Asaka Bank refused to accept insurance agreement of client on equipment, purchased within the loan agreement with the bank. Asaka Bank said that it did not accepted the insurance agreement as insurer’s limit, set by the bank, ended.

At the same time, the Uzbek bank recommended to sign insurance agreement with other six insurance companies.

The committee studied a method of assessing stability of insurance company and determining risks of Asaka Bank on interaction with insurance companies, which set limit of insurance for insurance companies.

The Uzbek committee said that the methodology is not legal act and does not comply with the regulation on requirements on risk management by commercial banks, approved by the Central Bank of Uzbekistan.

The State Competition Committee said that Asaka Bank violated article 13 of the law “On competition”, in the part of blocking access to goods or financial markets to other business entities.

In the result, the committee opened a case against Asaka Bank and issued an order to eliminate violation. The bank was also ordered to ensure that internal documents of the bank comply to legislation of Uzbekistan on competition.