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BSP Governor Benjamin Diokno

MANILA – Fifty six p.c of the 23,275 whole complaints logged with the Bangko Sentral ng Pilipinas (BSP) in 2020 have been resolved in favor of the monetary shoppers, BSP Governor Benjamin Diokno stated. 


In a digital briefing on Thursday, Diokno stated the favorable decision of the complaints embody reversal of the disputed transactions again to the shoppers’ accounts and settlement of BSP-supervised monetary establishments (BSFIs) to the requests of their purchasers. 


“Thirty 5 p.c of those complaints have been deemed acted upon by the involved BSFIs though case resolutions weren’t shared with the BSP,” he stated. 


Final 12 months, the central financial institution obtained a complete of 9,181 monetary shopper complaints however Diokno stated these are nonetheless being assessed. 


“The complaints decision course of is constrained by the BSP’s restricted authorized authority to adjudicate,” he stated. 


Diokno stated that is the rationale why financial authorities help the passage of the proposed Monetary Client Safety Act, which the Senate accredited on third and remaining studying on Wednesday. 


“The Monetary Client Safety Act will make sure that the BSP has the authorized authority to conduct hearings or claims for funds or requiring reimbursement to shoppers,” he stated. 


Diokno stated the BSP is remitted by Republic Act (RA) No 11211, in any other case referred to as the New Central Financial institution Act, to advertise a broad and handy entry to prime quality monetary companies and to think about the curiosity of the general public. 


Thus, the issuance of, amongst others, the Monetary Client Safety (FCP) Framework in 2019 mandating BSFIs to make shopper safety an integral a part of company governance, danger administration, and tradition.


“The FCP Framework requires BSFIs to do no hurt” and defend shopper rights by observing customer-centric requirements of enterprise conduct,” he added. (PNA)



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