South Africa Financial Ombud System Diagnostic
The Finance, Competitiveness and Innovation Global Practice of the World Bank Group (WBG) aims to help countries build financial systems that are deep, diversified, inclusive, efficient, and stable essential to promoting economic growth, reducing p...
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| Format: | Report |
| Language: | English |
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World Bank, Washington, DC
2021
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| Online Access: | http://documents.worldbank.org/curated/undefined/572061623402638435/South-Africa-Financial-Ombud-System-Diagnostic http://hdl.handle.net/10986/36211 |
| Summary: | The Finance, Competitiveness and
Innovation Global Practice of the World Bank Group (WBG)
aims to help countries build financial systems that are
deep, diversified, inclusive, efficient, and stable
essential to promoting economic growth, reducing poverty,
and increasing shared prosperity. One core activity is
supporting national authorities to achieve their objectives
for financial inclusion, by supporting policy, legal,
regulatory, and supervisory reforms in areas such as
financial consumer protection, including financial-sector
alternative dispute resolution (ADR). Through the South
Africa Financial Sector Development and Reform Program, the
WBG is supporting the national reform process, which
includes achieving an efficient and effective ADR system, so
that financial customers can hold financial institutions to
account if there is a dispute. This diagnostic review
valuates the current financial-sector Ombud system in South
Africa, Compares it against international good practice, and
recommends reforms to provide good-quality outcomes and good
value for money for the future. |
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