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Piruz Sargsyan: Financial Ombudsman's Institute Strengthens Its Posi

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  • Piruz Sargsyan: Financial Ombudsman's Institute Strengthens Its Posi

    PIRUZ SARGSYAN: FINANCIAL OMBUDSMAN'S INSTITUTE STRENGTHENS ITS POSITIONS

    PanARMENIAN.Net
    April 8, 2010 - 13:28 AMT 08:28 GMT

    The institute of Financial Ombudsman of Armenia has managed to
    strengthen its positions during the first year of its activity and
    its further steps will be aimed at its development, according to
    Financial Ombudsman Piruz Sargsyan.

    "The conference aimed at strengthening public confidence and increasing
    financial intermediation through the Institute of Financial Ombudsman
    will provide Armenia's financial organizations with the opportunity
    to compare the young Armenian institute with leading world institutes
    of financial ombudsmen," she said.

    Ms. Sargsyan also noted that all their further steps will be aimed
    at increasing consumers' awareness, so that they obtain knowledge of
    their financial rights and of the acyivity of the Financial Ombudsman's
    institute, which is always able to protect their rights and interests
    at a proper level.

    "We will resume our visits to regions of Armenia soon. In 2009, we
    were in four northern regions of the country, while this year we are
    going to visit the southern regions to conduct large-scale seminars
    and meetings both with representatives of financial structures and
    with consumers," she said.

    Summarizing the results of the first year activity of the Financial
    Ombudsman's office, she noted that basically complaints were
    addressed to the banking system, followed by complaints against
    insurance companies with respect to property and life insurance,
    while credit organizations and pawnshops are on the third place by
    the number of complaints.

    "Last year 400 complaints were received, out of which 57 were
    considered and 61% of them at the amount of AMD 26mln were solved in
    favor of consumers," Ms. Sargsyan said.
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