Regulatory Alerts2024-09-01
Regulation No. 001/2019 on the Protection of Consumers of Financial Products and Services
The Banque de la République du Burundi issued Regulation No. 001/2019 to establish a comprehensive framework protecting consumers of financial products and services. The regulation mandates that financial providers adhere to strict standards of fairness, transparency, and reliability while prohibiting abusive practices and ensuring responsible credit assessment to prevent over-indebtedness. It further outlines specific obligations regarding account management, debt collection procedures, and the handling of consumer complaints to enhance trust and financial inclusion.
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