Banks in Uzbekistan to Be Audited for Unjustified Credit Card Fees

Tashkent, Uzbekistan (UzDaily.com) — The Committee for Competition Development has sent an inquiry to the Central Bank of the Republic of Uzbekistan regarding the protection of consumer rights in credit card operations conducted by commercial banks.

In recent years, Uzbekistan has actively promoted various forms of lending to stimulate economic growth and improve living standards.

However, in practice, instances have been identified where certain state-owned and private banks charge interest and commissions on payments for utilities, education, healthcare, insurance, and taxes made with credit cards, treating such transactions as equivalent to cash withdrawals. This has led to legitimate complaints from consumers.

In this regard, the Committee for Competition Development and Consumer Protection, acting in accordance with Articles 4, 12, 19, 21, and 23 of the Law of the Republic of Uzbekistan “On Consumer Protection,” has sent a request to the Central Bank to examine the activities of both state and private banks and to review the rules for calculating interest on credit cards. The committee has also tasked the Central Bank with ensuring that service conditions comply with consumer interests and with taking measures to refund unjustified fees charged to customers.

Additional information on this matter will be provided as it becomes available.