MED against Yapi Kredi Bank

The State Service for Antimonopoly Policy and Consumer Protection under the Ministry of Economic Development has identified in the activity of Yapi Kredi Bank Azerbaijan violation of antitrust laws.

As noted in the report of the Ministry of Economic Development (MED), the audits found that the issuance of documents to consumers who purchase products in economic subjects through credit cards "Worldcard" shows the total price, but you must specify the value of the products and the percentage of the total cost of separately.

Regarding other violations of consumer rights in the calculation for the acquired products using credit cards "Worldcard", identified Antimonopoly Service, there are elements of unfair competition, misleading consumers, in connection with which a criminal case against the bank for breach of competition law.

According to MED, consumers need to be careful about the proposals on interest-free credit purchases, carefully read the terms and conditions of business entities that offer similar services.

According to experts, this bank is one of the best in the relationship with consumers against him began elaborate action "survival" in the local banking market. Credit cards are more fully with consumer fraud offered by other banks, in respect of which the action is not taken. - 17D-