The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has revoked the licence to carry out microfinance activity of “Abay Nesie” Credit Partnership LLP (BIN 180440042738), under an order dated 28 March 2025 issued by the head of the Agency’s regional representatives directorate in Turkestan city. The revocation was based on Article 16(2)(3) of Kazakhstan’s Law on Microfinance Activity, citing systematic failure to comply with the authorised body’s written instructions three or more times within twelve consecutive calendar months. Under Article 16(9) of the same law, the organisation must within 30 calendar days from the date of the decision either complete re-registration by removing from its name the words “Credit Partnership” and any related words or abbreviations implying microcredit provision, or decide on reorganisation or liquidation. Clients with outstanding obligations under microcredit agreements remain responsible for performance under their contracts and liable for breach of those obligations.
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan 2025-04-04
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan revokes Abay Nesie Credit Partnership’s microfinance activity licence
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has revoked the microfinance licence of “Abay Nesie” Credit Partnership LLP due to repeated non-compliance with regulatory instructions. The organisation must re-register, reorganise, or liquidate within 30 days, while clients remain liable for existing microcredit obligations.