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“Ipak Yuli” Bank imposed a fine for false advertising
The Committee for Developing Competition and Protection of Consumer Rights fined the “Ipak Yuli” Bank for violating the requirements of Articles 16 and 43 of the law “On advertising” and Article 6 of the law “On the protection of consumer rights”.
According to the press service of the department, it was found out that the advertisements for the “Universal” and “Milliy” deposits indicated annual interest rates: 22% for the “Universal” deposit and 25% for the “Milliy” deposit.
However, the bank’s official website states that the interest rate for the “Universal” deposit is 14% for the first 6 months and 18% for the next 6 months, depending on the term of closing the deposit accounts, which was not fully indicated in the advertisement.
Earlier, Kun.uz wrote that the Competition Committee fined the Termez branch of Orient Finans Bank for illegal advertising.
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