Wed, 17 September
21.1 C
Yerevan
USD: 382.94 RUB: 4.61 EUR: 453.25 GEL: 141.01 GBP: 522.45

Central Bank: 60% of Armenia’s population aware of financial ombudsman, but prefer courts

YEREVAN, May 19. /ARKA/. Armenian citizens are aware of the financial ombudsman’s services in the country, but prefer to assert their rights through the courts, the head of trustees’ board of Armenia’s Ombudsman Office and member of the central bank board Armenak Darbinyan said at the sixth international conference on financial ombudsman’s services in Yerevan on Tuesday.

According to the polls, 57% of the citizens favor the pro-active approach in asserting their rights, but only 37% possess the required knowledge about how to protect their rights, he said.

Some 60% know about the financial ombudsman services available, but still consider the judiciary as the main way to protect their interests, Darbinyan said.

These percentages demonstrate there is progress in the activities and the recognizability of the financial ombudsman office, according to Darbinyan. Yet, a lot remains to be done for better public awareness of the services, he added.

According to the expert, cooperation with the central bank and other financial market participants is important to increase the role of the financial mediator.

The sixth international conference to strengthen the public trust and expand the financial mediation is held in Yerevan on May 19-20. The event is attended by experts and financial mediators from Great Britain, Ireland, Switzerland, Australia and Russia.

The conference is discussing the experience and mechanisms for solving financial disputes, mortgage loan payment guarantees, card forgeries and frauds. The participants will address also customer services strategies and use of modern media in connection with financial mediation.

Armenia was the first former Soviet republic to establish the Office of Financial Ombudsman in 2009. It aims at protecting the rights and interests of bank customers by offering prompt, effective and free consideration of their complaints. Another mission is to increase public confidence in the financial system. –0–

spot_img

POPULAR

3.6% inflation registered in Armenia in August

n the consumer market of Armenia, 12-month inflation in August of this year amounted to 3.6%, according to the report of the National Statistical Committee (NSC) of Armenia.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

LATEST NEWS

spot_imgspot_imgspot_img