Working groups established within associations to help protect financial consumer rights

30-01-2025

Baku, January 30, 2025: In order to strengthen the protection of the rights of financial consumers, working groups have been established within the associations. Thus, the working groups operating under the Azerbaijan Banks Association, the Azerbaijan Insurance Association, the Azerbaijan Microfinance Association, the Azerbaijan Fintech Association and the Azerbaijan Stock Market Participants Association will contribute to increasing the efficiency of consumer rights protection, restoring violated rights and resolving disputes promptly and effectively.

On January 27 this year an online meeting was held with the participation of working groups, including representatives of the Association. Within the framework of the meeting, the issues related to compliance with the requirements of the legislation in responding to citizens' appeals addressed to the supervision entities by the Central Bank on the merits, the effective activity of the working groups and the work done in this direction and to be done in the current year were brought to attention.

The meeting also included suggestions on the work being done to protect the rights of consumers and investors in financial services, and discussions were held on this topic.