Here is the rewritten article in Markdown format:

Banking Principles to Ensure Transparency and Customer Satisfaction

=====================================================

In a move to enhance transparency and customer satisfaction, the banking industry has adopted a set of principles aimed at providing clarity on various aspects of banking services.

Key Principles

• Provide customers with general descriptive information on how funds may be withdrawn from joint accounts.
• Inform cardholders of their liability for using debit cards and the means by which a card can be cancelled or stopped.
• Limit guarantees and indemnities obtained from third parties to a specific amount, plus other liabilities such as interest and recovery costs.
• Ensure that promotional materials are not deceptive or misleading, and include information on any standard fees and charges that may apply.
• Provide customers with full details of the relevant terms and conditions upon request.

Advertising

• Promotional materials must not be deceptive or misleading.
• Include information on any standard fees and charges that may apply.
• Provide customers with full details of the relevant terms and conditions upon request.

Account Closure

• Banks may close an account in credit by giving notice to the customer and making available the amount of the credit balance.

Debt Collection

• Inform the customer of the procedure for debt collection in cases where a customer defaults on repayment.
• Exercise the right to foreclosure on a property held as collateral for a loan by informing the customer in writing.

Customer Records

• Maintain accurate and up-to-date records for each customer, including:
  • Contact details
  • Correspondence
  • Documents signed by the customer

Dispute Resolution

• Have an internal process for handling disputes.
• Provide customers with information on the outcome within a maximum period of two months from the date of receipt of the written complaint.

Conclusion

The adoption of these principles is expected to enhance transparency and customer satisfaction in the banking industry. The principles will be binding on banks that publicly announce their adoption, effective from the date of announcement.

Source: Guyana Banking Industry Principles