CONCLUSION

This guideline note provided policy guidance for an effective redress mechanism that guarantees a robust, effective, and fair consumer protection regime that promotes consumer confidence in financial services and assists regulators in earning the trust and respect of FSPs.

In that, it represents a key milestone in developing an effective consumer protection regime. Given the fast-paced changing landscape of digital financing, regulators and FSPs will need to be able to anticipate future associated risks and ensure a sustainable and effective help and redress mechanism.

The document hinges on guidance pillars that may be used for AFI member institutions and other stakeholders looking at implementing an effective redress mechanism.