Financial Services Committee involvement in a meeting of Parliamentary Commission of economy, budget and finance

Financial Services Committee involvement in a meeting of Parliamentary Commission of economy, budget and finance

• 23.05.2013

Financial Services Committee representatives participated on May 21 in a meeting organized by Parliamentary Commission of economy, budget and finance to discuss about draft law on consumer credits. This draft law will introduce unified rules for all financial companies with regard to protection of consumers of financial services. For instance, the law will establish a requirement to calculate and inform consumers about effective annual interest rate, but also other requirements related to financial products, financial services publicity, post contractual relationships, etc.

Previously Financial Services Committee played an active role in review of this important draft law, coming with several position papers designed to correctly implement European Directive, but also to preserve a proper balance between rights of consumers of financial services and financial companies. Committee members will continue their efforts at the level of Parliamentary commission.

If you would like to know more details about this meeting, please contact Serghei Toncu, Deputy Executive Director, at 211-781 or sergheitoncu@amcham.md.