During investigations conducted by the Competition Authority, it was “determined that misleading information was provided in the advertising information for the online microloan service of “Hamkorbank” JSC. identified.
Specifically, it was observed that the advertisement for this banking service placed an outdoor advertisement with the content “Online microloan” – “Need money urgently, get an online microloan for 50 million sums- through the Hamkor app!”.
Clarification on this information was provided based on the information posted on the official internet page of the bank.
Herein, only information about the amount of the credit is provided with respect to the microloan banking service, with the remaining crucial terms of this credit not indicated in the advertising information.
The presentation of the advertisement in such a manner could possibly convey or lead to misleading situations for the users of the advertisement.
Based on the above, the Special Commission of the Committee has decided to apply a financial fine to “Hamkorbank” JSC in the prescribed manner, for indications of violation of the “About Advertising” Law requirements.
