Piruz Sargsyan: Financial Ombudsman's institute strengthens its positions

PanARMENIAN.Net - The institute of Financial Ombudsman of Armenia has managed to strengthen its positions during the first year of its activity and its further steps will be aimed at its development, according to Financial Ombudsman Piruz Sargsyan.

“The conference aimed at strengthening public confidence and increasing financial intermediation through the Institute of Financial Ombudsman will provide Armenia's financial organizations with the opportunity to compare the young Armenian institute with leading world institutes of financial ombudsmen,” she said.

Ms. Sargsyan also noted that all their further steps will be aimed at increasing consumers' awareness, so that they obtain knowledge of their financial rights and of the acyivity of the Financial Ombudsman's institute, which is always able to protect their rights and interests at a proper level.

“We will resume our visits to regions of Armenia soon. In 2009, we were in four northern regions of the country, while this year we are going to visit the southern regions to conduct large-scale seminars and meetings both with representatives of financial structures and with consumers,” she said.

Summarizing the results of the first year activity of the Financial Ombudsman's office, she noted that basically complaints were addressed to the banking system, followed by complaints against insurance companies with respect to property and life insurance, while credit organizations and pawnshops are on the third place by the number of complaints.

“Last year 400 complaints were received, out of which 57 were considered and 61% of them at the amount of AMD 26mln were solved in favor of consumers,” Ms. Sargsyan said.