Warning on “Unfair” Banking Practices

Tashkent, Uzbekistan (UzDaily.com) — The Central Bank of the Republic of Uzbekistan (CBU) has issued an official warning to all commercial banks in the country, demanding the immediate cessation of practices involving the forced bundling of services through mobile applications.

The regulator characterized these methods as “contrary to the principles of fairness” and “essentially unfair.”

The intervention followed numerous consumer complaints and the results of monitoring remote banking services.

The CBU found that many commercial banks, when offering a client a specific service via a mobile app — such as applying for a microloan or opening a deposit — first require the client to accept a general “master offer.” This document consolidates the terms for a wide range of banking products and services.

In effect, the consumer is compelled to accept all conditions for all products, even if they only intend to use one specialized service.

The Central Bank stated that this practice violates fundamental legal norms governing financial relations.

As legal grounds for its demand, the Central Bank cited several key legislative acts.

First, Article 9 of the Civil Code, which requires all participants in civil law relations to act honestly, reasonably, and fairly.

Second, Article 18 of the Law “On Competition,” which recognizes the forced acceptance of terms unrelated to the subject of a contract as an abuse of dominant bargaining power.

Most importantly, Article 65 of the Law “On Banks and Banking Activities” explicitly prohibits banks from compelling a client to use any other banking product or service, or a third-party product or service, as a condition for accessing the primary banking product. This provision establishes a clear ban on tying arrangements.

The Central Bank demanded that all commercial banks immediately cease such practices, ensuring transparent and voluntary access to services.

This warning signals that the regulator intends to strengthen oversight of consumer rights in the rapidly growing digital banking sector.