Public confidence should safeguard effectiveness of financial ombudsman office’s activity

09.04.2010 11:52
Public confidence should safeguard effectiveness of financial ombudsman office’s activity

YEREVAN, April 9. /ARKA/. Enhancement of public awareness and confidence should safeguard effectiveness of Financial Ombudsman Office’s activity, France’s Insurance Ombudsman Francis Frizon told ARKA News Agency’s correspondent.

Speaking Thursday at a conference on financial ombudsman institution, stressed the importance of individual clients, but said that financial organizations are more important.

If they don’t trust, the structure can’t accomplish.

Frizon said he was impressed by the job done by Armenian financial ombudsman office, which handled 400 complaints within a very short period of time.

David Thomas, British financial ombudsman service corporate director, who spoke at the conference as well, said financial ombudsmen should be independent and accessible.

Armenian financial ombudsman office established on January 24, 2009, was the first financial ombudsman institution in the Commonwealth of Independent States.

The office provides free services.

In 2009, the Armenian financial ombudsman compensated AMD 26 million to its clients. The financial ombudsman office received 400 complaints that year.

The office considered 57 complaints, of which 61% were decided in favor of clients. ($1 = AMD 401.20).  --0--


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