Bank with your home address, work address, email, ordinary mail, and telephone number, and report any change in your contact details to enable the Bank to contact you personally and thus guarantee the privacy of information.
Instructions to the Customer
1. Do not provide any other party, under any circumstances, with any detail about your Bank account or any other critical banking or personal information.
2. Whenever facing financial difficulties preventing you from meeting your obligations or paying your installments on due date, you have to refer to the Bank in order to determine the best alternatives.
3. Be careful when granting a proxy to a third party to conduct your banking and financial transactions, by clearly determining the powers delegated under this proxy.
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