Central Bank’s new Complaint Management System for Financial Consumers

The Central Bank of Sri Lanka (CB) on Friday launched an online Complaint Management System (CMS) marking a significant step to facilitate the submission of complaints and grievances by financial consumers relating to Financial Service Providers (FSPs) regulated by the CB.

The CMS has been introduced with the aim of enhancing accountability, efficiency, and transparency in the complaint handling process within the regulatory framework of the CB. The system enables financial consumers to submit complaints and grievances in a structured and standardised format, supporting more effective regulatory oversight and timely resolution, the banking regulator said in a media release.

The platform streamlines complaint management processes by reducing reliance on printed documentation and minimising processing delays. It is accessible 24/7 allowing financial consumers to lodge their complaints at their convenience. In addition, users can track the status and progress of their complaints, ensuring greater visibility throughout the resolution process.

Financial consumers are required, in the first instance, to submit their complaints or grievances directly to the relevant FSP. Complaints may be escalated to the CB via the CMS only where such matters remain unresolved or where the response provided by the FSP is deemed unsatisfactory.

Users are advised to ensure that all submissions are clear, accurate, and complete, and that all relevant supporting documentation is provided to facilitate efficient processing.

The CMS can be accessed at: https://reachus.cbsl.lk/ where detailed guidance on submission procedures is available.