Regulatory Alerts2024-09-01
Regulation No. 001/2019 on the Protection of Consumers of Financial Products and Services
The Bank of the Republic of Burundi issues Regulation No. 001/2019 to establish a comprehensive consumer protection framework for all licensed financial products and services providers and their registered agents. The regulation mandates strict standards for fair treatment, transparency, product reliability, and responsible lending to prevent consumer over-indebtedness while prohibiting deceptive practices, unfair debt collection, and discriminatory conduct. It further requires providers to implement robust account management protocols, maintain accurate consumer records, and establish formal complaint resolution procedures to enhance financial sector trust and promote inclusive growth.
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