MNB expects financial market to adopt recommendation

Competition

Image by Jessica Fejos

The National Bank of Hungary (MNB) said on Monday that it expects financial institutions to adopt its recommendation regarding the management of clientsʼ complaints without delay.

The MNBʼs Stability Council has approved the recommendation and the central bank expects financial market players to adopt the recommendation from October 21, the MNB announced on its website.

Beyond the regulations set in an MNB decree on the subject, the MNB expects, among others, institutions to set up separate units to fully investigate customersʼ complaints, to inform clients of the procedure involved in processing their complaints and to respond to written inquiries in depth and without unnecessary delay.

The financial institutions are also expected to protect related data, while at the same time keeping a register of the complaints, analyzing recurring problems and regularly informing management of such problems.

ADVERTISEMENT

Equilor analysts forecast 4.5% GDP growth for 2022 Analysis

Equilor analysts forecast 4.5% GDP growth for 2022

Márki-Zay tests positive for COVID-19 Elections

Márki-Zay tests positive for COVID-19

New leasing and sales director at Horizon Development Appointments

New leasing and sales director at Horizon Development

Gov't calls for technical screening of László Papp Arena City

Gov't calls for technical screening of László Papp Arena

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.