Yerevan/Mediamax/. In January-August 2011, the Office of the financial Ombudsman received 525 complaints against financial organizations.

Financial Ombudsman of Armenia Piruz Sargsyan said today that 80 complaints have been examined, 68% of which have been solved in favor of citizens, who received compensation in the amount of AMD 29mln, Mediamax reports.

 According to Piruz Sargsyan, 18 out of 80 complaints referred to loan deals, 4- to deposit operations, 18- to operations with bank accounts and plastic cards, 6- to money transfers, 15- to motor vehicle insurance deals and 19- to other insurance services.

According to Piruz Sargsyan, the investigation of disputes between the citizens and financial organizations stimulates the growth of service quality.

“For instance, many complaints on loan deals referred to the sale of citizens’ pledged property without giving relevant notice to the owners. As a result investigation and discussion of complaints with financial organizations this practice has been completely excluded,” Piruz Sargsyan said.