House Finance Committee to discuss government debt reform bills

The House Finance Committee on Monday will examine two government bills aimed at upgrading the current debt confirmation mechanism of the Financial Ombudsman, including provisions for debt restructuring and enforcement of his decisions.

The bills aim to strengthen the role of the Financial Ombudsman by making his decisions binding, allowing faster and more effective protection for debtors while relieving court workloads. The legislation also seeks to enhance the insolvency framework...