Consumer Hub

Consumer Protection Framework

This Framework sets out minimum regulatory standards for consumer protection expected in terms of section 4C of the Banking Act [Chapter 24:20].

The objectives of the Consumer Protection Framework are to: -

(a) promote consumer rights by setting out minimum standards for regulated entities in achieving consumer protection;

(b) ensure availability of consumer redress and development of formal or informal robust grievance redress mechanisms for handling customer grievances that are fair, expeditious, inexpensive and accessible;

(c) ensure fair and equitable business practices, protecting interests of both consumers and regulated entities; and

(d) foster customer confidence and trust in the banking sector.

Download the Consumer Protection Framework [.pdf | 745KB]