YEREVAN, May 8. /ARKA/. Armenian financial ombudsman’s office received 850 complaints over the first quarter of this year, and this is 91.44% more than it received over the same quarter a year earlier, the office reports in its 1st Q report.

The number of complaints admitted to consideration rose as well – it doubled to 320.
According to the report, the number of complaints against insurance companies was greatest – 593 (33.5% year-on-year growth).

The number of considered complaints against insurance companies was biggest as well – 266, of which 199 related to obligatory car insurance.

Some 218 complaints were submitted against banks, four against pawn houses, 19 against credit organizations, 10 against car insurers, four against organizations operating money transfers and two against investment companies.

Financial ombudsman institution started functioning in Armenia on January 24, 2009. In 2009, thanks to the office’s interference, complainants had AMD 26 million drams of their losses compensated.

The financial ombudsman’s office has received 5,276 complaints over five years of its activity, and about AMD 420 million has been paid to complainants as compensation.
The aim of the institution is to defend rights and interests of banks’ clients and to enhance public confidence in the country’s financial system. ($1 – AMD 413.19). -0---