Client’s rights

When dealing with consumers, the bank must comply with the principles of fairness, integrity and professionalism and disclose information in compliance with the following minimum requirements:
• information for all consumers and potential consumers of services should be provided on equal terms and in equal volume;
• information must be reliable, complete and provided in a timely manner;
• information must be provided to the consumer of services in simple and accessible language, and not contain intricate, confusing words and expressions as well as technical terms;
• information must be provided by the Bank in the official language and, if agreed, offered to the consumer in any other language;
• information must be provided to the consumer in such a font that the consumer can easily find the information he is interested in;
• information about the service must be provided in such a way that it is relevant and meaningful for the consumer in terms of understanding the essence of the service and assessing its suitability to their needs;
• information should not be presented in a manner that obscures important terms or deemphasizes it by making it appear unimportant. At the same time, distortion of the meaning of information that leads to ambiguity or otherwise allows for an ambiguous interpretation of the properties of the services provided is not allowed;
• the information as of the date of provision must be relevant in accordance with the circumstances stated by the consumer of the services and affecting the terms of the service agreement.

Before concluding a contract for the provision of services, the consumer must be provided with full disclosure of information about the service provided. The Bank is obliged to take all necessary measures to bring to the consumer’s attention information about the conditions of the service provided, the potential risks associated with it, provided for by the legislation of the Republic of Tajikistan, the consequences and responsibilities of the parties.

Before concluding an agreement for the provision of services, the Bank must:
• explain to the consumer the essence and basic conditions of the specific service he is interested in;
• familiarize the consumer with the amounts of all payments associated with the provision of the service of interest to him;
• explain the procedure for filing, the process and timing of consideration of consumer appeals arising from the contract;
• inform the consumer about his obligations under the contract, including liability measures that the Bank may apply in the event of his failure to fulfill his obligations (penalties or any other measures that worsen the financial situation of the consumer);
• inform the consumer about the form, frequency and timing of providing information (statements, notices) after signing the contract;
• before concluding a contract, provide the consumer with the opportunity and the necessary period of time to become familiar with the provisions of the contract;
• if, according to the terms of services, there is a need to use an additional service provided by a third party, the Bank is obliged to provide the consumer with the opportunity to choose such a third party.
The consumer must be provided with sufficient information about products and services to enable him to select the product or service that best suits his needs and financial capabilities.

The Bank, before offering or recommending a loan, must assess the financial situation, financial needs and financial capabilities of the consumer, and also ensure that the following requirements are met:
• before concluding a loan agreement, comprehensive information about the terms of the loan, including information about its full cost, must be disclosed;
• the consumer must be explained the consequences of non-fulfillment or improper fulfillment of his obligations and liability under the loan agreement;
• when publishing and disseminating information about the cost of credit, both nominal and effective interest rates/yield or profit on financing must be reported;
• the client has the right for early repayment of the principal amount at any time without charging penalties.
In addition to the information specified in the paragraphs above, the Bank must:
• explain to the borrower/client the essence and significance of credit history, including informing the client that in case of default on a loan, information about this will be provided to the credit bureau;
• notify the borrower/client that if he fails to fulfill his obligations, the loan may be forcibly collected at the expense of the pledged property, and if the pledged property is insufficient, at the expense of other property of the borrower/client;
• notify the borrower/client that he is allowed to refuse the requested loan during the period after signing the contract until the funds are received, without receiving any penalties;
• if there is a pledgor, guarantor or other person who is a party to the loan agreement, explain their responsibility and explain their responsibility and obtain their consent in a written form;
• in the case of a group loan, explain to borrowers/clients their joint overall responsibility for the loan;
• explain to the depositor that the Bank is obliged to issue the amount of savings/bank deposits fully or partly upon the first request of the depositor, with the exception of deposits of legal entities and individuals pledged as collateral;
• explain to the depositor that in the event of bankruptcy of the Bank, savings/bank deposits are compensated by the Savings Insurance Fund of Individuals in the amount and in accordance with the procedure established by the Law of the Republic of Tajikistan “On Insurance of Savings of Individuals”.
If the Bank refuses to provide a service to a client, it returns the client the original documents that he/she received from third parties for obtaining a service from the Bank (certificate of residence or work, property appraisal report, notarized document, etc.), at the customer’s request.
When transferring funds, the bank is obliged to provide the consumer with the following information:
• list of payment systems that transfer funds;
• list of documents required to transfer funds;
• conditions for transferring funds within the framework of applicable forms of non-cash payments;
• list of methods and systems for transferring funds;
• on the size of the minimum and maximum amount of funds transfer, if such amount is established by the legislation of the relevant foreign state;
• the amount of commissions paid by consumers of services, if provided for in the contract;
• deadline for the transfer;
• exchange rates and the procedure for their determination;
• amount and currency paid in the country of destination of the transfer;
• conditions for returning, changing data and canceling the transfer of funds;
• information on the procedure for the consumer to submit claims and the procedure for resolving disputes, including contact details of the Bank;
• additional information related to money transfers.
When providing loan and deposit services, the Bank is obliged to provide the consumer with a certificate about the basic conditions of the service provided.

Protecting Clients’ Interests
1. The relationship of clients with the Bank is carried out on the basis of an agreement, unless otherwise provided by law (Law No. 782 of December 26, 2011).
2. The terms and interest rates of loans, deposits, savings, as well as service fees are determined by the Bank in an agreement with the client. (Law No. 782 of December 26, 2011)
3. Before the start of service, the Bank must inform its client about the services provided, including service fees, interest rates and other additional costs of the client (Law No. 1549 of August 3, 2018).
4. The Bank is obliged to transfer and credit the client’s funds to the bank account no later than the next day after receiving the relevant payment document, unless another period is established by law, agreement or payment document (Law No. 782 of December 26, 2011).
5. In case of delay or incorrect crediting of funds to the account of its client or debiting of funds from it, the Bank must pay the client a fine for each day of delay on the overdue payment amount in accordance with the refinancing rate of the National Bank of Tajikistan (Law No. 782 of December 26, 2011).
6. Individuals and legal entities have the right to freely choose a credit institution and can open bank accounts in one or more credit institutions (Law No. 782 of December 26, 2011).
7. The Bank is obliged, in accordance with the regulatory legal acts of the National Bank of Tajikistan, to disclose financial statements, information on activities and provision of services, ownership structure (shareholders or participants, ultimate beneficiaries), organizational structure and management structure, compliance with prudential standards related (affiliated) persons of credit institutions and the audit report for the previous year (Law No. 1549 of August 3, 2018).
8. A credit institution does not have the right to unilaterally change the interest rate of issued loans, deposits, savings, service fees and validity periods of concluded agreements with clients, except for cases provided for in the agreement with the client (Law No. 782 of December 26, 2011).
9. A credit organization, when issuing a loan or providing another service to a client, does not have the right to impose conditions on the obligatory use of other services of this credit organization or its institutions (Law No. 782 of December 26, 2011).
10. If the client repays the principal amount early, the credit institution does not have the right to refuse to accept the principal amount. The accrual of interest for the remaining period and the imposition of a penalty for early repayment of the principal debt are prohibited. (Law No. 1549 of August 3, 2018).
11. The Government of the Republic of Tajikistan guarantees the safety and return of deposits and savings of individuals in a government bank (Law No. 782 of December 26, 2011).
12. A five-year statute of limitations is established for the claims of the Bank to return its issued loans (Law No. 782 of December 26, 2011, Law No. 1549 of August 3, 2018).