The Impact of the World Bank on the Improvements of Consumer Protection in Financial Services and on Developing Financial Literacy in the Czech Republic and Slovakia
This study analyzes the impact of work of the World Bank in the areas of consumer protection in financial services and in improving financial literacy in the Czech Republic and Slovakia, the first two countries where the World Bank provided technic...
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| Format: | Report |
| Language: | English en_US |
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World Bank, Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/360221468246042415/The-impact-of-the-World-Bank-on-the-improvements-of-consumer-protection-in-financial-services-and-on-developing-financial-literacy-in-the-Czech-Republic-and-Slovakia http://hdl.handle.net/10986/27731 |
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okr-10986-27731 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNTABILITY ADVISORY SERVICES APR ARBITRATION ASSET VALUE BAD ADVICE BANK CREDIT BANK DEPOSITS BANK LOANS BANK OFFICIALS BANKING PRODUCTS BANKING SECTOR BANKS BEST PRACTICES BOND BOND PRICES BROKER BROKERS BUSINESS CREDITS CAPITAL MARKET CAPITAL MARKETS CENTRAL BANK CENTRAL BANK SUPERVISION COLLECTIVE INVESTMENT COMPREHENSIVE FINANCIAL LITERACY CONSULTATION PROCESS CONSUMER CONSUMER COMPLAINTS CONSUMER CONFIDENCE CONSUMER CREDIT CONSUMER CREDITS CONSUMER EDUCATION CONSUMER FINANCE CONSUMER ORGANIZATIONS CONSUMER PROTECTION CONSUMER PROTECTION LAW CONSUMER PROTECTION LAWS CONSUMER PROTECTION MEASURES CONSUMER RIGHTS CONSUMERS CONSUMERS ASSOCIATIONS CONTRIBUTION CORPORATE DEPOSITS CORPORATE GOVERNANCE COURT SETTLEMENT COURT SETTLEMENTS CREDIT CARD CREDIT CARD INTEREST RATES CREDIT MARKET CREDIT MARKETS CREDIT PROVIDERS CREDIT UNION CREDIT UNIONS CURRENCY CURRENT ACCOUNTS CURRICULA CURRICULUM DEBT DEBTS DECEPTIVE PRACTICES DEFAULTS DEPOSIT DEPOSITORS DEPOSITS DISCLOSURE REQUIREMENTS DISCRIMINATION DISPUTE RESOLUTION EDUCATION PROGRAM EDUCATION STANDARDS EDUCATION SYSTEM EDUCATIONAL MATERIAL EDUCATIONAL PROGRAM EDUCATIONAL PROGRAMS EQUAL TREATMENT FINANCE COMPANIES FINANCIAL ADVICE FINANCIAL ADVISER FINANCIAL ADVISOR FINANCIAL ADVISORS FINANCIAL COMPANIES FINANCIAL CONSUMER FINANCIAL CONSUMERS FINANCIAL CRISIS FINANCIAL DECISIONS FINANCIAL EDUCATION FINANCIAL EDUCATION PROGRAMS FINANCIAL INDUSTRY FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIATION FINANCIAL ISSUES FINANCIAL LITERACY FINANCIAL LITERACY SURVEY FINANCIAL MARKET FINANCIAL MARKET DEVELOPMENTS FINANCIAL MARKETS FINANCIAL MATTERS FINANCIAL PRODUCT FINANCIAL PRODUCTS FINANCIAL RESPONSIBILITY FINANCIAL SECTOR FINANCIAL SERVICE FINANCIAL SERVICE PROVIDERS FINANCIAL SERVICES FINANCIAL SERVICES PROVIDERS FINANCIAL SUPPORT FOREIGN FUNDS FULL DISCLOSURE GENERAL PUBLIC GOVERNMENT POLICY GOVERNMENT REGULATION GOVERNMENT SUPPORT GUARANTEE SCHEME GUARANTEE SCHEMES HIGH SCHOOL FINANCIAL EDUCATION HIGH SCHOOL STUDENTS HOUSEHOLDS INCOME INDEBTEDNESS INFLATION INFORMATION ASYMMETRY INFORMATION DISCLOSURE INFORMATION REQUIREMENTS INFORMATION TO CONSUMERS INFORMED CONSUMERS INFORMED DECISIONS INSURANCE INSURANCE COMPANIES INSURANCE MARKET INTEREST RATE INTEREST RATES INVESTMENT ADVISORS INVESTMENT COMPANIES INVESTMENT FUNDS INVESTMENT PRODUCTS LACK OF EXPERIENCE LARGE BANKS LEGAL ASSISTANCE LEGAL FRAMEWORK LEGISLATION LENDER LEVEL OF