http://www.fsm.am
Protects your rights in financial market
Financial System Mediator Office (hereinafter referred to as Office) is a sovereign self- governed institution founded by the Central Bank of Armenia. The Office was established pursuant to the Republic of Armenia Law on Financial Mediator, adopted June 17, 2008. It started its activities on January 24 of 2009.
This Office has been created on the public-oriented effective principles adopted by this institution incorporating: Impartiality, Transparency, Effectiveness and Fairness.
Financial Mediator is called to protect consumer rights and interests in the financial market, investigate their complaints in a prompt and sound manner, free of any charge, as well as enhance the public confidence towards financial system and promote financial intermediation.

Individual consumers are free to bring complaints/claims against below listed financial organizations operating on the territory of Armenia:

• Banks
• Credit organizations
• Insurance companies
• Insurance brokers
• Investment companies
• Pawnshops
• Foreign currency exchange offices
• Exchange dealer-broker offices
• Money transfer organizations

The office is committed to examine individual consumer complaints-claims if these actions or non-operated actions have been reported beyond August 2, 2008 and when applications on this case have been submitted to the Financial Mediator within not later than six months upon such application is filed with the financial organization. Claims on property should not exceed AMD 10 millions and could not be submitted to the Financial Mediator office unless the financial organization made efforts to settle them.
The customer will not lose anything if ever apply to the Financial Mediator since service it provides is free of any charge and the proceeding expected to go through is simple and time-saving without any complications. It does not require the consumer to have a lawyer, and the decision of The Financial System Mediator will not be binding for the customer and he/she is always free to bring the case to court if does not agree with that decision.
The Financial Mediator is reliable as it is independent and impartial and is funded by the financial organizations, paid legally set high salaries, which is key for taking objective decisions. Periodically published reports are vital for keeping its activities transparent and open. Customers may be invited to hearings where could discuss their cases in an informal way. It often helps the parties to advance their arguments for the case and achieve a mutual agreement.
The Financial Mediator has no right to examine the claim if a court or arbitrage tribunal decision is adjudicated therein or the claim is already suited at the court or arbitrage tribunal.
Complaints/Claims cases Financial System Mediator is eligible to examine:

• Consumer initiated money transfer and incurred loss due to delays;
• Consumer’s car was insured; it was damaged in crush but the insurance company refused to pay the compensation;
• Consumer discovered that a certain amount was charged from his/her credit card or account about which he/she was ignorant;
• Consumer thinks that the credit organization or bank has calculated wrong the interest payable for loan or monthly repayment rate.

Complaints/Claims cases Financial System Mediator is not eligible to examine:

• Consumer claims the bank to extend interest repayment period under loan contract;
• Consumer acts as an aggrieved third party to insurance accident and claims compensation from insurance company, having no binding relation thereto;
• Credit organization or bank refuses to loan the consumer;
• Consumer is a depositor, debtor or another related person to a bankrupt organization.


Mediator: Piruz Sargsyan
Address: “Erebuni Plaza” 4th floor, Room 411, Business Center, 26/1 St.Vazgen Sargsyan, Yerevan- 0010
Telephone: (10) 58 23 22, 58 23 21
Fax: (10) 58 24 21
Email: info@fsm.am
Website: http://www.fsm.am