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CONSUMER PROTECTION IN THE PHILIPPINES Adfiap

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CONSUMER PROTECTION IN THE PHILIPPINES Adfiap Powered By Docstoc
					      FINANCIAL PROTECTION AND
CONSUMER PROTECTION – THE CASE
             OF THE PHILIPPINES


                                      JOSELITO S. ALMARIO
      DEPUTY EXECUTIVE DIRECTOR, NATIONAL CREDIT COUNCIL
                        PHILIPPINE DEPARTMENT OF FINANCE




    ACCELERATING FINANCIAL INCLUSION POLICIES IN ASIA AND
                          PACIFIC: AN OPERATIONAL DIALOGUE
        Waikiki Resort Hotel, Honolulu, Hawaii, September 15, 2011
CONSUMER PROTECTION
                 • Financial Transparency and
  DUTIES AND       Full Disclosure
RESPONSIBILITIES • Fair business practice
 OF PROVIDERS
                 • Open to competition



                   • Protection from fraud and
  RIGHTS AND         unfair business practices
 PRIVILEGES OF     • Education and Awareness
    CLIENTS
                   • Redress Mechanisms
THREE-PRONGED APPROACH
THE PHILIPPINE SETTING
MOVING FORWARD
   EXPAND FINANCIAL LITERACY TO ALL
    STAKEHOLDERS AND NOT ONLY FOCUS ON
    CLIENTS
   WIDESPREAD ADOPTION OF ADRs AT THE
    INSTITUTION AND LOCAL GOVERNMENT LEVELS
   BASIC FINANCIAL EDUCATION AT THE PRIMARY
    LEVELS
FINANCIAL
TRANSPARENCY,
EDUCATION AND LITERACY
NOT ONLY EMPOWER THE
CLIENT, THEY EMPOWER
THE PEOPLE

				
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posted:10/9/2012
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