A week ago, the Group of Non-Banking Financial Companies took a significant step toward improving the market and protecting consumers by signing a new Code of Ethics. In an interview with Bloomberg Adria, the president of the Group, Nikola Joshevski, highlighted the key benefits of adopting this document, emphasizing the industry’s commitment to responsible and transparent operations.

“With the Code of Ethics, we are setting higher standards of conduct that go beyond the legal minimum,” said Joshevski. “Our goal is to strengthen public trust in the non-banking financial sector and ensure maximum protection for every client.”

The new Code is based on five core principles: transparency, integrity, professionalism, confidentiality, and accountability. In practice, this means that clients will receive clear, accurate, and complete information about all products and services, with no hidden fees or ambiguous terms. Joshevski stressed that the Code is not just a declarative document. A newly established Ethics Commission will be responsible for ensuring consistent application, reviewing all complaints and grievances from the public. “Each financial company that signs the Code commits to fully respecting its provisions. Otherwise, appropriate measures are foreseen, including the possibility of being excluded from Group membership,” the president explained.

This step comes in response to market needs and aims to improve the customer experience, increase financial literacy, and strengthen the social responsibility of companies in this fast-growing sector. So far, 22 out of 27 licensed non-banking financial companies in the country have joined the Code, which sends a clear signal of broad support for the initiative by the member companies of the Group within the Economic Chamber.

With the introduction of the Code of Ethics, non-banking financial companies are demonstrating maturity and readiness for self-regulation, putting the client first and laying the foundation for a sustainable and healthy development of the financial market in North Macedonia.