Yerevan/Mediamax/. In 2011, about AMD 32 million was compensated to consumers through the Office of Financial Ombudsman of Armenia.

Armenian Ombudsman Piruz Sargsyan said this today during the second annual conference “The Institute of financial mediation aimed at the strengthening of public confidence and growth of financial mediation”.

Armenian Central Bank (CB) Chairman Artur Javadyan said that the Office of the Financial Ombudsman, which was founded 2 years ago, is the only one in the CIS which has the right to solve complaints against all financial institutions of the country, and the Armenian experience may be successfully used in other countries too.

“The number of complaints the Office of Financial Ombudsman received reaches 1630, and the volume of compensations makes AMD 89 million,” Artur Javadyan said.

Piruz Sargsyan noted that the biggest number of complaints was registered in the third quarter of 2011.

“About 70% of cases we have considered were solved in favor of the consumers, as a result of which about AMD 32 million was compensated,” said Piruz Sargsyan.