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PublicationRomania : Diagnostic Review of Consumer Protection and Financial Literacy, Volume 1. Key Finding and Recommendations(Washington, DC, 2009-07) World BankThe diagnostic review on consumer protection and financial literacy in Romania is the fourth in a World Bank-sponsored pilot program to assess consumer protection and financial literacy in developing and middle-income countries. The objective of this review are three-fold to: (1) refine a set of good practices for assessing consumer protection and financial literacy, including financial literacy; (2) conduct a review of the existing rules and practices in Romania compared to the good practices; and (3) provide recommendations on ways to improve consumer protection and financial literacy in Romania. The diagnostic review was prepared at the request of National Authority for Consumers Protection (ANPC), whose request was endorsed by the Ministry of Economy and Finance. Support was provided by the National Bank of Romania (BNR), which supervises banks and non-bank credit institutions. Further assistance was given by supervisory commissions for securities (CNVM), insurance (CSA) and private pensions (CSSPP). Volume one notes the importance of consumer protection and finical literacy, provides statistics on the size and growth of the retail financial sector in Romania, describes the EU and Romanian strategies on consumer protection and financial literacy, and sets out the key finding and recommendations of the review. Annex one lists all recommendation in the diagnostic review from both volumes and notes which recommendations relate to European Union (EU) Directives or European Commission (EC) recommendations and which are taken from the good practices annex two provides two sample consumer protection code: one for the banking securities, insurance and pensions sectors; and another for non-bank credit institutions. Annex three lists the key lawn and institutions related to financial consumer protection in Romania and annex four indicates which Romanian laws have incorporated the EU Directives on financial consumer protection. Volume two provides: (1) a detailed analysis of the key consumer protection issues in five segments of financial sector - banking, securities, insurance, private pensions, and non-bank credit intuitions; (2) an assessment of the Romanian consumer protection framework and practices compared to the template of good practices; and (4) a brief survey of financial literacy programs worldwide. PublicationRussian Federation : Diagnostic Review of Consumer Protection in Financial Services, Volume 1. Key Findings and Recommendations(Washington, DC, 2009-07) World BankThis paper is a pilot diagnostic review of consumer protection in financial services in the Russian Federation. The review examines financial services in Russia, but also emphasizes the need for a set of good practices, or benchmarks, for use in reviewing consumer protection in financial services in any jurisdiction. This work will prove helpful to the international community, and those in emerging markets. The review finds that most people in Russia do not consider themselves financially literate, and have little understanding of their rights as consumers. The review's objectives are to conduct a review of the existing rules and practices in Russia, compared to international good practices on consumer protection in financial services; provide recommendations on ways to improve consumer protection in financial services in Russia; and refine a set of good practices prepared by the World Bank for assessing consumer protection in financial services. As part of the conclusion, methods for better financial education for consumers, are provided PublicationPrivate Participation in Public Transport in the FSU(World Bank, Washington, DC, 2000-04-01) Gwilliam, Kenneth M.This paper describes and analyses the growth of private sector participation in public transport supply in the countries in the Former Soviet Union in which the World Bank has had recent sector involvement. This includes Russia, Ukraine, Latvia, Kazakhstan, Uzbekistan, Kyrgyz S.R. and Turkmenistan. While this does not covers only 7 out of the 15 independent states comprising the former, this sample of countries accounts for over 96 percent of the land area and 85 percent of the population of the FSU. It also includes a wide spectrum of countries in terms of size, reform philosophy and income levels. The region only contains two megacities with populations in excess of 5 million (Moscow and St. Petersburg) but has many cities in the range of 0.5 to 2.0 million. Privately owned buses already carry the majority of bus passengers in Russian secondary cities and in Kyrgyzstan, probably about half in Uzbekistan, and a growing proportion in all other countries except turkmenistanstan. In Kazakhstan, where some of the competing companies still have majority state ownership the process of privatization is likely to be taken to completion in the near future. That trend, which merely reflects the ownership structure trends world wide is unlikely to be reversed. Only in Latvia, Turkmenistan and Ukraine is there strong resistance to this trend. But that is not to say that the current situation is stable or sustainable. The threats to that sustainable development can be grouped either by country or by issues.