Regulatory Alerts2021-03-03
Law No. 017/2021 on Financial Service Consumer Protection
The Parliament of Rwanda enacted Law No. 017/2021 to establish comprehensive protections for financial service consumers by mandating fair, transparent, and non-discriminatory treatment from providers and their representatives. The legislation requires clear disclosure of service costs, interest calculation methods, and contractual terms while guaranteeing consumer rights to contract termination, cooling-off periods, and data protection. It further empowers the Regulatory Authority to enforce compliance through administrative sanctions and establishes a dedicated committee for transparent complaint resolution.
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