17:12 - 4.04.2023

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April 4, Fineko/abc.az. The State Service for Antimonopoly Control & Consumer Market Supervision (under the Ministry of Economy) has reported on the violations in the advertising of banking services in Azerbaijan.

ABC.AZ was informed at the Service that the Law on Advertising establishes special rules for advertising financial, banking, insurance, investment services, as well as securities.

Thus, when an advertisement for a consumer loan contains information about any loan cost, the consumer should also be informed about:

ExpressBank, however, did not publish information about the actual annual interest rate on "cash" loans in the announcement posted on the official website. Thus, it violated the Law on Advertising, which is a violation of the law in question, which the Ministry found.