Customer Protection Principles

Al-Shaghaf Al-Raqmi is licensed and supervised by the Saudi Central Bank (SAMA). We are committed to protecting the rights and interests of our customers at every stage of our relationship. In line with the Financial Consumer Protection Principles and Rules issued by SAMA, we adhere to the following principles in all our dealings with you:

1. Equitable and Fair Treatment

We treat our customers equitably, honestly and fairly at all stages of our relationship, so that fair treatment is an integral part of our culture. We exercise due care and give special attention to low-income and less-educated customers, the elderly, and persons with special needs.

2. Disclosure and Transparency

We make sure that information about our products and services is clear, comprehensible, up to date, accurate, not misleading and easy to access — especially key terms and features. This includes the rights and responsibilities of each party, prices, commissions, taxes, exceptions, fines, major risks and benefits, the mechanism and consequences of terminating the relationship, and information about alternative products and services we offer.

3. Education and Awareness

We develop appropriate programs and mechanisms to improve our customers' knowledge and skills, raise their awareness, enable them to understand major risks, and help them make informed decisions — including knowing where to obtain further information when needed.

4. Behavior and Work Ethic

We work in a highly professional manner for the benefit of our customers and consider ourselves primarily responsible for protecting their financial interests. We provide the human resources, service centers and documented communication channels needed to serve our customers across the Kingdom.

5. Protection Against Fraud and Misuse

We protect our customers' assets against fraud and maintain highly efficient and effective technical and control systems to limit and detect fraud, embezzlement or misuse, and we take the necessary action if any incident occurs, in accordance with the relevant regulations and instructions.

6. Protection of Data and Information Privacy

We apply appropriate mechanisms, in line with the applicable regulations and the Personal Data Protection Law, to protect the privacy of our customers' financial, credit and personal information. We maintain high-level control systems that define the purposes for which data is collected and used.

7. Complaints Handling

We provide a clear and effective mechanism for submitting complaints. Every complaint is considered, and we take the measures necessary to resolve it fairly, effectively and without delay, in accordance with the relevant regulations and instructions.

8. Competition

We enable our customers to easily search and compare the best services, products and providers, and we strive to offer the best products, services and prices to meet their needs, promote innovation, and maintain the quality of our services and products.

9. Outsourcing

When we outsource services that involve dealing with customers, we ensure that our service providers comply with these Principles and Rules, serve the interests of customers, and uphold their protection. We remain responsible even if an outsourced provider fails to comply with applicable laws, regulations and instructions.

10. Conflict of Interest

We maintain a documented conflict-of-interest policy and procedures to handle potential or actual conflicts, ensuring that the objectivity and independence of our decisions are not adversely affected and that customers always receive fair treatment.

Questions or Complaints

If you have a question or wish to file a complaint, please contact us through our complaint channels, by email at Complaints@alshghaf.sa, or by phone at +966 800 111 0124 (Sunday–Thursday, 9:00 AM – 5:00 PM). If you are not satisfied with how your complaint is handled, you may escalate it to the Saudi Central Bank through the SAMA Care portal (samacares.sa).