Based on an appeal submitted by a citizen residing in the Tashkent Region, the Competition Promotion and Consumer Protection Committee of the Republic of Uzbekistan examined advertising information posted by JSC “ANOR BANK” on the Instagram social media platform.
In particular, the appeal stated that the information published by the bank as part of its promotional campaign did not contain complete information regarding the terms and conditions of the promotion.
The examination revealed that the advertisement for financial services did not include one of the essential terms of the contract, namely the conditions governing the validity of the promotion, the applicable limit, and information on the commission charged if that limit was exceeded.
Based on the above findings, the Special Commission of the Committee initiated proceedings against JSC “ANOR BANK” for indications of violations of Articles 16, 21, and 43 of the Law of the Republic of Uzbekistan “On Advertising”. Following the review of the case, a financial penalty was imposed on the bank.
In addition, a mandatory order was issued requiring the elimination of the identified violation and the prevention of similar violations in the future.
