Tenge Bank Faces Fine for Microloan Advertisement
Published
Tenge Bank has received a fine for failing to disclose key terms in its microloan advertisement, the Competition Development Committee announced.
The bank promoted online microloans of up to UZS 50 mln via its Tenge 24 platform. However, the advertisement did not provide crucial details, such as the annual interest rate and repayment terms.
The committee launched a case for violating advertising laws. Alongside the fine, officials instructed the bank to correct the violations and avoid similar breaches in future.
