YEREVAN, January 23. /ARKA/. Armenian financial ombudsmen’s office received a total of 18,310 complaints against financial institutions in a time span from January 24, 2009 to January 16, 2017 and helped citizens to get compensations worth about one billion drams.

According to a press release of the office, the latter considered a total of 5,768 complaints and 72% of them were solved in favor of citizens.

In 2016 alone the office of financial ombudsmen received 4,735 complaints, including 4,118 complaints against financial institutions, by 26% more than in the previous year. It decided to consider 1,523 complaints, by 5.18% more than in 2015 and 72 percent of those complaints were solved in favor of citizens, including 57.37% of the complaints, which were solved through amicable settlements.

The bulk of complaints – 1,243- were against insurance companies, 232 were against banks, 19 were against credit organizations 18- against Car Insurers Bureau and 6- against other organizations.
Some 157 million drams were recovered last year in favor of citizens with the mediation of the financial ombudsmen.

Armenia was the first among former Soviet republics to introduce the Office of Financial Ombudsman in 2009. Its main function is to protect the rights and interests of bank customers, as well as ensure an efficient, effective and free consideration of citizens’ complaints against financial institutions. ($ 1 - 486.33 drams). -0-