The diagnostic review of Malawi’s financial consumer protection institutional, legal and regulatory framework followed from the Malawi Financial Sector Development Strategy 2010 – 2011. The strategy identified the need for an effective consumer protection framework and targeted policy interventions on financial literacy as key areas to promote financial inclusion, deepening and competitiveness.
The review covered the banking, non-bank credit institutions, securities and insurance sectors. An analysis was also made of mobile banking, credit reporting and private pensions services. The review was based on the version of the World Bank’s Good Practices on Financial Consumer Protection, which was current at the time. The implementation of key recommendations was subsequently covered in the Financial Sector Assistance Program for Malawi 2012 – 2016.
Ros was a key member of the review team. She was responsible for analysis of the insurance, securities and private pensions sectors. Whilst a Senior Financial Sector Expert at the World Bank, Ros also played a lead role in overseeing the implementation of FSTAP recommendations relating to financial consumer protection and financial literacy, and providing peer reviews of key project documents.