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10:25 / 25.05.2019 302

Central Bank to penalize banks for violating consumer rights

According to the amendments to the provision on measures and sanctions applied to commercial banks, the Central Bank will receive the right to impose fines on commercial banks, microcredit organizations and pawnshops for violating the rights of consumers of banking services. This is stipulated by the resolution of the Central Bank Board.

The fines amount to 0.1% of the established minimum authorized capital for commercial banks and microcredit organizations (100 million and 2 million soums, respectively, at the time of publication), and for pawnshops - 10 MMW (about 2 million soums).

The decree comes into force on August 25.