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1. Introduction and objectives of the Charter

National Finance Company SAOG (the Company or NFC) is an Omani joint stock companyregistered under the Commercial Companies Law of the Sultanate of Oman and is listedon the Muscat Securities Market. The principal activity of the Company is leasing business.The Company derives all of its income from financing operations, factoring and workingcapital funding within the Sultanate of Oman.The mission of the Company is to deliver the right financial solutions on time, exceededits customer expectations through partnership and continuous improvement, andprovide an inspiring workplace for hard-working and dedicated people who believe in theCompany.We, at National Finance Company, promote and encourage a customer-centric culturethat places customer satisfaction above all else. Being congnizant of the importance ofconsumer trust and confidence for the financial soundness and resilience of individualfinancial institutions and the stability of the financial system as a whole, we arecommitted to providing high-quality services to our current and prospective customers inaccordance with the regulatory requirements and international best practices. We havedeveloped this Charter to promote fair, transparent, and ethical practices, as well as toinform consumers of their options and remedies in case of disputes or complaints. TheCharter is a complement to the Company’s Consumer Protection Framework and theCustomer Service Policy and is expected to contribute to the overall financial well-beingof its consumers.The Charter has been built around the following principles given in the FinancialConsumer Protection Regulatory Framework issued by the Central Bank of Oman:

  1. Fair treatment and responsible business conduct
  2. Disclosure and transparency
  3. Protection of consumer data and privacy
  4. Complaints handling and redress
  5. Financial education and financial capability

The Charter is an evolving document and will be revised whenever the regulatory andbusiness environment changes. This Charter is not a legally binding document; it merelyoutlines the service commitment of the Company to its customers.

2. Consumer Rights

As a customer of National Finance Company, you have the following rights:

i) Right to fair treatmentYou have the right to be treated fairly, justly and honestly at all stages of your relationshipwith the Company without any discrimination based on race, colour, gender, age, etc.However, the Company may have certain products and schemes designed for specifictarget market group, which do not amount to any unfair discrimination. Treating allcustomers fairly and honestly is an integral part of the governance and corporate cultureof the Company. The Company staff will attend all the customers with courtesy, honesty,professionalism, and respect and pay special attention to the consumers who may beexperiencing vulnerability such as elderly, physically disabled or customers with lowfinancial literacy.

ii) Right to transparency, fair and honest dealingYou have the right to be provided with complete, clear, accurate, and timely informationon the material aspects of the financial products and services offered by the Company aswell as the terms and conditions, fees and charges, fundamental benefits and risks, andany other relevant information that may affect your decision or experience. The Companywill ensure that this information is easily accessible, simple to understand, not misleadingand include the rights and responsibilities of each party, including the mechanism foreither party to end the business relationship. The Company staff will act with integrity,professionalism, and respect in all their dealings with you.

iii) Right to suitabilityYou have the right to be offered products and services that are appropriate to your needs,risk tolerance, financial standing and understanding of the product and service. Thisincludes cross selling done through various channels, such as meetings, phone calls,emails, or text messages. The suitability of the products and services will be assessed bythe Company staff on the basis of the information provided by you.

iv) Right to privacyYou have the right to have your personal and financial information protected from anyunauthorized access, use, or disclosure by the Company. Based on your right, theCompany will keep your personal and financial information confidential unless:

  1. You have authorized such disclosure explicitly in writing.
  2. Disclosure is required under the laws and as instructed by the Central Bank ofOman.In any case, the Company shall inform you promptly of such disclosure.

v) Right to grievance redress and compensationYou have the right to have any grievances resolved in a fair, timely, and effective manner,and to receive appropriate remedy or compensation where warranted from theCompany. The Company has put in place clear and transparent policies and proceduresfor handling customer complaints and grievances. In accordance with such policies andprocedures, you have the right to:

  1. Access internal complaint handling mechanism of the Company through a rangeof channels—telephone, email, web, mobile, etc.
  2. Receive prompt acknowledgement and response from the Company.

3. Consumer Responsibilities

i) Provide complete and accurate information

  1. Always give full and accurate information when you are filling in any documents tobe given to the Company. Do not give false details or leave out importantinformation.
  2. You should update your personal information, including contact information, sothat it is updated continuously and also when so requested by the Company.

ii) Carefully read and review all information and documents

  1. When you submit your application, you should receive full details on theobligations for your service or product. Make sure you have access to the detailsof your obligations that you understand them and that you can comply with them.
  2. It is important to ask questions to the Company staff about anything that is unclearor a condition that you are unsure about. The staff will answer any questions in aprofessional manner to help you in your decision making.
  3. Review all of your documents before you sign them to ensure that they arecomplete and free of any error. Your signature is an approval and agreement ofthe document content.
  4. Make sure all of the required fields and numbers are completed in a form ordocument that is presented to you for signing or initialling. Do not sign empty orpartially completed forms or documents.

iii) Act responsibly and prudently

  1. When making a request for a product or service, you should make sure that it suitsyour needs. You should disclose all financial obligations with all parties to ensurethe decision is based on your ability to meet you additional obligations aftercontracting for the product or service.
  2. Do not purchase a product or service where you feel that the risks do not suit yourfinancial situation. You should ask the Company staff to explain the risks inherentin the financial products or services you want to avail.
  3. Do not use the product or service, except in accordance with the terms andconditions associated with them, and after making sure of your completeunderstanding.
  4. Do not avail financing facilities beyond your repayment capacity.
  5. Ensure the repayments of your financing facilities on time.
  6. Let the Company know as soon as possible if you are facing financial difficulties inthe repayment of your financing facilities. By talking to the Company, you candiscuss possible alternative repayment arrangements that will enable you to fullydischarge your responsibilities.

iv) Keep your information confidential

  1. Under no circumstances should you provide your personal or financial informationto any other party.

v) Be aware of your rights and responsibilities as a customer

  1. Be aware of your rights and responsibilities as a customer and seek information,advice, education, or assistance from the Company staff or other sources whenneeded.
  2. You should know how to make a complaint. You can be proactive in using thisservice and knowing how to escalate your issue to higher levels, if appropriate. TheCompany staff will provide you with details on how to complain and the timeframefor the response.

vi) Keep copies of your documents

  1. Keep all copies of signed contracts and other relevant documents and papers in asafe place that are provided to you by the Company.