QCB issues new rules to improve banking access for elderly and disabled
Doha
In a landmark move to promote financial inclusion, the Qatar Central Bank (QCB) has issued a comprehensive circular mandating all banks and financial institutions in the country to improve access to financial services for the elderly and individuals with disabilities.
This initiative aligns with the Third Financial Sector Strategy and Qatar's Environmental, Social, and Governance (ESG) & Sustainability Strategy for the Financial Sector, reflecting the country's commitment to building an inclusive and accessible financial environment.
The new guidelines focus on two key customer groups: elderly clients and individuals with disabilities who are capable of making their own financial decisions. Banks are now required to make structural and service-related modifications to ensure that these groups can access and benefit from banking services independently and with dignity.
Under the new regulations, all bank branches and ATM locations must be physically accessible. This includes the installation of ramps, electronic doors, and tactile floor signage to support customers with mobility or visual impairments.
Furthermore, the targeted customer groups must be given priority when conducting transactions within bank premises, ensuring they are not subjected to long wait times or unnecessary procedural delays. Privacy during banking transactions must be strictly maintained, particularly for customers with disabilities.
To bridge communication gaps, the QCB has instructed banks to train a segment of their customer service personnel in basic sign language. Where this is not feasible, institutions are expected to offer virtual interpreter services to assist customers with hearingimpairments.
Educational initiatives must also be undertaken to inform these vulnerable groups, especially the elderly, about the risks of over-indebtedness, thereby enabling them to make informed and responsible financial decisions.
A key feature of the directive is the requirement that at least 15 percent of all ATM machines be equipped with Braille and audio headset facilities. These machines must be clearly marked with symbols indicating which types of disabilities they support. Banks are also responsible for guiding customers with disabilities to the nearest accessible branches or ATM facilities to ensure smooth and uninterrupted access to essential banking services.
The Central Bank's instructions also place strong emphasis on protecting elderly clients from financial exploitation. Bank employees will receive training to recognize and respond appropriately to signs of financial abuse. Institutions must take proactive steps by meeting with elderly customers to confirm the details of financial arrangements, particularly those involving powers of attorney, and ensure that these clients fully understand the legal implications.
Elderly individuals must also be encouraged to seek independent legal or financial advice before authorizing another person to manage their financial affairs.
To ensure uniform implementation, QCB has given all banks and financial institutions operating in Qatar a period of five months to comply with the new set of regulations. This move by Qatar's apex banking authority is a significant step toward fostering a more inclusive, equitable, and supportive financial landscape—one that acknowledges and accommodates the diverse needs of its citizens.
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Tribune News Network Doha In a landmark move to promote financial inclusion, the Qatar Central Bank (QCB) has issued a comprehensive circular mandating all banks and financial institutions in the country to improve access to financial services for the elderly and individuals with disabilities. This initiative aligns with the Third Financial Sector Strategy and Qatar's Environmental, Social, and Governance (ESG) & Sustainability Strategy for the Financial Sector, reflecting the country's commitment to building an inclusive and accessible financial environment. The new guidelines focus on two key customer groups: elderly clients and individuals with disabilities who are capable of making their own financial decisions. Banks are now required to make structural and service-related modifications to ensure that these groups can access and benefit from banking services independently and with dignity. Under the new regulations, all bank branches and ATM locations must be physically accessible. This includes the installation of ramps, electronic doors, and tactile floor signage to support customers with mobility or visual impairments. Furthermore, the targeted customer groups must be given priority when conducting transactions within bank premises, ensuring they are not subjected to long wait times or unnecessary procedural delays. Privacy during banking transactions must be strictly maintained, particularly for customers with disabilities. To bridge communication gaps, the QCB has instructed banks to train a segment of their customer service personnel in basic sign language. Where this is not feasible, institutions are expected to offer virtual interpreter services to assist customers with hearingimpairments. Educational initiatives must also be undertaken to inform these vulnerable groups, especially the elderly, about the risks of over-indebtedness, thereby enabling them to make informed and responsible financial decisions. A key feature of the directive is the requirement that at least 15 percent of all ATM machines be equipped with Braille and audio headset facilities. These machines must be clearly marked with symbols indicating which types of disabilities they support. Banks are also responsible for guiding customers with disabilities to the nearest accessible branches or ATM facilities to ensure smooth and uninterrupted access to essential banking services. The Central Bank's instructions also place strong emphasis on protecting elderly clients from financial exploitation. Bank employees will receive training to recognize and respond appropriately to signs of financial abuse. Institutions must take proactive steps by meeting with elderly customers to confirm the details of financial arrangements, particularly those involving powers of attorney, and ensure that these clients fully understand the legal implications. Elderly individuals must also be encouraged to seek independent legal or financial advice before authorizing another person to manage their financial affairs. To ensure uniform implementation, QCB has given all banks and financial institutions operating in Qatar a period of five months to comply with the new set of regulations. This move by Qatar's apex banking authority is a significant step toward fostering a more inclusive, equitable, and supportive financial landscape—one that acknowledges and accommodates the diverse needs of its citizens.
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