FINANCIAL OMBUDSMAN’S OFFICE TO START FUNCTIONING IN ARMENIA
Hasmik Dilanyan

"Radiolur"
23.01.2009 13:59

If everything goes within the framework of law, the Armenian public
trust in the financial system of the country will soon rise. For this
purpose the Office of the Financial Ombudsman will start functioning
in Armenia from tomorrow. The details of the activity of the Financial
Ombudsman’s Office were clarified today at the Central Bank of Armenia.

When making financial tranfers, cliens can now be calm. In case of
suffering financial losses as a result of delay they will be able to
apply to Piruza Sargsyan, the only financial ombudsman in our country.

The insurant, who has damaged his car in an accident, can also apply to
the Ombudsman if the insurance company refuses to reimburse the damage.

According to the President of the Central Bank of Armenia, Arthur
Javadyan, "the structure will function on the basis of internationally
accepted principles. Clients will be served free of charge."

The decision of the Financial Ombudsman will be binding for all
financial organizations. The insurance brokers, investment companies,
pawnshops, companies engaged in foreign currency exchange cannot
apply to the Ombudsman’s Office.