Federal Democratic Republic of Ethiopia Diagnostic Review of Financial Consumer Protection
The objective of the Diagnostic Review of Financial Consumer Protection in Ethiopia is to assess the legal, regulatory, and institutional framework for financial consumer protection (FCP) and develop prioritized and tailored recommendations aimed a...
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| Format: | Report |
| Language: | English |
| Published: |
World Bank, Washington, DC
2018
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| Online Access: | http://documents.worldbank.org/curated/en/176661544715033366/Ethiopia-Diagnostic-Review-of-Financial-Consumer-Protection-Key-Findings-and-Recommendations http://hdl.handle.net/10986/31048 |
| Summary: | The objective of the Diagnostic Review
of Financial Consumer Protection in Ethiopia is to assess
the legal, regulatory, and institutional framework for
financial consumer protection (FCP) and develop prioritized
and tailored recommendations aimed at supporting the
National Bank of Ethiopia (NBE) in developing and
operationalizing improvements to that framework. The
assessment is conducted under the Ethiopia Financial
Inclusion Support Framework (FISF) Program, and based on the
revised and enhanced 2017 Edition of the World Bank Good
Practices for Financial Consumer Protection with focus on
retail products and services in four sectors: i) banks and
non-bank financial institutions (NBFIs); ii) payments; and
iii) insurance. Further, the review covers five topics in
each of the above-mentioned sectors: i) legal, regulatory,
and supervisory framework; ii) disclosure and sales
practices; iii) fair treatment and business conduct; iv)
data privacy; and v) dispute resolution mechanisms. The
report reflects the existing legal, regulatory, and
institutional framework in Ethiopia, with references to
planned reforms that were presented to or discussed with the
World Bank team. It also features industry practices
identified through interviews with financial services
providers, financial regulators, and consumer and industry associations. |
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