Competition Committee Identifies Advertising Violations in Financial Services Sector
Uzbekistan's Competition Committee has initiated proceedings and imposed financial penalties on over 20 commercial banks and microfinance organizations for deceptive advertising.
Competition Committee Discovers Advertising Breaches in Financial Services Industry
Tashkent, Uzbekistan (UzDaily.uz) — The Committee for Competition Promotion and Consumer Protection of the Republic of Uzbekistan has launched proceedings against various commercial banks and microfinance organizations (MFOs) for breaching advertising laws related to financial services, as reported by the regulator's press service on July 15, 2026.
The committee revealed that a considerable amount of illegal advertising content circulating on social media, the internet, and traditional media stems from the financial sector. The watchdog pointed out that these advertisements often include false or misleading information aimed at consumers.
In particular, marketing materials for deposits and loans frequently lack crucial information such as interest rates, minimum eligibility criteria for clients, and the duration of the offers. Likewise, advertisements for microloans often neglect to mention necessary intermediary fees, insurance costs, and other related charges. In some cases, key terms and conditions are presented in an overly brief, unclear, or unreadable manner.
The authority also found examples where advertisers employed vague language, overstated benefits, or used registered trademarks and names of rival companies. The committee concluded that these actions directly infringe upon consumers' rights to receive comprehensive and accurate information about financial products.
According to Article 43 of the Law of the Republic of Uzbekistan "On Advertising," advertisers are required to fully disclose the essential terms and conditions of financial service agreements. The law explicitly forbids the exploitation of consumer trust or taking advantage of their lack of experience or knowledge for profit.
The regulator announced that financial penalties for breaching advertising laws have recently been imposed on over 20 commercial banks and microcredit organizations. Investigations have focused on notable entities, including cases initiated against JSC Anor Bank, JSC Tenge Bank, JSC Agrobank, Ipoteka Xizmati Group LLC, and Tasfinance Mikromoliya Tashkiloti LLC.
The Competition Committee has called on all market participants to ensure that advertising materials for financial services provide complete and accurate information in a clear and accessible manner. The regulator stressed that the use of hidden text, excessively small fonts, or color schemes that camouflage the terms of an offer is strictly forbidden.