The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has withdrawn the microfinance activity licence of “Qamqor Credit Partnership” LLP (BIN 180440042738) under an order dated 25 April 2025 issued by the head of the Agency’s Aktobe regional representative office. The decision cites Article 16(2)(2) of Kazakhstan’s Law on Microfinance Activity, on the basis that the entity carried out its activities while systematically breaching the requirements of Kazakhstan’s laws and the regulatory legal acts of the authorised body and the National Bank of Kazakhstan, defined as three or more violations within 12 consecutive calendar months. Under Article 16(9), the microfinance organisation must within 30 calendar days of the revocation decision either re-register by removing “Credit Partnership” and any related wording or abbreviations implying microcredit lending from its name, or decide on reorganisation or liquidation; clients with outstanding obligations under microcredit agreements remain responsible for meeting their contractual obligations.
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan 2025-05-02
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan revokes Qamqor Credit Partnership’s microfinance licence for repeated regulatory breaches
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has revoked the microfinance activity licence of “Qamqor Credit Partnership” LLP due to repeated legal violations. The entity must re-register, reorganize, or liquidate within 30 days, while clients remain liable for existing microcredit obligations.