Introduction

Sarwa Digital Wealth (Capital) Limited is regulated by the Financial Services Regulatory Authority (“FSRA”) in the Abu Dhabi Global Markets (“ADGM”) and holds a Category 3C license with a Retail Client and Holding and Controlling Client’s Investments and Money Endorsement. Sarwa Digital Wealth (Capital) Limited’s registered address is 16-115, WeWork Hub 71, Al Khatem Tower, ADGM Square, Al Maryah Island, Abu Dhabi, United Arab Emirates.

https://www.adgm.com/public-registers/fsra/fsf/sarwa-digital-wealth-capital-limited

Sarwa Digital Wealth Limited is regulated by the Dubai Financial Services Authority (“DFSA”) in the Dubai International Financial Center (“DIFC”) and holds a Category 4 license with a Retail Client and is not authorised to hold client assets or client money. Therefore, the client money rules do not apply to the business currently undertaken by Sarwa Digital Wealth Limited. Sarwa Digital Wealth Limited’s registered address is DIFC Innovation Hub, Unit GA-00-SZ-L1-RT-179, Level 1, Gate Avenue - South Zone, DIFC, Dubai, United Arab Emirates.

https://www.dfsa.ae/public-register/firms/sarwa-digital-wealth-limited

Sarwa Digital Wealth (Capital) Limited and Sarwa Digital Wealth Limited are two separate legal entities but are collectively referred to as “Sarwa”

While handling complaints, Sarwa will consider its obligations under the Data Protection Law 2020, DIFC Law No 1 of 2007, the ADGM Data Protection Regulations 2021 and Financial Services and Markets Regulations 2015.

Interpretation of Terms

Unless the context requires otherwise, all terms included in the Complaints Handling Procedure (“Procedure”) will have the meaning given to them herein. Where the context requires, (a) words importing the singular shall include the plural and vice versa, and (b) words importing the masculine shall include the feminine and vice versa.

Definition of a Complaint

  • A complaint is an expression of dissatisfaction addressed to Sarwa by a Client (“Complainant” or “You” or “Your”) relating to the provision of investment and/ or ancillary services under the Law.
  • A Complainant can be a natural or legal person who is presumed to be eligible to have a complaint considered by the Firm and may have already lodged a complaint.
  • All complaints submitted to Sarwa must include the following:
      1. Your forename and surname
      2. Your account number
      3. The date and time when the issue arose
      4. The date that the issue arose and a description of the issue, and
      5. An accurate description of the issue and any supporting evidence

Complaints must be submitted in English and must not include offensive language directed either to Sarwa or any of its employees.

Principles

  • All complaints will be treated confidentially.
  • The Firm will handle each complaint in a timely and fair manner.
  • The Firm will take all reasonable steps to investigate and respond promptly to any complaints.
  • The Firm will make best endeavours to provide the best service to You.

Complaints Procedure

  • The Procedure sets out the internal complaint resolution process and procedures Sarwa has in place, maintains, and follows to ensure all complaints are investigated and resolved appropriately.  
  • Sarwa’s Procedures represent its’ client-focused approach and commitment to be fair and transparent and are designed to ensure that any significant expression of dissatisfaction, whether spoken or written, and whether justified or not, sent from a client to Sarwa is investigated and resolved fairly, consistently, and promptly.
  • All complaints must be in writing and submitted to compliance@sarwa.co and will be recorded in the complaints register. The complaint must outline the expression of dissatisfaction relating to the provision of services. Please note sending an email to compliance@sarwa.co is not to be used for reporting bugs or other issues. Kindly email hello@sarwa.co for any issues, bugs or concerns. The compliance email is only for escalated complaints.
  • Complaints will be handled independently by a person unconnected with the complaint and will have sufficient authority to resolve it or access to someone with sufficient authority (the default handler will be the Compliance Officer with the assistance of Customer Support).
  • Sarwa will not be able to investigate a complaint if the requirements specified have not been fulfilled, and in such instances, we will request the missing and/or additional information from the complainant.
  • An employee of Sarwa may contact You directly in order to obtain further clarifications and information relating to the complaint. Employees who receive a complaint, either in writing, will promptly forward it directly to the Compliance Officer and Customer Service team for their records. 
  • Complaints received via the email designated for logging a complaint are initially received by the Compliance Officer and the Customer Service team.  The Customer Service team will acknowledge receipt of the complaint and send it to the Compliance Officer.
  • All data related to complaints are stored in an internal system for a period of six (6) years) and recorded within an internal register.
  • In the event a complaint is made verbally, You will be requested to submit the complaint in writing. 
  • Employees will not privately negotiate the settlement of any complaint.
  • Sarwa will make best efforts to resolve complaints in a quick and effective manner.
  • Sarwa will treat each complaint with due care and ensure a fair outcome is reached.