CONTRIBUTION LEVEL OF KNOWLEDGE LEVEL PLAYING FIELD LEVY LIFE INSURANCE LIFE INSURANCE PRODUCTS LOAN LOAN PRODUCTS LOW FINANCIAL LITERACY MANDATES MARKET DEVELOPMENT MARKET INFORMATION MARKET PARTICIPANTS MARKET PLAYER MARKET SHARE MARKETING MATURITY MONEY MARKET MORTGAGES MUTUAL FUNDS NATIONAL BANK NATIONAL BANK OF SLOVAKIA NET ASSET NEW MARKETS OUTSTANDING DEBT PAYMENT SERVICES PAYMENTS SERVICES PENSION PENSION CONTRACTS PENSION FUNDS PENSION REFORM PENSIONS PERSONAL FINANCE PERSONAL FINANCIAL EDUCATION POINT OF SALE PROFESSIONAL ASSOCIATIONS PROFESSIONAL INVESTORS PROFESSIONAL QUALIFICATION PRUDENTIAL SUPERVISION PUBLIC AGENCIES PUBLIC BUDGET PUBLIC EDUCATION PUBLIC FINANCE PUBLIC REGISTER REGULATORY CAPACITY REGULATORY FRAMEWORK RESERVES RESIDENTIAL MORTGAGES RETAIL BANKING RETAIL CREDITS RETAIL FINANCIAL MARKET RETAIL SAVINGS SALE SALES SAVINGS SAVINGS ACCOUNT SAVINGS SCHEMES SECURITIES SECURITIES REGULATION SENIOR SOCIAL RESPONSIBILITY SOURCE OF INFORMATION STAKEHOLDER STAKEHOLDERS SUPERVISORY AGENCIES SUPERVISORY AGENCY SUPERVISORY AUTHORITIES TECHNICAL ASSISTANCE TYPES OF CONSUMER |
| spellingShingle |
ACCOUNTABILITY ADVISORY SERVICES APR ARBITRATION ASSET VALUE BAD ADVICE BANK CREDIT BANK DEPOSITS BANK LOANS BANK OFFICIALS BANKING PRODUCTS BANKING SECTOR BANKS BEST PRACTICES BOND BOND PRICES BROKER BROKERS BUSINESS CREDITS CAPITAL MARKET CAPITAL MARKETS CENTRAL BANK CENTRAL BANK SUPERVISION COLLECTIVE INVESTMENT COMPREHENSIVE FINANCIAL LITERACY CONSULTATION PROCESS CONSUMER CONSUMER COMPLAINTS CONSUMER CONFIDENCE CONSUMER CREDIT CONSUMER CREDITS CONSUMER EDUCATION CONSUMER FINANCE CONSUMER ORGANIZATIONS CONSUMER PROTECTION CONSUMER PROTECTION LAW CONSUMER PROTECTION LAWS CONSUMER PROTECTION MEASURES CONSUMER RIGHTS CONSUMERS CONSUMERS ASSOCIATIONS CONTRIBUTION CORPORATE DEPOSITS CORPORATE GOVERNANCE COURT SETTLEMENT COURT SETTLEMENTS CREDIT CARD CREDIT CARD INTEREST RATES CREDIT MARKET CREDIT MARKETS CREDIT PROVIDERS CREDIT UNION CREDIT UNIONS CURRENCY CURRENT ACCOUNTS CURRICULA CURRICULUM DEBT DEBTS DECEPTIVE PRACTICES DEFAULTS DEPOSIT DEPOSITORS DEPOSITS DISCLOSURE REQUIREMENTS DISCRIMINATION DISPUTE RESOLUTION EDUCATION PROGRAM EDUCATION STANDARDS EDUCATION SYSTEM EDUCATIONAL MATERIAL EDUCATIONAL PROGRAM EDUCATIONAL PROGRAMS EQUAL TREATMENT FINANCE COMPANIES FINANCIAL ADVICE FINANCIAL ADVISER FINANCIAL ADVISOR FINANCIAL ADVISORS FINANCIAL COMPANIES FINANCIAL CONSUMER FINANCIAL CONSUMERS FINANCIAL CRISIS FINANCIAL DECISIONS FINANCIAL EDUCATION FINANCIAL EDUCATION PROGRAMS FINANCIAL INDUSTRY FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIATION FINANCIAL ISSUES FINANCIAL LITERACY FINANCIAL LITERACY SURVEY FINANCIAL MARKET FINANCIAL MARKET DEVELOPMENTS FINANCIAL MARKETS FINANCIAL MATTERS FINANCIAL PRODUCT FINANCIAL PRODUCTS FINANCIAL RESPONSIBILITY FINANCIAL SECTOR FINANCIAL SERVICE FINANCIAL SERVICE PROVIDERS FINANCIAL SERVICES FINANCIAL SERVICES PROVIDERS FINANCIAL SUPPORT FOREIGN FUNDS FULL DISCLOSURE GENERAL PUBLIC GOVERNMENT POLICY GOVERNMENT REGULATION GOVERNMENT SUPPORT GUARANTEE SCHEME GUARANTEE SCHEMES HIGH SCHOOL FINANCIAL EDUCATION HIGH SCHOOL STUDENTS HOUSEHOLDS INCOME INDEBTEDNESS INFLATION INFORMATION ASYMMETRY INFORMATION DISCLOSURE INFORMATION REQUIREMENTS INFORMATION TO CONSUMERS INFORMED CONSUMERS INFORMED DECISIONS INSURANCE INSURANCE COMPANIES INSURANCE MARKET INTEREST RATE INTEREST RATES INVESTMENT ADVISORS