Anorbank Fined for Violations of Advertising Law

Tashkent, Uzbekistan (UzDaily.uz) — The Competition Promotion and Consumer Protection Committee has imposed a financial fine on Anorbank for violating the requirements of advertising legislation, according to the press service of the agency.

The basis for the investigation was an appeal by a resident of the Tashkent Region, who indicated that the bank's promotional publications on Instagram concerning incentive campaigns did not contain full information regarding the terms and conditions of their implementation.

During the investigation, committee staff established that the promotional materials lacked information about the duration of the campaigns, the applicable limits, and the commission fee charged if the established limit is exceeded.

Based on the results of the review of these materials, the Special Commission initiated a case against Anorbank and found the bank in violation of the requirements of Articles 16, 21, and 43 of the Law on Advertising.

Article 16 prohibits hiding essential information about goods and services in promotional materials. Article 21 provides for the mandatory disclosure of rules for holding incentive campaigns, including their duration. Article 43 requires that advertisements for financial services must state the essential terms of the respective agreements.

Following the proceedings, the Committee decided to impose a financial fine on the bank. In addition, Anorbank was ordered to eliminate the identified violations and prevent their recurrence.