The Central Bank takes action against 21 commercial banks

The Central Bank has taken action against 21 commercial banks following inspections conducted at their local branches in Uzbekistan, as reported by the Central Bank's press service.

The examinations revealed that information concerning loans and deposits offered by these banks was not fully disclosed to consumers in compliance with established legal procedures.

Additionally, services were being provided through bank cards without adequate disclosure.

As a result, fines were imposed on 16 commercial banks, while warnings were issued to 5 others for their existing shortcomings.

The Central Bank emphasized the importance of complete transparency in providing information about banking services to consumers. It stressed that commercial banks should thoroughly explain the terms and conditions to enable consumers to make informed decisions regarding the utilization of banking services.