Consumer Protection at Bank Alfalah

The Bank’s management is committed towards creating a culture of fairness in customer dealing and has developed a Consumer Protection Framework, which is a reflection of this commitment, and clearly states the protocols that needs to be followed to ensure the Fair Treatment of Customers (FTC).

Our FTC Vision:

To provide our customer quality and innovative range of banking products without discrimination, throughout the product life cycle, from product design and promotion, through advice and servicing, to complaints and claims handling, throughout the product value chain.

The Consumer Protection framework is a basic model, which identifies what leads to adequate levels of satisfaction and protection for our customers, characterizing the relationship between consumers and the bank. The main aim of the framework is to ensure that the FTC principle is embedded in the bank’s culture.

We aim to deliver on our consumer protection mandate with a positive, customer-focused approach, where customers’ best interests are protected and we are fully compliant with our obligations and treat both existing and new customers in a fair and transparent way.

Consumer Protection Objectives

• To protect the interests of our customers at each stage of the product life cycle.
• To ensure that promotional material is clear, simple and appropriately designed for the intended consumer group.
• To ensure that sales staff has thorough training on all products they advise on or sell, understanding customer needs.
• To keep detailed and secured records of customer information and instructions.
• To ensure that customer complaints are assessed fairly, promptly and impartially, and in line with Regulator’s guidelines.
• To ensure that FTC (Fair Treatment of Customers) values are understood and practiced by all staff across the bank.
• Financial Consumer Protection is an organizational effort with well-defined roles and responsibilities The bank will monitor the fair treatment of customers at all stages of the relationship.