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Ministry seeks to protect bank clients

THE SLOVAK Finance Ministry will introduce draft measures designed to improve the protection of bank clients, said Finance Minister Ivan Mikloš on August 22.

"By these measures we intend to improve awareness about bank products and thus increase the level of transparency about these products. Ultimately this should lead to greater competition among banking institutions," he said.

Mikloš criticized a proposal by opposition party Smer to raise the taxes of financial organizations as "populist and incompetent", the SITA news agency reported.

Mikloš said Smer's proposal would cause banks to transfer their additional costs onto clients.

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