Publication: Russian Federation : Diagnostic Review of Consumer Protection in Financial Services, Volume 1. Key Findings and Recommendations
Date
2009-07
ISSN
Published
2009-07
Author(s)
World Bank
Abstract
This 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
Citation
“World Bank. 2009. Russian Federation : Diagnostic Review of Consumer Protection in Financial Services, Volume 1. Key Findings and Recommendations. © Washington, DC. http://openknowledge.worldbank.org/entities/publication/7131c66c-72a0-5ee8-8ba0-7cbf12bcd62b License: CC BY 3.0 IGO.”