Bosnia and Herzegovina Diagnostic Review of Consumer Protection and Financial Literacy in Banking Services : Volume 1. Key Findings and Recommendations

World Bank

World Bank, Washington, DC

关键词: financial literacy;    financial consumer protection;    legal reform;    disclosure;    dispute resolution;   

RP-ID  :  111311

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This diagnostic study exclusively coversconsumer protection and financial literacy issues in thebanking sector of Bosnia and Herzegovina (BiH). Householdcredit in BiH more than tripled in volume in 2003-2008, andin terms of GDP it expanded from 13 to 26 percent. Foreigncurrency loans represented 10 percent of GDP. Officialstatistics showed growth in the percentage of non-performingloans since 2007. To strengthen consumer protection in thebanking sector in BiH, this review recommends measures infive key areas: legislative and institutional reform,consumer disclosure, business practices of banks, disputeresolution mechanisms, and financial education. The maintasks of this study have been: (1) to review the existingrules and practices in BiH compared to international goodpractices; (2) to provide recommendations on ways to improveconsumer protection and financial capability; and (3) torefine a set of good practices prepared by the World Bankfor assessing consumer protection in banking services,including financial capability. The Review is presented intwo volumes: Volume I describes BiH Government policy forbanking consumer protection, provides the banking sectorstatistics, and sets out the key findings andrecommendations of the Review. Volume II provides anassessment of the BiH consumer protection institutional andlegal framework and practices against the benchmark of GoodPractices for the banking sector.