Action Plan for Strengthening Financial Services Consumer Protection in Azerbaijan

This Action Plan is based on the World Bank’s Technical Note on Consumer Protection and Financial Literacy in Azerbaijan published in June 2009. The Action Plan focuses on the Legal and Regulatory Issues of the Technical Note’s Key Findings and Rec...

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Bibliographic Details
Main Authors:	Prouza, Tomáš, Mundy, Shaun, Izaguirre, Juan C.
Format:	Report
Language:	English en_US
Published:	World Bank, Washington, DC 2017
Subjects:	ACTION PLAN ADMINISTRATIVE COSTS ADVERTISEMENTS ADVERTISING ARBITRAGE AWARENESS CAMPAIGN BANK ACCOUNTS BANK CREDIT BANKING INDUSTRY BANKING SECTOR BANKS BEST PRACTICE BREACH OF TRUST BROCHURE BROKERS BUSINESS DECISION BUSINESS PRACTICE BUSINESS PRACTICES CALCULATIONS CAPABILITIES CAPABILITY CAPACITY BUILDING CAPITAL MARKETS CAR INSURANCE CENTRAL BANK CIVIL CODE CODE OF CONDUCT CODES OF CONDUCT COLLATERAL COMMUNICATION STRATEGY CONFLICTS OF INTEREST CONSUMER COMPLAINTS CONSUMER CREDIT CONSUMER GOODS CONSUMER GROUPS CONSUMER ORGANIZATIONS CONSUMER PROTECTION CONSUMER PROTECTION REGULATION CONSUMER RIGHTS CONSUMERS CONSUMERS ASSOCIATIONS CREDIT BUREAU CREDIT BUREAUS CREDIT CONTRACT CREDIT HISTORY CREDIT INSTITUTIONS CREDIT MARKETS CREDIT PRODUCTS CREDIT PROVIDER CREDIT PROVIDERS CREDIT REPORTING CREDIT REPORTING SYSTEM CREDIT UNION CREDIT UNIONS DEPOSITS DISCLOSURE OF INFORMATION DISPUTE RESOLUTION EDUCATIONAL MATERIAL FINANCES FINANCIAL CONSUMER FINANCIAL INDUSTRY FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL ISSUES FINANCIAL LITERACY FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL NEEDS FINANCIAL PRODUCT FINANCIAL PRODUCTS FINANCIAL SECTOR FINANCIAL SECTORS FINANCIAL SERVICES FINANCIAL SERVICES AUTHORITY FRAUD FRAUDS FULL DISCLOSURE GENERAL PUBLIC IMAGE INFORMATION DISCLOSURE INFORMATION POLICY INFORMED DECISION INFORMED DECISIONS INSPECTIONS INSTITUTIONAL FRAMEWORK INSURANCE INSURANCE ACTIVITY INSURANCE COMPANIES INSURANCE COMPANY INSURERS INTEREST RATES INTERNATIONAL BEST PRACTICE INVESTMENT PRODUCTS ISSUANCE ISSUANCE OF CREDIT JURISDICTIONS LAWS LEGAL ENVIRONMENT LEGAL PROVISIONS LEGISLATION LEVEL OF EDUCATION LEVEL PLAYING FIELD LICENSE LICENSES LIFE INSURANCE LIFE INSURANCE PRODUCTS LIMITED ACCESS LOAN MARKET COMPETITION MARKET PARTICIPANTS MARKET REGULATOR MARKET STABILITY MICROFINANCE MICROFINANCE INSTITUTIONS MONEY MARKET MONEY MARKET MUTUAL FUNDS MORTGAGE MORTGAGE LOANS MORTGAGES MUTUAL FUNDS NATIONAL BANK OUTSOURCING PENALTIES POINT OF SALE POLITICAL STABILITY PRIVATE CREDIT PRIVATE CREDIT BUREAU PRIVATE CREDIT BUREAUS PRUDENTIAL SUPERVISION PUBLIC AWARENESS REGULATORS REGULATORY REGIME REGULATORY REGIMES RESERVES RESULT RESULTS SALE SALES SAVINGS SAVINGS ACCOUNTS SECURITIES SECURITIES LAW SELF-REGULATION SENIOR SHARE CAPITAL STAKEHOLDERS STANDARD CONTRACT SUPERVISORY AGENCIES SUPERVISORY AGENCY SUPERVISORY AUTHORITIES SUPERVISORY AUTHORITY TOOLS FOR CONSUMER TRACK RECORD TRANSACTION UNFAIR COMPETITION UNFAIR PRACTICES USES VALUABLE VERIFICATION WEB
Online Access:	http://documents.worldbank.org/curated/en/727731468261335931/Action-Plan-for-Strengthening-Financial-Services-Consumer-Protection-in-Azerbaijan http://hdl.handle.net/10986/27715

Description
Summary:	This Action Plan is based on the World Bank’s Technical Note on Consumer Protection and Financial Literacy in Azerbaijan published in June 2009. The Action Plan focuses on the Legal and Regulatory Issues of the Technical Note’s Key Findings and Recommendations, proposing specific actions for Azerbaijani authorities, financial institutions and consumer organizations so that consumer protection is strengthened and made more effective and efficient. The Action Plan should be the base upon which specific legal changes should be drafted and against which their implementation should be evaluated. Beside the Technical Note itself, the Action Plan draws on best international practices and experiences of regulators and supervisors that have tried to introduce improved consumer protection in their countries. It should also be noted that a well-balanced consumer protection regime serves also the interest of financial institutions as it provides them with better informed clients and also makes sure that clients understand their obligations under the contracts they signed. The Action Plan is divided into five parts that cover the key areas based on the recommendations of the Technical Note: (a) Legal Mandate, (b) Effective Supervision and Regulation, (c) Disclosure of Information, (d) Business Practices, and (e) Dispute Resolution.

Action Plan for Strengthening Financial Services Consumer Protection in Azerbaijan

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