Tashkent, Uzbekistan (UzDaily.com) — The Competition Development Committee, following a monitoring exercise, identified violations of advertising legislation by TENGE BANK JSC. This was reported by the press service of the committee.

Specifically, it was found that through the "TENGE 24" platform, the bank distributed advertising in mass media with the phrase: "Easy online microloan up to 50 million soums."

However, as established during the investigation, the advertising materials lacked mandatory information required by Article 43 of the Law "On Advertising," namely: the annual interest rate, loan term, and loan amount — key conditions of the financial services agreement.

Based on these findings, a Special Commission of the Committee initiated a case on violation of advertising legislation. As a result of the review, TENGE BANK JSC was fined.

In addition, the bank was issued an order to rectify the violations and to ensure similar cases do not occur in the future.