• Grievance Information
• Grievance Investigation
• Grievance Record
• Grievance Deciding

Who Is the Competent Entity of Receiving Petitions About the Money Markets Authority?

The complaints and grievances committee is competent – Of the Money markets authority – by receiving grievances submitted from the concerned persons against the decisions issued by the authority, according to the Money markets authority establishment and security regulations law and its executive regulation, and their executive decisions.

The grievance against the Money markets authority decisions should be in front of the committee during fifteen days from the date of announcing the concerned persons by the decision, or its publishment in the official newspaper or the authority website, or proof of their knowledge with certainty. Nevertheless, without infringement of the concerned persons’ right to directly challenge the decisions issued by the authority in front of the competent court, during sixty days from the date of their announcement by the decision, or publishing it in the official newspaper or the authority website.

Information of Grievance Against Decisions of the Money Markets Authority

The grievance is to be submitted writtenly according to the special form prepared for this purpose by the Money markets authority, it should contain the following information:

• The plaintiff’s name, his profession, his address, including the data of: The civil or national identity number, phone, fax and Email.
• The plaintiff’s decision number, date of its issuance, date of announcing the plaintiff, or his knowledge about it.
• The grievance subject and his justifications, accompanied by supported documents, or their confident knowledge about it.

Recording Grievances

The authority maintains a special record writtenly within grievances that are submitted by interested persons, these grievances are written down in this record – by a serial number – same day received, and the plaintiff is delivered a copy of his appeal with proven registration number and date affixed to it.

Investigating Grievance Against Decisions of the Money Markets Authority

The grievance is represented – as just received – on the chairman of the complaints and grievances committee, who determines a date for consideration, announcing the plaintiff by this date for attending personally, by his attorney, or by his representative in front of the committee, and the committee has the right to require the concerned persons whatever it asks of clarifications and documents. The committee secretary should announce the executive manager of the authority by the grievance as just received, and the committee is allowed to inquire of such of the authority administrations to edit a warrant of its point of view about the grievance.

Deciding Grievance Against Decisions of the Money Markets Authority

The complaints and grievances committee decides the grievance by accepting or rejecting it during sixty days of submitting it. Not replying the grievance through sixty days from submitting date is considered as its rejection, without violating the extension of this date in the case of the committee direction to a positive approach towards accepting the system.

Whether the committee of complaints and grievances decided to reject the grievance, it is allowed to the plaintiff to challenge the authority decision appealed in front of the competent court during sixty days from the date of his announcement by rejecting grievance, or publishment of rejection on the authority website, or proof of confident knowledge about it. If the committee settled on recommendation of accepting grievance, this recommendation should be referred to the executive manager of the authority to represent it on the board to take a final decision about accepting grievance or rejecting it.

The concerned person, and the executive manager of the authority are announced by the decision of the complaints and grievances committee about deciding the grievance, also, its justifications in case of deciding rejection.

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