The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has suspended, for three months, the licences of four microfinance organisations to conduct microfinance activity. The suspensions were ordered by the head of the Agency’s regional representatives office in Almaty. The affected firms are MFO Hava Finance LLP, MFO POS Credit LLP, MFO SF Offline LLP and MFO Salem Credit LLP (orders No. 35–38 dated 4 June 2025). The Agency cited breaches of prudential standards and/or other mandatory norms and limits as the basis for suspension under Article 16(1)(2) of Kazakhstan’s Law on Microfinance Activity. During the suspension, the firms are prohibited from entering into new microcredit agreements, extending existing microcredit agreements, or amending them in a way that increases the obligations or liabilities of either the microfinance organisation or the borrower, while remaining required to perform obligations under previously concluded agreements; borrowers with outstanding obligations remain liable under their contract terms.
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan 2025-06-05
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan suspends four microfinance licences for three months
Kazakhstan's Financial Market Agency suspended four microfinance organisations' licences for three months due to prudential breaches. Affected firms, including MFO Hava Finance LLP and MFO POS Credit LLP, cannot enter new or amended microcredit agreements during the suspension. Existing obligations must still be fulfilled by both firms and borrowers.