Tue, 28 October
10.1 C
Yerevan
USD: 382.70 RUB: 4.81 EUR: 445.50 GEL: 140.80 GBP: 510.64

Armenian office of financial ombudsmen helps recover about one billion drams in favor of citizens

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-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

The UAE instead of Europe : why Armenia needs to change its approach to crypto regulation – EXCLUSIVE

The Armenian Forum on Cryptocurrency Assets, organized by the Cilicia Business Club, was recently conducted in Yerevan.

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.

Moody’s upgrades Converse Bank’s ratings

Moody's Ratings has upgraded Converse Bank CJSC's long-term local and foreign currency bank deposit ratings to Ba3 from B1, aligning the Bank’s rating with Armenia’s sovereign rating.

“We want the word ‘investor’ in Armenia to mean normality, not elitism” – Freedom Broker Armenia

ARKA news agency spoke with Freedom Broker Armenia Director Ovak Ovakimian about the transformation of investment thinking, company strategy and trust as an economic value.

LATEST NEWS

spot_imgspot_imgspot_img