The Legislative Chamber of the Oliy Majlis of Uzbekistan has adopted a bill in its first and second readings aimed at strengthening the regulation of credit advertising. The press service of the lower house of parliament announced this development.

The initiators of the document highlighted issues with current advertising and marketing materials related to microloans. According to them, such advertisements emphasize the speed of obtaining loans, while potential financial risks for consumers remain obscured.

The bill introduces mandatory warnings about the risks of failing to meet credit obligations. Corresponding amendments are proposed to be made to the Law "On Advertising."

According to the document, the warning must occupy at least 10% of the advertising space for graphic materials or time for audio and video advertisements.

It is expected that this innovation will enhance the financial literacy of the population and promote a more responsible attitude towards borrowing.

Source: kun.uz