INVESTMENT COMPANIES INVESTMENT FUNDS INVESTMENT PRODUCTS LACK OF EXPERIENCE LARGE BANKS LEGAL ASSISTANCE LEGAL FRAMEWORK LEGISLATION LENDER LEVEL OF CONTRIBUTION LEVEL OF KNOWLEDGE LEVEL PLAYING FIELD LEVY LIFE INSURANCE LIFE INSURANCE PRODUCTS LOAN LOAN PRODUCTS LOW FINANCIAL LITERACY MANDATES MARKET DEVELOPMENT MARKET INFORMATION MARKET PARTICIPANTS MARKET PLAYER MARKET SHARE MARKETING MATURITY MONEY MARKET MORTGAGES MUTUAL FUNDS NATIONAL BANK NATIONAL BANK OF SLOVAKIA NET ASSET NEW MARKETS OUTSTANDING DEBT PAYMENT SERVICES PAYMENTS SERVICES PENSION PENSION CONTRACTS PENSION FUNDS PENSION REFORM PENSIONS PERSONAL FINANCE PERSONAL FINANCIAL EDUCATION POINT OF SALE PROFESSIONAL ASSOCIATIONS PROFESSIONAL INVESTORS PROFESSIONAL QUALIFICATION PRUDENTIAL SUPERVISION PUBLIC AGENCIES PUBLIC BUDGET PUBLIC EDUCATION PUBLIC FINANCE PUBLIC REGISTER REGULATORY CAPACITY REGULATORY FRAMEWORK RESERVES RESIDENTIAL MORTGAGES RETAIL BANKING RETAIL CREDITS RETAIL FINANCIAL MARKET RETAIL SAVINGS SALE SALES SAVINGS SAVINGS ACCOUNT SAVINGS SCHEMES SECURITIES SECURITIES REGULATION SENIOR SOCIAL RESPONSIBILITY SOURCE OF INFORMATION STAKEHOLDER STAKEHOLDERS SUPERVISORY AGENCIES SUPERVISORY AGENCY SUPERVISORY AUTHORITIES TECHNICAL ASSISTANCE TYPES OF CONSUMER Prouza, Tomáš The Impact of the World Bank on the Improvements of Consumer Protection in Financial Services and on Developing Financial Literacy in the Czech Republic and Slovakia |
| geographic_facet |
Europe and Central Asia Czech Republic Slovak Republic |
| description |
This study analyzes the impact of work
of the World Bank in the areas of consumer protection in
financial services and in improving financial literacy in
the Czech Republic and Slovakia, the first two countries
where the World Bank provided technical assistance in the
areas of consumer protection in financial services and
financial literacy. The impulse of the Czech authorities was
their understanding that consumer protection was lacking in
the area of financial services while the offer and
complexity of financial products was growing rapidly in the
quickly developing post-communist market. The authorities
were dealing with a growing number of complaints from the
public as well as increasing media coverage of consumer
complaints, while lacking adequate internal expertise to
deal with these issues. The World Bank prepared the
technical note on consumer protection in financial services
for the Czech Republic. After the note was presented
publicly at a dissemination seminar in the Czech Republic,
authorities of the Slovak Republic requested similar
assistance as they were dealing with similar issues. This
study describes the impact the pioneering work of the World
Bank team had on the Czech Republic and Slovakia, and how it
assisted national authorities in improving consumer
protection in financial services and developing programs to
increase financial literacy of the Czech and Slovak populations. |
| format |
Report |
| author |
Prouza, Tomáš |
| author_facet |
Prouza, Tomáš |
| author_sort |
Prouza, Tomáš |
| title |
The Impact of the World Bank on the Improvements of Consumer Protection in Financial Services and on Developing Financial Literacy in the Czech Republic and Slovakia |
| title_short |
The Impact of the World Bank on the Improvements of Consumer Protection in Financial Services and on Developing Financial Literacy in the Czech Republic and Slovakia |
