Dissemination Event on the Diagnostic Review of Consumer Protection and Financial Capability

The dissemination event dedicated to the Diagnostic Review of Consumer Protection and Financial Capability report for Romania is organized jointly by the World Bank and the Romania Banking Institute on October 20, 2009. 

The Diagnostic Review on Consumer Protection and Financial Literacy in Romania is the fourth in a World Bank-sponsored program to assess consumer protection and financial literacy in developing and middle-income countries. Other reviews of consumer protection and financial literacy have been prepared for the Czech Republic, Slovakia, Azerbaijan, Croatia, the Russian Federation, Lithuania, Romania, Bulgaria and Latvia. The set of published reviews can be downloaded at www.worldbank.org/eca/consumerprotection.  The objectives of this Review was  three-fold to: (1) refine a set of good practices for assessing consumer protection and financial literacy; (2) conduct a review of the existing rules and practices in Romania compared to the good practices; and (3) provide recommendations on ways to improve consumer protection and financial literacy in Romania.

The Diagnostic Review was prepared at the request of the National Authority for Consumers' Protection (ANPC), whose request was endorsed by the Ministry of Public Finance. Support was provided by the National Bank of Romania (BNR), which supervises banks and non-bank credit institutions. Further assistance was given by the supervisory commissions for securities (CNVM), insurance (CSA) and private pensions (CSSPP).