From 4 September, banks in Uzbekistan will have to eliminate the causes of systemic violations of customer rights rather than only respond to individual complaints.
A systemic deficiency will mean a failure in internal processes or software that repeatedly violates customer rights during standard transactions.
Once such a problem is identified, bank management must approve a plan describing the violation, specific measures and deadlines, and the senior managers responsible.
Measures may be deemed not to have been taken if a bank misses deadlines, fails to conduct a required audit or does not report to its supervisory board.
Copies of management board decisions will have to be sent to the Central Bank within three business days. Banks must notify the regulator within five days after fully resolving a systemic failure.
The changes were introduced by Central Bank Board Resolution No. 19/16, registered by the Ministry of Justice on 1 August. They update the rules protecting consumers of banking services that have been in force since 2018.
