Establishing a Financial Services Ombudsman in Mongolia: Experiences and Lessons from Armenia, Australia, and Singapore

Publication | June 2023
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Alternative dispute resolution in the form of a financial ombudsperson, mediator, or arbiter adds value to the financial services sector.

It can provide redress for high volumes of consumer complaints, establish rules of conduct for financial service providers, and improve the sector’s overall health and sustainability. This paper sets out insights from three long-standing financial alternative dispute resolution systems in Armenia, Australia, and Singapore. It outlines how the different systems work and highlights lessons for countries interested in developing similar arrangements to strengthen financial consumer protection.

Contents

  • Executive Summary
  • Introduction
  • Comparison of Country Systems and Features
  • Conclusion
  • Appendix

Additional Details

Authors
Type
Series
Subjects
  • Finance sector development
Countries
  • Armenia
  • Mongolia
  • Singapore
Pages
  • 32
Dimensions
  • 8.5 x 11
SKU
  • WPS230219-2

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