Banks will now warn customers in advance about credit risks
According to the new procedure, banks must inform the customer in credit advertisements and agreements about the consequences of failing to pay the debt on time
Banks will now warn customers about credit risks in advance
The decision of the Board of the Central Bank on introducing amendments and additions to certain interagency regulatory legal acts was state-registered by the Ministry of Justice on September 30, 2026, under number 3948.
The decision will come into force one month after the date of its official publication. According to it, banks are required to provide a warning in credit advertisements that failure to repay the debt on time is risky.
In advertisements in the form of images, videos, or audio, such a warning must occupy at least 10 percent of the advertising space or time.
A warning about the consequences of failing to repay the debt on time will also be placed on the first page of the credit agreement. It must occupy at least 30 percent of the page.
The warning will specify the potential consequences that may arise if the debt is not repaid on time. In particular, information will be provided that the debt amount may increase, recovery may be directed towards property and funds in bank accounts, and the credit history may be damaged.
Measures and sanctions are established for banks that distribute advertisements that mislead customers about credit products.
The new procedure will allow consumers to receive clear and understandable information about the risks of obtaining a credit and the consequences of failing to repay the debt on time before taking out a loan.
The decision will come into force one month after the date of its official publication. After that, compliance with the established warning requirements in credit advertisements and agreements will be mandatory.