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Tue 14 Jun 2016 11:22 AM

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Complaints against banks in Bahrain rise 35%

Customers said to be unhappy with high interest charges on loans and fake currencies

Complaints against banks in Bahrain rise 35%

Customer complaints against banks in Bahrain have risen 35 percent in three years.

In 2016, The Central Bank of Bahrain has witnessed an average of 31 complaints per month, compared with 26 and 23 in 2014 and 2013 respectively.

Customers complained mostly of higher-than-expected interest charges on loans and loan application rejections despite fulfilled payment of administrative and insurance fees, revealed CBB’s Compliance Directorate, it was reported.

About 40 percent of the complaints recorded in May were against two banks, though it reported that 77 percent of all complains from the same month had been resolved.

Other customers protested against fake currencies being given to them by a money exchange company while some complained of loan repayments, saying they were paying over half of their salaries for the settlements.

Customers also complained about card fees being deducted from their accounts without their knowledge, said the report.

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