World Bank2014-06-122014-06-122014-03https://hdl.handle.net/10986/18658The 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 IGOACCESS POINTSACCOUNT HOLDERACCOUNT HOLDERSACCOUNTABILITYADVERTISEMENTADVERTISEMENTSAFFORDABILITYAGRICULTURAL CREDITAPPLICATION FORMAPPLICATION PROCESSASSET MANAGEMENTASSET MANAGEMENT COMPANIESATMAUTO LOANSAVERAGE BALANCEAWARENESS CAMPAIGNSBAD CREDITBANK ACCOUNTBANK ACCOUNTSBANK BRANCHESBANK CREDITBANK CUSTOMERBANK CUSTOMERSBANK FOR INTERNATIONAL SETTLEMENTSBANK LOANSBANKING INDUSTRYBANKING PRODUCTBANKING PRODUCTSBANKING REGULATIONBANKING SECTORBANKING SUPERVISIONBANKING SURVEILLANCEBANKRUPTCYBANKRUPTCY LAWSBANKSBEST PRACTICESBORROWERBORROWINGBROCHURESBUSINESS PLANSCALCULATIONCAPITAL MARKETSCAPITAL REQUIREMENTSCASH ADVANCESCASH RESERVECDSCHECKING ACCOUNTCHECKSCOLLATERALCOLLECTIVE INVESTMENT SCHEMESCOMMERCIAL BANKSCONSUMERCONSUMER COMPLAINTSCONSUMER COUNCILSCONSUMER CREDITCONSUMER FINANCECONSUMER LOANSCONSUMER ORGANIZATIONSCONSUMER PROTECTIONCONSUMER PROTECTION LAWSCONSUMERSCONTINGENCYCONTRIBUTIONSCREDIT BUREAUCREDIT BUREAUSCREDIT CARDCREDIT CARD APPLICATIONCREDIT CARD DEBTCREDIT CARD ISSUERSCREDIT CARD PURCHASESCREDIT CARDSCREDIT GUARANTEECREDIT GUARANTEE FACILITYCREDIT INFORMATIONCREDIT INFORMATION BUREAUCREDIT LIMITCREDIT POLICYCREDIT PRODUCTCREDIT PRODUCTSCREDIT REPORTCREDIT REPORTINGCREDITORSCREDITSCREDITWORTHINESSCURRENT ACCOUNTSDEBT COLLECTIONDEBT COLLECTORDEBTORDECEPTIVE MARKETINGDEFAULTERSDEPOSITDEPOSIT ACCOUNTSDEPOSITORDEPOSITORSDEPOSITSDEVELOPMENT FINANCEDEVELOPMENT FINANCE INSTITUTIONSDISCLOSURE REQUIREMENTSDISPOSABLE INCOMEELECTRONIC BANKINGELECTRONIC COMMERCEELECTRONIC FUNDSELECTRONIC FUNDS TRANSFERELECTRONIC FUNDS TRANSFERSELECTRONIC TRANSFERSEMPOWERMENTENFORCEMENT AGENCIESEXCHANGE COMMISSIONEXCHANGE RATESFAMILY MEMBERSFEES ON DEPOSITFINANCE LITERACYFINANCESFINANCIAL ACTIONFINANCIAL CONSUMERFINANCIAL CONSUMERSFINANCIAL DATAFINANCIAL EDUCATIONFINANCIAL EDUCATION PROGRAMSFINANCIAL INSTITUTIONFINANCIAL INSTITUTIONSFINANCIAL LITERACYFINANCIAL PRODUCTSFINANCIAL SAFETYFINANCIAL SECTORFINANCIAL SECTOR ASSESSMENTFINANCIAL SERVICEFINANCIAL SERVICE PROVIDERSFINANCIAL SERVICESFINANCIAL SYSTEMFINANCIAL TRANSACTIONSFINANCING FACILITIESFORECLOSED PROPERTYFOREIGN EXCHANGEGENERAL PUBLICGUARANTEE SCHEMESHOUSINGHOUSING LOANSINACTIVE ACCOUNTINCOMEINDEBTEDNESSINFORMATION ON CUSTOMERSINFORMATION REQUIREMENTSINFORMATION SYSTEMINFORMATION TECHNOLOGYINFORMATION TO CONSUMERSINITIAL PUBLIC OFFERINGSINSTALLMENTINSTITUTIONAL CAPACITYINSURANCEINSURANCE COMPANYINSURANCE POLICYINTEREST CHARGESINTEREST COSTINTEREST COSTSINTEREST RATEINTEREST RATESINTERNATIONAL BANKLEGAL FRAMEWORKLEGAL REMEDIESLEGISLATIONLIABILITYLIFE INSURANCELOANLOAN AGREEMENTLOAN DOCUMENTATIONLONG-TERM SAVINGSLOWER INTEREST RATEMANDATESMARKETINGMERCHANTMFIMICROFINANCEMICROFINANCE INSTITUTIONSMINIMUM PAYMENTMINIMUM RATE OF RETURNMONTHLY INCOMEMONTHLY PAYMENTMONTHLY PAYMENTSMORTGAGEMUTUAL FUNDNATIONAL INSURANCENONPERFORMING LOANSPAYMENT SYSTEMSPERSONAL BANKRUPTCYPOSSESSIONSPREPAYMENT PENALTIESPROTECTION OF CONSUMERSPRUDENTIAL REGULATIONSPURCHASESRATE OF INTERESTRATES OF RETURNREGULATORY AUTHORITYREGULATORY FRAMEWORKREMITTANCEREMITTANCESREPAYMENTREPAYMENT CAPACITYRESERVE REQUIREMENTSRESPONSIBILITIESRETURN ON SAVINGSRISK MANAGEMENTSALESALESSALES TACTICSSECURITIESSENIORSLRSTATE BANKSTATE BANK OF PAKISTANSUBSIDIARYSUPPORT PROGRAMSTRANSACTIONTRANSACTION FEESTYPES OF CONSUMERTYPES OF LOANSUNIONVARIABLE-RATE LOANSYEARLY STATEMENTYOUNG ADULTS10.1596/18658