Tashkent, Uzbekistan (UzDaily.com) — The Committee for Competition Development and Consumer Rights Protection of Uzbekistan has imposed a financial penalty on Hamkorbank for violating advertising legislation.

During inspections, it was found that promotional information about an online microloan service contained misleading details. Specifically, the advertisement stated: "Need money urgently? Apply for an online microloan up to 50 million soums in the Hamkor app!"

The Committee noted that the advertisement lacked important information about other loan conditions, which violates the legal requirements. As a result, consumers could have been misled, potentially forming a false impression of the total cost and terms of obtaining the loan.

In response, a special commission of the Committee decided to impose a financial fine on the bank.

Hamkorbank has also been instructed to rectify the violations and ensure that similar situations do not occur in the future.