Rwanda Diagnostic Review of Consumer Protection and Financial Literacy : Private Pensions and Securities, Volume 2. Comparison with Good Practices

Rwanda Diagnostic Review of Consumer Protection and Financial Literacy : Private Pensions and Securities, Volume 2. Comparison with Good Practices

This review of consumer protection and financial literacy (CPFL) in the private pensions and securities sectors in Rwanda complements the 2013 review of Rwanda’s banking, microfinance, and insurance sectors. As noted previously, the institutional e...

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Main Author: World Bank
Format: Report
Language:English
en_US
Published: World Bank, Washington, DC 2017
Subjects:
CONSUMER PROTECTION
FINANCIAL LITERACY
PENSIONS
SECURITIES
Online Access:http://documents.worldbank.org/curated/en/784411490673632065/Comparison-with-good-practices
http://hdl.handle.net/10986/26435
id okr-10986-26435
recordtype oai_dc
spelling okr-10986-264352021-04-23T14:04:36Z Rwanda Diagnostic Review of Consumer Protection and Financial Literacy : Private Pensions and Securities, Volume 2. Comparison with Good Practices World Bank CONSUMER PROTECTION FINANCIAL LITERACY PENSIONS SECURITIES This review of consumer protection and financial literacy (CPFL) in the private pensions and securities sectors in Rwanda complements the 2013 review of Rwanda’s banking, microfinance, and insurance sectors. As noted previously, the institutional elements of the formal financial sector in Rwanda are in place but the levels of financial inclusion are still low. The government pension scheme covers less than 3 percent of the population, and the voluntary private pension funds cover less than 1 percent. The new Pensions Law in Rwanda introduced a comprehensive regulation of the private pension funds, providing a basis for sound consumer protection and opening opportunities for growth, and yet some CPFL issues still need to be addressed. The securities market lists only 7 equities and 9 bonds, capitalized at 27 percent of GDP. The 2011 laws on capital markets regulation introduced a sound regulatory framework that is not yet complete nonetheless and requires stronger investor protection. The key findings and recommendations of the Review – presented in Volume 1 of 2 – detail the main CPFL challenges and the suggested high priority remedies. The full list of recommendations is presented in the annexes. Volume 2 provides a detailed assessment of CPFL in both the private pensions and securities sectors against the international best practices summarized in the World Bank Group’s good practices for financial consumer protection and financial literacy/capability. 2017-04-24T20:03:48Z 2017-04-24T20:03:48Z 2015-11 Report http://documents.worldbank.org/curated/en/784411490673632065/Comparison-with-good-practices http://hdl.handle.net/10986/26435 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 Africa Rwanda
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 CONSUMER PROTECTION
FINANCIAL LITERACY
PENSIONS
SECURITIES
spellingShingle CONSUMER PROTECTION
FINANCIAL LITERACY
PENSIONS
SECURITIES
World Bank
Rwanda Diagnostic Review of Consumer Protection and Financial Literacy : Private Pensions and Securities, Volume 2. Comparison with Good Practices
geographic_facet Africa
Rwanda
description This review of consumer protection and financial literacy (CPFL) in the private pensions and securities sectors in Rwanda complements the 2013 review of Rwanda’s banking, microfinance, and insurance sectors. As noted previously, the institutional elements of the formal financial sector in Rwanda are in place but the levels of financial inclusion are still low. The government pension scheme covers less than 3 percent of the population, and the voluntary private pension funds cover less than 1 percent. The new Pensions Law in Rwanda introduced a comprehensive regulation of the private pension funds, providing a basis for sound consumer protection and opening opportunities for growth, and yet some CPFL issues still need to be addressed. The securities market lists only 7 equities and 9 bonds, capitalized at 27 percent of GDP. The 2011 laws on capital markets regulation introduced a sound regulatory framework that is not yet complete nonetheless and requires stronger investor protection. The key findings and recommendations of the Review – presented in Volume 1 of 2 – detail the main CPFL challenges and the suggested high priority remedies. The full list of recommendations is presented in the annexes. Volume 2 provides a detailed assessment of CPFL in both the private pensions and securities sectors against the international best practices summarized in the World Bank Group’s good practices for financial consumer protection and financial literacy/capability.
format Report
author World Bank
author_facet World Bank
author_sort World Bank
title Rwanda Diagnostic Review of Consumer Protection and Financial Literacy : Private Pensions and Securities, Volume 2. Comparison with Good Practices
title_short Rwanda Diagnostic Review of Consumer Protection and Financial Literacy : Private Pensions and Securities, Volume 2. Comparison with Good Practices
title_full Rwanda Diagnostic Review of Consumer Protection and Financial Literacy : Private Pensions and Securities, Volume 2. Comparison with Good Practices
title_fullStr Rwanda Diagnostic Review of Consumer Protection and Financial Literacy : Private Pensions and Securities, Volume 2. Comparison with Good Practices
title_full_unstemmed Rwanda Diagnostic Review of Consumer Protection and Financial Literacy : Private Pensions and Securities, Volume 2. Comparison with Good Practices
title_sort rwanda diagnostic review of consumer protection and financial literacy : private pensions and securities, volume 2. comparison with good practices
publisher World Bank, Washington, DC
publishDate 2017
url http://documents.worldbank.org/curated/en/784411490673632065/Comparison-with-good-practices
http://hdl.handle.net/10986/26435
_version_ 1764461912690524160

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