Baku, Fineko/abc.az. On December 17, in Baku the World Bank (WB) conducted with the support of the Azerbaijan Central Bank the presentation of plan of actions on project “Protection of rights and financial literacy of financial service consumers in Azerbaijan”, supported by the Switzerland’s State Secretariat for Economic Affairs (SECO).

CBA first Deputy CEO Alim Guliyev said in the event that the plan of measures was prepared on the basis of presented in June diagnostic assessment report “Protection of rights and financial literacy of financial service consumers in Azerbaijan”.

“Activity in two basic directions makes its basis – legislative and supervising regulation, as well as  rise of financial knowledge of the population. The plan oriented to improvement of quality of bank, insurance and fund services that intends coordination between profile state regulators,” A. Guliyev said.

Coordination is carried out by CBA, which created special structural unit and opened "a hot" line for consumers.

“Growth of protection of the consumers’ rights is  especially important in the conditions of financial crisis. Reception by operators of financial services of the strong educated client base should become a result of implementation of plan of actions.

It should be noted that the plan of actions on protection of consumers of financial services, worked out for Azerbaijan, was prepared for the first time for the state which does not enter into the European Union (EU),” A. Guliyev said.

Azerbaijani non-bank credit organizations also join to work on the project. Today primary results of poll, carried out by the Azerbaijan Microfinance Association (AMFA) among 1,200 consumers, were presented.

In June, on the basis of the first survey Susan Rutledge, coordinator for consumer protection & financial literacy programs of WB, said that in prospect Azerbaijan should think about the opportunity to introduce the post of financial ombudsman for operational resolution of disputes.

Report making involved national mail operator Azerpoct (Azerbaijan Postal Company) that has launched rendering financial services quite recently.

17.12.2009 13:06