In the agency, it was noted that the purpose of this document is to improve the protection of the rights of financial service users and to stimulate a competitive environment in the banking and payment services sector.
According to the proposed draft:
- banks, microfinance institutions, and payment systems are prohibited from manipulating service prices to drive out competitors;
- control over the imposition of unfavorable terms and hidden fees on clients is strengthened;
- advertising for banking products must include not only attractive interest rates but also complete information about fees and additional payments to avoid misleading clients;
- the National Bank is granted the right to impose fines on financial organizations and their leaders for violations of antitrust legislation, and may also go to court to recover illegally obtained profits;
- in cases where signs of cartel collusion or abuse of dominant position are identified, the regulator will be able to forward materials to law enforcement agencies.
In addition, the requirements for subsidiary and dependent companies of banks are clarified. In particular, if a structure focused on Islamic financing is established, it must have its own Sharia advisory board, the composition of which must be submitted to the National Bank.
The regulator is also updating documents related to antitrust policy and pricing that were adopted in 2005, 2007, 2009, and 2021. This pertains to both the definition of a dominant position in the banking services market and the rules for creating subsidiaries and pricing requirements.
The draft resolution has been published for public discussion, and the National Bank is awaiting comments and suggestions until November 11, 2025.
