The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has detailed legislative amendments requiring payments under compulsory motor vehicle owners’ civil liability insurance to be made by bank transfer to beneficiaries’ accounts. Continuing recent changes to compulsory motor insurance rules, the measure replaces cash payments with a cashless process intended to improve transparency and ensure funds reach the injured party directly. Insurers must cover all transfer and account-crediting costs, allowing beneficiaries to receive the full insurance payment without commission deductions. The amendments to Article 25 of the compulsory motor liability insurance law will take effect on Oct. 21, 2026.
2026-08-28Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan mandates cashless motor liability insurance payments from October 21
Kazakhstan will require compulsory motor liability insurance payments to be transferred directly to beneficiaries’ bank accounts from October 21, 2026. Insurers must bear all transfer costs, ensuring recipients receive payments without commission deductions.