The Necessity of Setting up A Banking Commission for the Protection of Financial Consumers in Republic of Congo -Lesson from Chinese Banking Commission Regulatory


Since the subprime crisis of 2008, financial consumer protection has become a hot topic all over the world. This is how, in certain countries, governments are still looking for an appropriated mechanism to improve the protection of financial consumers. It is the case of the Republic of Congo where financial consumers are defenseless. They are victims of bad practices from financial institutions. The embezzlements of depositor funds is currently a common phenomenon due to the shortcomings encountered by the Banking Commission of Central Africa. This situation has created a confidence crisis between financial consumers and financial institutions. Nowadays, people are keeping money in households and using informal means to get financial services. Which is causing significant economic and social consequences. This is how we have oriented our research study on the legal mechanisms established by the Chinese authorities through the China’s Banking Commission Regulatory set-up in 2003. In this paper, the authors present the vulnerable state of financial consumers in Congo and demonstrate the inefficiency of the Banking Commission of Central Africa, show the progresses made by the China Banking Commission Regulatory, and recommend the setting-up of such a commission in Republic of Congo.

Keywords: Consumer, Financial Consumers, Protection, financial institutions

Article Review Status: Published

Pages: 21-36 (Download PDF)

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