Complaints Procedure Timeline

Once a complaint has been received, a response will be provided within seven (7) working days of acknowledgement of safe receipt of the complaint, along with a unique reference number. The following information will be enclosed within the acknowledgement:

  1. The contact details of any individual(s) or departments responsible for handling the complaint
  2. Key particulars of the complaints handling procedures and
  3. A statement that a copy of the procedures is available free of charge upon request and considers the subject matter of the complaint.

A response letter will be sent within the thirty (30) day period, explaining how the complaint will be resolved or if more time is required to investigate the complaint. If additional time is required to investigate the complaint, a holding response will be sent, making clear that the matter is still under investigation, and an update with respect to the complaint will be made within sixty (60) days from the date of receipt of submission.

If the complaint cannot be resolved within sixty (60) days from the date of receipt of submission, a response letter will be sent within the sixty (60) day period, explaining more time is required to investigate the complaint, a holding response will be sent, making clear that the matter is still under investigation and an update in respect to the complaint will be made within ninety (90) days from the date of receipt of submission.

All complaints will be resolved within ninety (90) days from the date of receipt of submission

Once a conclusion has been reached from the investigation (30 days, 60 days, or 90 days), the following notification will be proved:

  1. The outcome of the investigation, along with the reasons for reaching such a decision, will be provided in writing.
  2. Sarwa will provide clear terms of redress, if applicable; and
  3. The terms of redress if accepted. (Any terms of redress will be valid for seven (7) days from the date the terms have been offered).

Upon conclusion of the investigation, Sarwa will provide a resolution in writing as soon as possible and, at the very least, within the timeframe communicated. In coordination with the Compliance Officer and depending on the severance, the Customer Service team will send responses.

You reserve the right to take any legal action; such a right remains unaffected by the existence and/or use of any complaint procedures referred to above.

Throughout the complaints process, the unique reference number must be quoted on all correspondences with the Firm

External Dispute Resolution

If You are not satisfied with the final response or final decision (including the offer of any compensation), then You can take other steps which may warrant further action.

Other steps You can take include an external dispute resolution scheme, arbitration or the DIFC court. Also, note that additional provisions may apply.

If a complaint is resolved in favour of the Complainant, Sarwa will promptly ensure a full and appropriate level of redress is offered without any delay.

When submitting a complaint to either Sarwa, the DFSA, ADGM or to an external dispute resolution scheme, arbitration or the DIFC or ADGM court, the unique complaint number must be provided to all correspondences; this number can be found on the official acknowledgement and/ or response email/letter.

You should attach any documents you have received or which may be relevant to your complaint. If you have written about the subject of your complaint previously, please attach a copy of your communication as well as any response you have received from Sarwa.

The DFSA/FSRA will only consider complaints submitted in writing.

DIFC/DFSA Clients Only

To submit a complaint to the DFSA, You can:

  1. Complete the online Complaints Form (https://dfsa.ae/Consumer/Complaints)
  2. Submit your written complaint to the DFSA via post to the DFSA, Level 13, The Gate, PO Box 75850, Dubai, UAE.
  3. Via facsimile +971 (0)4 362 0801, or
  4. Via e-mail: complaints@dfsa.ae

ADGM/FSRA Clients Only

To submit a complaint to the ADGM, You can submit the complaint via the following link:

https://www.adgm.com/operating-in-adgm/additional-obligations-of-financial-services-entities/enforcement/complaints/submit-a-complaint

Record Keeping

The following information is recorded in the complaints register (for a period of 6 years):

  1. Date of the complaint.
  2. Account number.
  3. Unique Reference Number.
  4. Identification of the complainant.
  5. Complaint cause.
  6. Substance of the complaint.
  7. The financial instrument.
  8. The disputed amount.
  9. Company’s responses.
  10. Relevant correspondence.
  11. Actions are taken by Sarwa to resolve each complaint.
  12. Settlement date, if applicable, and
  13. Any comments thereof.
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