At Nebras, we are committed to ensuring that all users have access to a transparent and effective process for resolving any issues they may encounter with Open Finance services. Our goal is to provide a fair and impartial resolution to all complaints, ensuring user satisfaction and maintaining trust in the Open Finance ecosystem.
As an individual consumer using the Open Finance platform, if you encounter a dispute related to transactions, fraud, data inaccuracies, or product issues, here's how you should proceed:
Step 1: Contact Your Provider First
Your primary point of contact for any disputes should be the relevant party, i.e. your Third Party (AlTareq) service provider, your bank, your insurance company or your exchange house. These companies are responsible for resolving their customers' disputes internally, following their own procedures where they are at fault and then raising disputes via Nebras if this is required, if the fault lies with another AlTareq participant.
Step 2: Further Action (if dissatisfied)
If you are not satisfied with the outcome of the dispute resolution through your bank, insurance company, exchange house, or Third Party (AlTareq) service provider, you have an additional option:
Step 1: Contact the Financial Service Provider
If you have a complaint regarding a service or transaction, your first step should be to contact the relevant financial service provider directly. This could be either a Licensed Financial Institution (LFI) or a Third-Party Provider (TPP). Most issues can be resolved quickly by reaching out to the provider’s customer service team.
Step 2: Escalate to Sanadak (If you're covered by their services in the UAE)
If your issue is not resolved to your satisfaction by the Licensed Financial Institutions or Third-Party Provider, you can escalate your complaint to Sanadak, an independent entity dedicated to resolving financial disputes fairly and impartially.
Submit a Complaint to Sanadak: Visit Sanadak Complaints
Sanadak will review your complaint, mediate between the involved parties, and provide a resolution based on the evidence provided and relevant regulations. You can follow up on the status of your complaint through the Sanadak portal.
AlTareq places nothing above its security, reliability and the Open Finance regulatory protection afforded to customers. Only providers that are licensed and regulated by the Central Bank of the UAE (CBUAE) can access your data, and only with your explicit, informed consent. AlTareq is built with world-class levels of protection, utilising advanced security tools such as multi-factor authentication and encryption to ensure your information and the financial services you use remain private and secure.
AlTareq uses multiple layers of protection to ensure security:
Yes, the CBUAE Open Finance Regulations establishes a comprehensive framework for licensing, supervision, and operation of AlTareq in the UAE. It outlines the requirements and license conditions for AlTareq Third-Party Providers, ensuring that only regulated organisations can engage in data sharing and service initiation.
Sanadak and the financial service providers will keep you informed throughout the complaint resolution process. You can check the status of your complaint at any time through the following link:
The Service Desk acts as the point of contact for raising and seeking to resolve any disputes that arise as part of the AlTareq initiative (Open Finance).
The processes via the Service Desk is designed to efficiently handle and resolve disputes related to technical performance / functionality, transactions, fraud, data inaccuracies, or product problems.
With your explicit consent, AlTareq allows regulated Third-Party Providers to securely connect to Licensed Financial Institutions. The connection is made through an Application Programming Interface (API); this is the same type of connection your mobile phone uses to connect your photos to your social media apps. However, AlTareq utilises the highest-grade of security for the connection. This enables Third-Party Providers to offer enhanced financial products and services tailored to your needs.
You can access AlTareq based services through regulated Third-Party Providers apps or platforms, it is based on giving your consent for data sharing or service initiation, quotes or onboarding.
No, the provider of your financial services does not change when you use AlTareq based services. Your insurance is still from your insurer, payments are still made by your bank, currency conversion is still completed by your exchange house, but you can access these services and their data via third-party applications.
For further assistance or if you need help navigating the complaint process, please contact our support team:
