As required by the new Consumer Data Right legislation, this Consumer Data Right (CDR) Policy explains how you can seek access and correction of CDR Data that we hold about you, as well as how you can make a complaint about how we handle your CDR Data. You can find detailed guidance on how to share your data in the user guide here CDR User Guide - 2023.
Arab Bank Australia (the Bank) has fully complied with the ACCC’s Consumer Data Rights provisions for product disclosure, sharing of single and joint accounts, and in respect of non-individuals, nominated representatives, partnerships and secondary users data.
Personal information about you is like your name and address that we use to identify you. This is also like the credit information we use to assess your application for a loan. Wherever possible we will collect personal information directly from you. This information will generally come from what you provide in your application for one of our products or services and supporting documentation, or from third parties such as credit providers and third party service providers such as credit reporting bodies.
We may use your personal information (including credit related information) for the purpose of providing products and services to you and managing our business.
We may disclose your personal information to other organisations under strict confidentiality agreements for the services they provide to us in connection with our services to you, to other government and regulatory authorities if required by law, or to your representative(s) as authorised by you. For risk management purposes, your personal information (including credit related information) may also be disclosed within the Arab Bank Group to our parent entity Arab Bank plc incorporated in Jordan. An agreement is in place with our parent that it will observe the Australian Privacy Laws.
Under the legislation, you have the right to access your personal information (including credit related information) that we hold about you. You may request that access from anyone handling your banking. If we are unable to give you access to any of your personal information, we will explain why we are unable to do so.
When you apply for credit, we may obtain credit information about you from credit reporting bodies. Credit reporting bodies collect credit information about individuals which they provide as credit reports to credit providers and others in the credit industry to assist them in managing credit risk, collecting debts and other activities. We may disclose to credit reporting bodies, that you are in default under a credit agreement or commit a serious credit infringement, if that is the case. In obtaining a credit report or disclosing credit information about you we must obtain your specific agreement to this. When we refuse an application for consumer credit made by you based on credit information obtained from a credit reporting body, we will give you written notice that the application has been refused on the basis of that information. We will tell you the name and contact details of the relevant credit reporting body and other relevant information.
At times, we may use your personal information or provide your details to other organisations to provide you with information about our products and services which we consider to be of interest to you. We consider that you consent to this, unless you opt out. You may opt out at anytime by contacting anyone handling your banking or by unsubscribing from our email marketing messages.
We take all reasonable steps to ensure that your personal information held on our website or otherwise is protected from interference, misuse and loss. We have security measures and documented procedures to ensure that your personal information is protected from unauthorised access, disclosure or modification.
If you have any questions or complaints about your personal information, or you believe that the privacy of your personal information is not adequately protected, please raise them with anyone handling your banking. For more details, you may like to access our Complaints Handling Procedures.