23 COMPLAINTS RECEIVED BY FINANCIAL OMBUDSMAN ON FINANCIAL ORGANIZATIONS IN ARMENIA IN JULY

/ARKA/
August 10, 2009
Yerevan

Armenian financial ombudsman’s office received 23 complaints on
financial organizations in July this year, says the press release of
the office.

Over the reporting month, many complaints were received on topics
other than financial organizations.

According to the report, 13 complaints were beyond financial
ombudsman’s competence. Part of these complaints was from legal
entities or private entrepreneurs, some others concerned events that
took place before the law about financial ombudsman came into force.

Court judgments have been already given on some of these complaints;
some others are still under consideration or do not contain property
claims.

According to the press release, five out of 10 complaints within
financial ombudsman’s competence were made in written and were
given consideration. For the other five, clients had no proper
applications made to the respective financial organizations. The staff
of ombudsman’s office helped them arrange their claims and send them
to the financial organizations.

Armenia is the first country among CIS countries to introduce the
financial ombudsman’s institution – as from January 24 2009 – under
the country’s law "About Financial Ombudsman".

According to item 2 of article 31 of the law, ombudsman is obliged to

summarize a precedent he established and publish it by the 15th of
every next month.