Proposal Targets Unfair Credit Card Charges
A proposal seeks tougher Central Bank checks on banks and finance firms accused of hitting credit card users with unfair fees, interest and harsh account action.
MPs Zainab Abdulameer and Khalid BuAnaq want clear rules on how card issuers treat customers as complaints rise among citizens and residents.
They said some cardholders had been left under added financial strain by the way accounts were run, with debts piling up and trust in banks taking a hit.
The plan calls on the Central Bank of Bahrain to keep a closer watch on card providers and make sure they follow banking rules. It also seeks curbs on fees and interest that have no fair grounds.
The MPs said new rules were needed to give customers a fair deal and stop lenders from using their stronger place in card contracts against them.
MPs warn that delays could leave families with heavier debts. They said tougher checks were needed to curb unfair treatment and rebuild trust in the financial sector.
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