Paraguay Diagnostic Review of Consumer Protection and Financial Literacy : Volume 2. Comparison with Good Practices
This review of the Consumer Protection and Financial Literacy Framework (CPFL) in Paraguay was undertaken in response to a request for technical assistance in this area made by the Central Bank of Paraguay (BCP). The objectives were: (i) to assess...
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| Format: | Economic & Sector Work |
| Language: | English en_US |
| Published: |
World Bank Group, Washington, DC
2015
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| Online Access: | http://documents.worldbank.org/curated/en/2015/01/24028296/paraguay-diagnostic-review-consumer-protection-financial-literacy-vol-2-comparison-good-practices http://hdl.handle.net/10986/21487 |
| Summary: | This review of the Consumer Protection
and Financial Literacy Framework (CPFL) in Paraguay was
undertaken in response to a request for technical assistance
in this area made by the Central Bank of Paraguay (BCP). The
objectives were: (i) to assess the existing consumer
protection and financial literacy framework by reviewing
laws, regulations, and actual practices in Paraguay, and
comparing it with international good practice; and (ii) to
provide recommendations on ways to improve the level of
financial consumer protection and financial literacy in the
country. The Diagnostic Review provides a detailed
assessment of the institutional, legal and regulatory
framework for consumer protection in four segments of the
financial sector: (i) banks and finance companies, (ii)
financial cooperatives, (iii) insurance companies, and, - in
reflection of the important role they play in Paraguay -
(iv) non-bank agents and mobile payment providers. Its
findings and recommendations cover six thematic areas: (i)
Institutional Arrangements, (ii) Legal and Regulatory
Framework, (iii) Transparency and Disclosure, (iv) Business
Practices, (v) Complaints Handling and Dispute Resolution,
and as a stand-alone section (vi) Financial Education. |
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