Governor announces Draft-Law on Financial Ombudsman that will act upon the complaints of the citizens and will protect their rights


The protection of the users of the financial services is high in the priorities of the National Bank. By strengthening the regulation, with the new Law on Payment Services and Payment Systems, but also with the Law on Financial Ombudsman, which would establish a special institution that will act on citizens’ complaints, a framework for stronger protection of consumer rights will be built, said the Governor of the National Bank Anita Angelovska-Bezhoska.

Angelovska-Bezhoska in an interview with the national service MTV points out that although the National Bank does not have an explicit legal mandate for consumer protection, still as a socially responsible institution it takes more measures in this segment.

“Those activities focus on two segments. One segment is financial education, in order to increase the awareness of users of financial services, about their rights and obligations, as well as getting acquainted with various financial products for better information and making the right decisions. The second segment is to improve and strengthen the regulatory framework for consumer protection. The first concrete step in this direction is the Law on Payment Systems, which will provide a significant qualitative leap in the protection of consumer rights in the use of payment services,” said the governor.

Angelovska-Bezhoska points out that a new activity, which has recently started within the central bank, and on which the bank will work together with other financial regulators, is the preparation of a law on financial ombudsman, i.e. financial ombudsman. The idea of ​​this law is to establish a special institution that will act on the complaints of the citizens and will have an explicit mandate to protect the interests of the citizens.

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