| title_full |
The Impact of the World Bank on the Improvements of Consumer Protection in Financial Services and on Developing Financial Literacy in the Czech Republic and Slovakia |
| title_fullStr |
The Impact of the World Bank on the Improvements of Consumer Protection in Financial Services and on Developing Financial Literacy in the Czech Republic and Slovakia |
| title_full_unstemmed |
The Impact of the World Bank on the Improvements of Consumer Protection in Financial Services and on Developing Financial Literacy in the Czech Republic and Slovakia |
| title_sort |
impact of the world bank on the improvements of consumer protection in financial services and on developing financial literacy in the czech republic and slovakia |
| publisher |
World Bank, Washington, DC |
| publishDate |
2017 |
| url |
http://documents.worldbank.org/curated/en/360221468246042415/The-impact-of-the-World-Bank-on-the-improvements-of-consumer-protection-in-financial-services-and-on-developing-financial-literacy-in-the-Czech-Republic-and-Slovakia http://hdl.handle.net/10986/27731 |
| _version_ |
1764464615442350080 |
| spelling |
okr-10986-277312021-04-23T14:04:42Z The Impact of the World Bank on the Improvements of Consumer Protection in Financial Services and on Developing Financial Literacy in the Czech Republic and Slovakia Prouza, Tomáš ACCOUNTABILITY ADVISORY SERVICES APR ARBITRATION ASSET VALUE BAD ADVICE BANK CREDIT BANK DEPOSITS BANK LOANS BANK OFFICIALS BANKING PRODUCTS BANKING SECTOR BANKS BEST PRACTICES BOND BOND PRICES BROKER BROKERS BUSINESS CREDITS CAPITAL MARKET CAPITAL MARKETS CENTRAL BANK CENTRAL BANK SUPERVISION COLLECTIVE INVESTMENT COMPREHENSIVE FINANCIAL LITERACY CONSULTATION PROCESS CONSUMER CONSUMER COMPLAINTS CONSUMER CONFIDENCE CONSUMER CREDIT CONSUMER CREDITS CONSUMER EDUCATION CONSUMER FINANCE CONSUMER ORGANIZATIONS CONSUMER PROTECTION CONSUMER PROTECTION LAW CONSUMER PROTECTION LAWS CONSUMER PROTECTION MEASURES CONSUMER RIGHTS CONSUMERS CONSUMERS ASSOCIATIONS CONTRIBUTION CORPORATE DEPOSITS CORPORATE GOVERNANCE COURT SETTLEMENT COURT SETTLEMENTS CREDIT CARD CREDIT CARD INTEREST RATES CREDIT MARKET CREDIT MARKETS CREDIT PROVIDERS CREDIT UNION CREDIT UNIONS CURRENCY CURRENT ACCOUNTS CURRICULA CURRICULUM DEBT DEBTS DECEPTIVE PRACTICES DEFAULTS DEPOSIT DEPOSITORS DEPOSITS DISCLOSURE REQUIREMENTS DISCRIMINATION DISPUTE RESOLUTION EDUCATION PROGRAM EDUCATION STANDARDS EDUCATION SYSTEM EDUCATIONAL MATERIAL EDUCATIONAL PROGRAM EDUCATIONAL PROGRAMS EQUAL TREATMENT FINANCE COMPANIES FINANCIAL ADVICE FINANCIAL ADVISER FINANCIAL ADVISOR FINANCIAL ADVISORS FINANCIAL COMPANIES FINANCIAL CONSUMER FINANCIAL CONSUMERS FINANCIAL CRISIS FINANCIAL DECISIONS FINANCIAL EDUCATION FINANCIAL EDUCATION PROGRAMS FINANCIAL INDUSTRY FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIATION FINANCIAL ISSUES FINANCIAL LITERACY FINANCIAL LITERACY SURVEY FINANCIAL MARKET FINANCIAL MARKET DEVELOPMENTS FINANCIAL MARKETS FINANCIAL MATTERS FINANCIAL PRODUCT FINANCIAL PRODUCTS FINANCIAL RESPONSIBILITY FINANCIAL SECTOR FINANCIAL SERVICE FINANCIAL SERVICE PROVIDERS FINANCIAL SERVICES FINANCIAL SERVICES PROVIDERS FINANCIAL SUPPORT FOREIGN FUNDS FULL DISCLOSURE GENERAL PUBLIC GOVERNMENT POLICY GOVERNMENT REGULATION GOVERNMENT SUPPORT GUARANTEE SCHEME GUARANTEE SCHEMES HIGH SCHOOL FINANCIAL EDUCATION HIGH SCHOOL STUDENTS HOUSEHOLDS INCOME INDEBTEDNESS