Tashkent, Uzbekistan (UzDaily.com) — The Central Bank of Uzbekistan has adopted a new concept aimed at strengthening the protection of consumers of financial services.

The document was developed based on the current national context and international best practices. It sets out key principles for financial institutions' interactions with clients and includes preventive mechanisms to avoid violations.

According to the concept, financial institutions must provide complete, transparent, and accessible information about their products and services — including terms, fees, risks, and limitations.

Clients must be able to make informed decisions freely, without pressure or the imposition of additional services. Special emphasis is placed on protecting vulnerable groups such as pensioners, people with disabilities, and citizens with low financial literacy.

The concept also obliges financial institutions to take into account the actual needs and capabilities of clients when offering services. In cases of financial hardship, they are expected to provide support — including assistance with overdue payments.

To ensure implementation, the Central Bank will establish systematic oversight by analyzing the conduct of financial institutions, handling complaints, using proactive monitoring tools (such as the “mystery shopper” method), and introducing a financial ombudsman institution.

The concept will be reviewed every three years to reflect evolving realities and consumer needs.