The Effectiveness of Legal Regime and Challenges in Protection Of Consumer Rights in Uganda.

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Kampala International University, School of law.
A consumer protection framework generally includes the introduction of greater transparency and awareness about the goods and services, promotion of competition in the marketplace. prevention of fraud, education of customers, and elimination of unfair practices. Consumer protection frameworks in the financial. service industry are evolving as products become more complex and a greater number of people rely on financial services. An effective consumer protection framework includes three complementary aspects. First, it includes laws and regulations governing relations between service providers and users and ensuring fairness. transparency and recourse rights. Consumer protection and financial literacy can contribute to improved efficiency, transparency. competition, and access in retail financial markets by reducing information asymmetries and power imbalances between providers and users of financial services. Financial consumer protection has gained significance in policy debates, especially since the onset of the financial crisis in 2008. This paper presents the results of a survey on consumer protection regulations in country. Qualitative research is used in several academic disciplines, including political sc1ence, sociology, education and psychology. According to Peshkin (200: 134) in Patton. it usually serves one or more of a set of four purposes: description, interpretation and evaluation of a hypothesis or problem. The findings indicate that although consumer protection legislation is in place in the majority of countries, these do not necessarily address the issues specific to financial services. There is some evidence that enforcement powers and monitoring capacity are limited in many countries. obstructing the effective implementation of the existing regulations. Furthermore, independent third party dispute resolution mechanisms are ~ot widespread. The paper also compiles comprehensive information on laws and regulations relevant for consumer protection and discusses a number of challenges related to empirical analyses of financial consumer protection to enable cross-country comparison.
A research report submitted to the Faculty of Law in Partial Fulfillment of the Requirement for the Award of Bachelors Degree in Laws of Kampala International University
Consumer Rights, Effectiveness, Legal Regime, Challenges, Uganda