The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan and the National Bank of the Republic of Kazakhstan have prepared a draft joint resolution to suspend a provision of their 2024 joint decision on maximum annual effective interest rate limits. The draft would pause the planned reduction in the maximum annual effective interest rate for mortgage housing loans from 25% to 20% until 1 November 2025. The suspension is intended to give second-tier banks additional time to prepare for the changes, including adapting internal accounting and operational systems, revisiting requirements for existing and new mortgage products, and making necessary amendments to internal policies and procedures. The full draft text is available on the Agency’s website.
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan 2025-06-18
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan and the National Bank draft joint resolution to delay the mortgage annual effective interest rate cap cut until 1 November 2025
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan and the National Bank of the Republic of Kazakhstan have drafted a joint resolution to suspend the reduction of the maximum annual effective interest rate for mortgage housing loans from 25% to 20% until 1 November 2025. This suspension aims to provide second-tier banks with additional time to adjust their systems and policies.