2010-03-15
WORLD CONSUMER RIGHTS DAY
Jamaica joins over 200 countries worldwide in observing World Consumer Rights Day – today, Monday March 15th. This year’s theme “Our money, our rights,” focuses primarily on consumer-related issues in the financial sector.
In a message marking the Day, Minister of Industry, Investment & Commerce, Karl Samuda said the Consumer Affairs Commission stands ready to help Jamaicans understand their rights and obligations when accessing products and services in the banking and credit sector, in order to make informed decisions.
“An informed consumer will more likely raise appropriate questions about penalty fees for paying off loans early; issues regarding mortgage rates; and security matters such as prevention of identity theft”, the Minister asserted. He noted that hidden bank charges and exorbitant interest rates are some of the practices that flourish in an environment of inadequate information.
The Industry & Commerce Minister cautioned consumers to conduct their own due diligence regarding transparency of transactions before investing funds. At the same time he urged the financial sector to have more meaningful discussions with consumers to eliminate the possibility of complications in financial transactions.
Minister Samuda pledged Government’s continued commitment in ensuring that its policies facilitates fair treatment of all Jamaicans in order to guarantee growth and development in all sectors.
Minister Karl Samuda's World Consumer Rights Day Message