INFLATION INFORMATION ASYMMETRY INFORMATION DISCLOSURE INFORMATION REQUIREMENTS INFORMATION TO CONSUMERS INFORMED CONSUMERS INFORMED DECISIONS INSURANCE INSURANCE COMPANIES INSURANCE MARKET INTEREST RATE INTEREST RATES INVESTMENT ADVISORS INVESTMENT COMPANIES INVESTMENT FUNDS INVESTMENT PRODUCTS LACK OF EXPERIENCE LARGE BANKS LEGAL ASSISTANCE LEGAL FRAMEWORK LEGISLATION LENDER LEVEL OF CONTRIBUTION LEVEL OF KNOWLEDGE LEVEL PLAYING FIELD LEVY LIFE INSURANCE LIFE INSURANCE PRODUCTS LOAN LOAN PRODUCTS LOW FINANCIAL LITERACY MANDATES MARKET DEVELOPMENT MARKET INFORMATION MARKET PARTICIPANTS MARKET PLAYER MARKET SHARE MARKETING MATURITY MONEY MARKET MORTGAGES MUTUAL FUNDS NATIONAL BANK NATIONAL BANK OF SLOVAKIA NET ASSET NEW MARKETS OUTSTANDING DEBT PAYMENT SERVICES PAYMENTS SERVICES PENSION PENSION CONTRACTS PENSION FUNDS PENSION REFORM PENSIONS PERSONAL FINANCE PERSONAL FINANCIAL EDUCATION POINT OF SALE PROFESSIONAL ASSOCIATIONS PROFESSIONAL INVESTORS PROFESSIONAL QUALIFICATION PRUDENTIAL SUPERVISION PUBLIC AGENCIES PUBLIC BUDGET PUBLIC EDUCATION PUBLIC FINANCE PUBLIC REGISTER REGULATORY CAPACITY REGULATORY FRAMEWORK RESERVES RESIDENTIAL MORTGAGES RETAIL BANKING RETAIL CREDITS RETAIL FINANCIAL MARKET RETAIL SAVINGS SALE SALES SAVINGS SAVINGS ACCOUNT SAVINGS SCHEMES SECURITIES SECURITIES REGULATION SENIOR SOCIAL RESPONSIBILITY SOURCE OF INFORMATION STAKEHOLDER STAKEHOLDERS SUPERVISORY AGENCIES SUPERVISORY AGENCY SUPERVISORY AUTHORITIES TECHNICAL ASSISTANCE TYPES OF CONSUMER This study analyzes the impact of work of the World Bank in the areas of consumer protection in financial services and in improving financial literacy in the Czech Republic and Slovakia, the first two countries where the World Bank provided technical assistance in the areas of consumer protection in financial services and financial literacy. The impulse of the Czech authorities was their understanding that consumer protection was lacking in the area of financial services while the offer and complexity of financial products was growing rapidly in the quickly developing post-communist market. The authorities were dealing with a growing number of complaints from the public as well as increasing media coverage of consumer complaints, while lacking adequate internal expertise to deal with these issues. The World Bank prepared the technical note on consumer protection in financial services for the Czech Republic. After the note was presented publicly at a dissemination seminar in the Czech Republic, authorities of the Slovak Republic requested similar assistance as they were dealing with similar issues. This study describes the impact the pioneering work of the World Bank team had on the Czech Republic and Slovakia, and how it assisted national authorities in improving consumer protection in financial services and developing programs to increase financial literacy of the Czech and Slovak populations. 2017-08-10T21:07:13Z 2017-08-10T21:07:13Z 2010-07-24 Report http://documents.worldbank.org/curated/en/360221468246042415/The-impact-of-the-World-Bank-on-the-improvements-of-consumer-protection-in-financial-services-and-on-developing-financial-literacy-in-the-Czech-Republic-and-Slovakia http://hdl.handle.net/10986/27731 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work :: Other Financial Accountability Study Economic & Sector Work Europe and Central Asia Czech Republic Slovak Republic |