The National Bank of Moldova informs the citizens that they can defend the consumer right to financial services by filing a petition to the National Commission for Financial Markets (NCFM) as the duty to protect the consumers of financial services will be fulfilled by the Commission from now on. This way, the most important powers of the Commission are regulated by the mechanism for dealing with clients’ complaints and the petitions related to the NCFM’s work, IPN reports.
According to the central bank, the citizens can submit a petition to the NCFM if nonbank lending organizations, insurers, intermediaries in the insurance sector (as from July 3, 2023) and also banks, payment services providers and issuers of electronic coins and currency exchange facilities (as from January 1, 2024) are involved.
Consumers can also receive assistance on the telephone line or directly at the Commission’s head office.
On July 1, 2023, the National Bank of Moldova took over the licensing/authorization, regulation and supervision of professional participants in the insurance market, nonbank lending organizations, savings and loan associations and credit bureaus.
