Published on March 21, 2016

Peer review of ADR mechanism for CIS Kenya

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In 2012, the World Bank published a report highlighting the fundamentals of financial ombudsmen when resolving disputes between consumers and financial business. The International Network for Financial Ombudsman (INFO) used these fundamentals and created guidelines and principles for ombudsman that serves as international best practice for Financial Ombudsman and/or ADR schemes, and these factors formed the platform in evaluating TC. The report outlines the key issues to be borne in mind in creating a financial ombudsman, or developing an existing one – including governance, funding, coverage, procedure, accessibility, transparency and accountability.

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