Saturday, April 05, 2003

Accessibility of financial services...

Last week, the Ministry of Finance issued a letter on the 1st of April (Fool's day.... not a smart day to write letters to Parliament) about the accessibility of financial services. Bottom line is that the Foundation for Economic Research (SEO) has found five issues to be most important to consumers:

- physical availability of bank branches and services,

- too much credit,

- intransparency of insurance products,

- fear of genetic research,

- unavailability of insurance services to some groups of consumers.

The Minister concludes that, given the report of SEO and the current policy measures, no specific extra attention is required.