PRINCIPLE OF TRANSPARENCY IN BANKING CONTRACTS.
Keywords:
transparency, banking contracts, credit contracts, foreign practice, information openness, banking sector, deposit contractsAbstract
In the article, a study was carried out on the peculiarities of the implementation of the principle of transparency in banking contracts. The purpose of the article is to study the main aspects of the implementation of the principle of transparency in banking contracts in Kazakh practice, as well as to identify problems in the analyzed field and to develop appropriate recommendations on their solution and further development of legislation. The problems of ensuring transparency of banking agreements in Kazakhstan are highlighted, which cause the emergence of various unfair practices of banks related to the presentation to clients of information that directly or indirectly can mislead them, the dissemination of incomplete, unreliable or false information, the inclusion in the contracts of such conditions as limit the freedom of choice of the client. Based on the analysis of foreign practice, some recommendations aimed at improving the Kazakh practice of ensuring the principle of transparency in banking contracts have been formulated. The need to develop and adopt a specialized decree of the National Bank on the regulation of transparency of banking contracts is justified. In the experience of European countries, it is the obligation of commercial financial institutions to place in their own branches or other places accessible to the public an information booklet containing, inter alia, the economic conditions of banking contracts and the main provisions by which it is guided. It is also proposed to establish in the legislation of the Republic of Kazakhstan the so-called "cooling period," during that period the client of the bank, having studied in detail all the terms of the contract, can terminate or change it. Implementation of the proposed measures in the banking practice of Kazakhstan will increase the level of transparency of the terms of banking agreements, which will significantly improve their quality, as well as ensure information openness of the banking services market of Kazakhstan.