World Bank2014-06-122014-06-122014-03https://hdl.handle.net/10986/18657The diagnostic review for Consumer Protection and Financial Literacy (CPFL) provides a detailed assessment of the institutional, legal, and regulatory framework in four segments of the financial sector: banking, microfinance, securities, and insurance. The review took place in response to a request for World Bank technical assistance in the field of financial consumer protection made by Pakistan's Ministry of Finance (MoF), the State Bank of Pakistan (SBP), and the Securities and Exchange Commission of Pakistan (SECP). The review consists of two volumes. Volume one summarize the key findings and recommendations of the review and Volume two presents a detailed assessment of each financial segment compared against the good practices for financial consumer protection. The key findings and recommendations in volume one cover five areas: (i) the institutional, legal, and regulatory framework for consumer protection; (ii) disclosure; (iii) business practices; (iv) dispute resolution mechanisms; and (v) financial education. Priority recommendations are outlined in table one; a more detailed list of recommendations is included in annex one.en-USCC BY 3.0 IGOASSET MANAGEMENTATMATMSAWARENESS CAMPAIGNSBANK ACCOUNTBANK BRANCHESBANK CUSTOMERSBANK LENDINGBANKERS ASSOCIATIONBANKING INDUSTRYBANKING PRODUCTSBANKSBASIC FINANCIAL LITERACYBASIC FINANCIAL TOPICSBENEFICIARIESBORROWERBORROWINGBROKERAGEBROKERAGE FIRMSBUDGETINGBUSINESS PRACTICESCALCULATIONCAPITAL MARKETCAPITAL MARKET INVESTORCAPITAL MARKETSCASH FLOWCENTRAL DEPOSITORYCODE OF CONDUCTCODES OF CONDUCTCOMMERCIAL BANKSCOMMODITIESCOMMODITYCOMPREHENSIVE FINANCIAL EDUCATIONCONFIDENCE OF INVESTORSCONFIDENTIALITYCONFLICTS OF INTERESTCONSUMERCONSUMER COMPLAINTSCONSUMER CREDITCONSUMER DISCLOSURECONSUMER FINANCECONSUMER ISSUESCONSUMER LENDINGCONSUMER PROTECTIONCONSUMER PROTECTION LAWSCONSUMER PROTECTION MEASURESCONSUMER RIGHTSCONSUMER UNDERSTANDINGCONSUMERSCONTRIBUTIONSCREDIT CARDSCREDIT PRODUCTSCREDITWORTHINESSDAY-TO-DAY MONEY MANAGEMENTDEALING WITH BANKDEBTDEBT COLLECTIONDEBT MANAGEMENTDECEPTIVE PRACTICESDELIVERY MECHANISMSDEPOSITDEPOSIT INSURANCEDEPOSITSDEVELOPMENT FINANCEDISCLOSURE DOCUMENTSDISCLOSURE REQUIREMENTSDISCLOSURE STANDARDSDISPUTE RESOLUTIONEDUCATION PROGRAMEDUCATIONAL MATERIALSEXCHANGE COMMISSIONFAMILY MEMBERSFINANCE PRODUCTSFINANCIAL ARRANGEMENTSFINANCIAL CONCEPTSFINANCIAL CONSUMERFINANCIAL EDUCATIONFINANCIAL EDUCATION INITIATIVESFINANCIAL EDUCATION PROGRAMFINANCIAL EDUCATION PROGRAMSFINANCIAL EXCLUSIONFINANCIAL INSTITUTIONFINANCIAL INSTITUTIONSFINANCIAL INVESTMENTSFINANCIAL LITERACYFINANCIAL LITERACY CURRICULUMFINANCIAL LITERACY INITIATIVESFINANCIAL LITERACY PROGRAMFINANCIAL PRODUCTFINANCIAL PRODUCTSFINANCIAL REGULATORSFINANCIAL SECTORFINANCIAL SECTOR POLICIESFINANCIAL SECTOR POLICYFINANCIAL SECTORSFINANCIAL SERVICEFINANCIAL SERVICE PROVIDERSFINANCIAL SERVICESFINANCIAL SERVICES AUTHORITYFINANCIAL SYSTEMFINANCIAL TOOLSFORMAL EDUCATIONFRAUDFUTURESGENERAL POPULATIONGENERAL PUBLICHEALTH INSURANCEINFLATIONINFORMATION TO CONSUMERSINSURANCEINSURANCE COMPANIESINSURANCE INDUSTRYINSURANCE MARKETSINSURANCE POLICYINSURERINSURERSINTEREST RATEINTEREST RATESINTERNATIONAL BANKINTERNATIONAL DEVELOPMENTINVESTINGINVESTMENT ACCOUNTINVESTMENT ACCOUNTSINVESTMENT DECISIONINVESTMENT POLICIESINVESTOR EDUCATIONINVESTOR PROTECTIONJURISDICTIONLACK OF INFORMATIONLARGE BANKSLEGAL ENVIRONMENTLEGAL FRAMEWORKLEGAL SYSTEMLIABILITYLIFE INSURANCELOANLOAN APPLICATIONLOAN OFFICERSLOAN UNDERWRITINGLOW-INCOMELOW-INCOME COUNTRIESLOWER-INCOME INDIVIDUALSMARKET PARTICIPANTSMARKETINGMASS MEDIAMEDIA CAMPAIGNMEDIA CAMPAIGNSMEDIUM ENTERPRISEMEDIUM ENTERPRISESMICROFINANCEMOBILE BANKINGMOBILE PHONEMOBILE PHONESMONTHLY INCOMEMORTGAGESMUTUAL FUNDMUTUAL FUNDSNEW PRODUCTSPENSIONSPHONE BANKINGPORTFOLIOPOTENTIAL INVESTORSPOVERTY ALLEVIATIONPRIVACYPRIVATE SECTOR DEVELOPMENTPROBABILITYPROFESSIONAL ASSOCIATIONSPROFIT SHARINGPRUDENT FINANCIAL DECISIONSPUBLIC AWARENESSPUBLIC CONFIDENCEQUESTIONNAIRERAPID GROWTHREGISTRATION OF SECURITIESREGULATORREGULATORY BODIESREGULATORY ENVIRONMENTSREGULATORY FRAMEWORKREGULATORY FRAMEWORKSREGULATORY GAPSREGULATORY REQUIREMENTREPUTATIONRESPONSIBILITIESRETIREMENTRETIREMENT AGERISK MANAGEMENTSAFETY NETSALESALESSAVERSSAVINGSSAVINGS PROGRAMSSECURITIESSECURITIES MARKETSECURITIES MARKETSSENIORSOURCE OF INFORMATIONSTAKEHOLDERSTAKEHOLDERSSTATE BANKSTOCK EXCHANGESTOCK EXCHANGESSUPERVISORY AGENCIESTAXTECHNICAL ASSISTANCETOTAL COSTSTRADESTRANSPARENCYTRUST FUNDTYPICAL INVESTORUNEXPECTED EXPENSESVALUABLEVALUATIONWITHDRAWAL10.1596/18657