The National Bank of the Republic of North Macedonia has expanded its cooperation with the Consumers Organisation of Macedonia by signing an annex to their memorandum, aimed at further strengthening protection for consumers using services of banks and savings houses, including collective protection of financial services users’ rights. The annex commits the two institutions to exchange experience, knowledge and expert support, and envisages amicable dispute resolution where a large number of consumers are harmed by the same financial services providers supervised by the central bank. The release also highlights the central bank’s consumer protection work, including the creation of a dedicated Directorate for Consumer Protection and Financial Education three years ago, targeted inspections in banks focused on consumer protection, and work in an advanced phase on amendments to the Law on Banks. Both institutions confirmed their readiness to implement joint activities adapted to current consumer challenges and needs.
National Bank of the Republic of North Macedonia 2025-01-30
National Bank of the Republic of North Macedonia signs annex with Consumers Organisation of Macedonia to deepen cooperation on banking consumer protection
The National Bank of the Republic of North Macedonia has signed an annex to its memorandum with the Consumers Organisation of Macedonia to enhance consumer protection for users of banks and savings houses. The agreement includes experience exchange, expert support, and amicable dispute resolution for widespread consumer harm. The central bank also continues its consumer protection efforts through inspections and amendments to the Law on Banks.