With the aim of safeguarding the Bank customers and stability of the Banking sector, Central Bank of Sri Lanka has issued a “Customer Charter” for all the licensed banks, which will be effective within six months time.
According to the charter, banks are supposed to provide all factual information to the customers such as description of the services and products, financial services and benefits, terms and conditions with regard to customer-related banking activities, information on all advertisements in any media and promotional materials, display information on interest rates and banking hours and holidays as well.
Charter also protects customers from any harassment, abuse or any such malpractices by the agents appointed by the banks.
Charter has specified certain obligations for customers towards the Banks. Accordingly, customers are required to reveal all relevant information and any changes relating to the customers to the licensed banks, acquire full knowledge and understanding of the product/services offered by Banks before entering into contract, pay due attention to all transactions plus notify the banks of any fraudulent transactions.
– Sinhalaya News