Africa-Press – Mauritius. The Office of the Ombudsperson for Financial Services, has, during the year 2021/2022, received 682 complaints, adding to the 888 outstanding complaints as at 1st July 2021, and resolved or closed 746 complaints. Some 824 complaints were in process or under investigation as at 30 June 2022.
These statistics were announced by the Ombudsperson for Financial Services, Dr Mitrajeet Dhaneshwar Maraye, this morning, in Ebène, during a press conference presenting the report of his Office for the financial year 01 July 2021 to 30 June 2022.
Dr Maraye informed that during the period 01 July 2021 to 30 June 2022, 130 complaints were received against banks, 393 against insurance companies, and 159 against financial institutions.
The Ombudsperson affirmed that transparency, integrity and accountability were the watchwords and characteristics that defined the functions and operations of his Office.
“Discipline cultivates excellence in an enabling environment where ethics, transparency and accountability prevail,” he stressed. The complaints resolution process was, moreover, detailed by Dr Maraye.
He recalled that his Office only intervened when the consumer was not satisfied with the outcome of the complaint made against the concerned financial organisation. Hence, when the complaint is termed valid as it met the legal and procedural requirements, an investigation is conducted.
After completion of the investigation, either a decision is issued, namely in clear cut cases, or the relevant parties are summoned for a hearing, and, if necessary, a mediation.
Then, the Ombudsperson issues a motivated decision to both parties. If the complaint is upheld, an award is issued or directives are given to the financial institution. When a complaint is rejected by the Office, the consumer may apply for a Judicial Review before the Supreme Court.
The signature of a Memorandum of Understanding between the Office of the Ombudsperson for Financial Services and the Competition Commission, in May this year, was also deemed, by Dr Maraye, as one of the main achievements of 2022.
He expressed the wish that similar meaningful collaboration could be established with other key institutions such as the Financial Services Commission, the Bank of Mauritius, the Mauritius Police Force, the Financial Services Fund and the Financial Services Institute.
While saluting the efforts and hard work of the staff of his Office, the Ombudsperson deplored, too, the lack of employees to serve in the Technical Department.
He informed that Officers from the Financial Services Commission were presently on secondment at his Office and that the shortage in human resources inevitably led to delays in processing, investigating, hearing and providing a decision, which in turn resulted in a backlog of more than 800 cases.
Dr Maraye was of the view that with the recruitment of the qualified Officers, the work could be handled to the aspired timescales, quality and standards.
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