In the dynamics initiated by the Central Bank of West African States ( Bceao ) since 2018 through the week of financial inclusion, the Observatory of the quality of financial services (Oqsf) organized yesterday, Tuesday , a training and awareness-raising workshop for consumer associations. A meeting during which an Oqsf survey reveals the low level of education correlative to the lack of information and the high rate of credit.

Transparency in the pricing of financial services and the lack of contractual information from account agreements hinder financial and social inclusion policies, protection and financial education of clients. This is revealed by a survey by the Observatory of the quality of financial services (Oqsf) brought to the attention of the public yesterday, Tuesday, November 24, during a training and awareness session for consumer associations. Thus according to the study, "22.9% of customers questioned are unaware of the debit interest rates which are applied to their loans". For clients of the microfinance commonly known as Decentralized Financial Service, “14.3% did not receive information on the Global Effective Rate (Teg) when granting the loan by their Sfd”. Thus, it appears that 32.1% declare that the Teg has been communicated to them (in a single figure not detailed). However, the poor quality of the information provided on the Teg is "deplored by 27.5% of members who consider the information provided to be incomplete". Still, according to the survey, 40.6% of customers believe that they did not receive prior information on the pricing conditions of their bank when entering into a relationship. To this lack of information, a proportion of "17.9% of customers who received a loan from banks said they were not informed before signing their loan agreement". Faced with all these limits, the executive secretary of the Oqsf Habib Ndao wished for “a gradual withering away of financial disputes, easier access to credit at reasonable pricing and more regular repayment of credits granted for a robust financial service”. Warmly welcoming the participation of the actors, he will tell the consumerists to have a better understanding "of the contractual information in the customer relationship and to formulate, if necessary, the financial profession (banks, Sdf), proposals relating to the strategy of improvement of the customer relationship. Astou Lô Ndiaye, representative of the national director of the Central Bank of West African States ( Bceao ) , said the whole availability of the Bceao to support the dynamics of financial inclusion initiated since 2018 through the week of the financial inclusion by the Issuance Institute common to the States of the West African Monetary Union (Umoa). Momar Diop, president of the Orientation Council of the Oqsf, for his part, returned to the missions of the Observatory which, for him, will make it possible to boost the overall rate of use of financial services and to strengthen the quality of the information and supervision for the benefit of customers. JEAN-PIERRE MALOU