Ongoing work to protect financial interests of Belarusians explained

MINSK, 19 April (BelTA) – Raising social standards and the level of protection of the population in the financial sector is an important area of the central bank's work. Chairman of the Board of the National Bank of the Republic of Belarus (NBRB) Pavel Kallaur made the statement during a joint session of the House of Representatives and the Council of the Republic of the National Assembly of Belarus on 19 April, BelTA has learned.

Pavel Kallaur said: “As part of the work measures have been implemented to improve the system of protection of consumers of financial services, encourage financial institutions to do business with social responsibility in mind, increase the cyber security of consumers of financial services, counteract unfair practices, and raise the financial literacy of the population.”

The official stressed that the central bank together with government agencies had been working on a bill on amending the laws regulating the protection of consumer rights. “The bill contains innovations in the area of state protection of rights of consumers of financial services, including the legal grounds for the operation of an alternative body for resolving disputes between consumers and financial service performers. Interaction with associations of financial market participants and public associations of consumers has been systemic,” Pavel Kallaur remarked.

“Work continues with the financial sector on matters concerning the handling of consumer complaints, including the introduction of basic standards for detecting and internal resolution of disputes into the operation of financial organizations,” Pavel Kallaur said.