Central Bank fines several banks for violating consumer rights 

The Central Bank of Uzbekistan, following a study of the activities of individual banks in June-July, identified violations of the rights of consumers.

Reportedly, there were commission payments, prohibited by law, in tariffs of the Joint-Stock Commercial Banks “Ipoteka Bank” and “People’s Bank”. Also, there were non-compliance with the law requirements when rendering certain banking services in the activities of the Private Joint-Stock Commercial Bank “Davrbank”. 

In this regard, along with the order to eliminate the revealed violations, penalties were applied to these banks in the prescribed manner, the CB noted.  

According to the revealed fact of unfair practice of calculating contractual commissions in relation to its client by the JSCB “Asaka Bank”, incorrectly calculated 84 million soums was returned to him.

The Central Bank emphasized that it will continue to apply legal measures against credit organizations for violating the law requirements in the field of protecting the rights of consumers of banking services.