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Customer Services

Customer Dispute Resolution Scheme

  • Last Updated 11 Jan, 2021
  • Service Type : E-Service
  • Service Mode : Hybrid (Online and Offline)
  • Service Provider : Qatar Financial Centre Regulatory Authority
  • Service Classification : G2C, G2B
  • Topic : Business and Finance, Housing
Intended Audience
Visitor:Business Owner
Citizen:Business Owner

Description

This free-of-charge service, provided by Qatar Financial Centre Regulatory Authority (QFCRA), offers a fair and independent dispute resolution mechanism between clients and companies authorized to operate at Qatar Financial Centre (QFC), through the Customer Dispute Resolution Scheme (CDRS).

CDRS covers financial services such as financial planning and advice, investments, general insurance, life insurance, banking, collective funds and trustee services.

The maximum compensation that can be awarded by CDRS if a complaint is upheld is QR 400,000.

CDRS is a process you should only resort to after you’ve tried to resolve a dispute directly with one of QFC authorized firms that provided the financial product or service (including insurance or investments) you’re unhappy with.

CDRS is a simple and quick alternative to going to court. You don’t need to obtain legal advice when you make a complaint, unless you want to. If you choose to use a lawyer or adviser, you will need to pay for their services yourself.

To submit a complaint, you should raise it directly to the company that provided the product or service, and request a dispute resolution through the company’s internal dispute resolution mechanism. If you are not satisfied with the company's response, you can complain to the CDRS within four months after receiving the firm's final response, through sending an email on complaints@cdrs.org.qa, or submitting the CDRS e-form explained below.

Online Instructions

  • Fill out the online application form, by entering your personal information and the complaint details
  • Attach all the documents that support your complaint.
  • Click on “Submit”.

Additional Information

  • QFCRA administers the CDRS, but all decisions are made by an Independent Adjudicator. This person is separate to and independent from the Regulatory Authority.
  • In case you couldn’t reach an agreement with the company, you can refer the case to the Independent Adjudicator for a decision.
  • CDRS decisions are binding on QFC authorized firms, if the customer accepts them. When the Independent Adjudicator gives a decision, the customer has 14 days to decide if they accept the decision. If the customer does not make a decision within 14 days, then it is assumed that they have rejected the decision. A rejected decision has no effect. When the customer accepts a decision, it is binding and cannot be appealed by either party.
  • You can check CDRS page for further information.

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