UAE Central Bank ramps up clampdown on banks mis-selling consumer and investment products - The National:
"The Central Bank of the UAE has stepped up action against banks following complaints of mis-selling on consumer and investment products, a senior executive at the institution said on Tuesday, Nariman Alawadhi, chief manager at the Central Bank, said that 100 clients have had money returned to them by banks thanks to the institution's clampdown. “We get a lot of complaints about investment products. The consumer is ignorant and does not know much; at the same time the bank is not clear and does not tell you if this product is good for you or not,” she told delegates at a business platform on financial literacyamong the nation's youth, hosted by the Emirates Foundation."
'via Blog this'
No comments:
Post a Comment