A global forum will on Tuesday hear a presentation on the sensitive issue of collection, storage and use of data from consumers, during a virtual discussion organised by Consumers International (CI).
Executive Director of Barbados Consumer Empowerment Network (BCEN), Maureen Holder, is among a list of world-renowned consumer protection proponents who will be making presentations on transparent digital finance for consumers.
Holder told Barbados TODAY she will focus on how the Central Bank of Barbados introduced its market conduct guidelines last year, and how those measures were supposed to improve transparency and accountability with respect to digital online platforms, as well as what redress is available to consumers should something go wrong.
According to the bank, the market conduct guidelines are designed to ensure financial institutions treat customers fairly and with consistency.
These guidelines, issued in July 2024, cover various aspects of financial institution operations, including fees, opening and closing accounts, handling complaints, and accessibility for vulnerable groups.
The guidelines aim to protect consumers and promote a consistent experience across different financial institutions.
“But there are two pieces of important legislation that really govern data privacy, data collection and those types of things, which I will mention,” the leader of the three-year-old consumer advocacy group told Barbados TODAY on Monday.
On Tuesday, CI members and digital finance stakeholders who endorsed its global campaign, launched in April last year, for transparent digital finance for consumers, will learn about key accomplishments in the past year, current efforts, and what’s next.
In what CI is describing as a dynamic and engaging session, “we will share success stories and touch on themes of data-sharing practices, user control, algorithmic bias and accountability.”
In another development, BCEN has also been invited to be part of the CI delegation to the UN Conference on Trade and Development Ministerial Conference in Geneva from July 7 to 11. (EJ)
The post Barbados’ data collection on global forum agenda appeared first on Barbados Today.
