BUSINESS | 17:34 / 31.05.2022
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3 min read

CB reveales more than 500 violations by commercial banks in two months

The main reason for complaints from consumers is the incomplete provision of information about loans. 22 banks were instructed to eliminate violations of consumer rights.

Photo: Kun.uz

In March-April of the current year, the division of the Central Bank - the Service for Protecting the Rights of Consumers of Banking Services conducted inspections at 196 branches of 24 commercial banks in all regions to ensure the provision of banking services in accordance with the law.

The inspections revealed more than 500 violations by commercial banks in relations with consumers, in particular:

  • the types of loans and deposits are not fully disclosed, detailed information on their conditions, as well as information leaflets on the main conditions of loans and time deposits are not provided;
  • refusal of bank card payments and withdrawal of cash from bank cards, as well as the provision of these services does not allow the bank card holder to independently dial a PIN code.

22 banks were instructed to eliminate the causes of violations of the rights of consumers of banking services and take measures to prevent the recurrence of such cases in the future. Among them are Khalq Banki, Agrobank, Microcreditbank, Qishloq Qurilish Bank, Turonbank, Ipoteka Bank, Savdogarbank, Trustbank, Kapital Bank, Milliy Bank, Aloqabank, Uzsanoatkurilishbank, Orient Finance Bank, Hamkorbank, Asaka Bank, Universalbank, Infinbank, Tenge Bank, Anorbank , Davrbank, Madad Invest Bank and Ravnak Bank.

In addition, 195 bank employees were brought to disciplinary liability in accordance with the law, of which 145 employees were fined, 48 were fined one month’s salary and 2 were fired.

It is noted that the study of appeals shows that the cause of disputes between banks and consumers is the untimely and incomplete provision of preliminary information on loans, including:

•in case of non-payment of the loan within the specified period, high (increased) interest rates on overdue loans are applied and, as a result, the borrower’s debt increases;
•in case of untimely repayment of a loan by borrowers, payments on this loan are written off from the accounts of guarantors.

Consumer Protection Services encourages banks to fully disclose information about banking services so that consumers can make informed decisions about their use.

Consumers who have encountered a violation of their rights when using banking services can contact the Banking Consumer Rights Protection Service by calling (71) 212-60-15, (71) 212-73-80 and (71) 212-60-94.

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