MP: Azerbaijan does not need an institution of financial Ombudsman

"I do not think it appropriate to create an institution of financial Ombudsman in Azerbaijan", considers member of the Standing Committee of Milli Mejlis on Economic Policy, MP, former Vice-Premier of Azerbaijan Vahid Ahmadov, commenting on the recommendation of the WB  regional coordinator for Corporate Governance in Europe and Asia Susan Ratlidzh on establishment of a financial institution of Ombudsman in Azerbaijan.

"In Azerbaijan, there are all necessary laws and financial structures and I believe that the establishment of an institution of financial Ombudsman in Azerbaijan is not required", he said.

"We have all the laws on protection of investment funds, protection of bank customers. In Azerbaijan there is also an Audit Chamber, which oversees, checks everything when necessary, then raises some issues to discuss in Parliament. I even have no idea what the institution of financial Ombudsman will do, if it is established", concluded B. Akhmedov.

/Day.Az/