Protecting consumers of financial services is not about petitions, but about everyone’s financial security and a strong and efficient financial sector. The chairman of the National Commission for the Financial Market, Dumitru Budianschi, who made the statements at a press club, says that the NCFMF is making every effort to impose rules on the financial market in accordance with which financial service providers act in the interest of consumers, IPN reports.
According to Budianschi, the CNPF has prepared a set of amendments to the legal framework to correct the shortcomings detected over time. The draft is now with the Ministry of Finance.
“We have a task to develop the framework, not only on the basis of the urgent needs, which we have set, but of what we could call a perspective whereby consumer protection could be effective and recognized as an important function by all actors in the financial sector”, says Dumitru Budianschi.
One model is the European Union regulations, from which Moldova can learn. And implementation must be in line with Moldova’s needs.
„Va trebui să pune în discuție „cine este consumatorul”. În multe țări, consumatorul nu este doar persoana fizică, dar sunt și acei reprezentanți ai întreprinderilor mici și mijlocii. Ținând cont de specificul Republicii Moldova, microîntreprinderile trebuie și ele aduse în această zonă”, a specificat Dumitru Budianschi.
The involvement of civil society in defending the interests of consumers of credit products is also essential, particularly in the case of collective representation. Consumer associations in the Republic of Moldova are almost invisible, says the president of the CNPF, especially when compared with employers’ associations and business or trade associations. This is where the authorities need to intervene to stimulate the development of financial services consumer associations.
