The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan published an October 2025 consumer protection and supervision update focused on borrower complaints, primarily linked to fraud and requests for assistance with restructuring consumer-loan debt and reducing debt burdens. It reviewed 12,598 appeals from individuals and legal entities, up 7.9% from September, and applied 15 recommendatory supervisory response measures and four administrative fines totaling KZT 2.4 million. Banks accounted for 49.8% of appeals, microfinance organisations 39.2%, collection agencies 9.0%, insurance entities 1.7% and other organisations 0.3%. The supervisory and enforcement actions related to transfers to accounts of clients included on an antifraud list, failures to comply with legal requirements when executing payment demands, and late payment of insurance sums; second-tier banks received 12 supervisory response measures and one fine, while one fine each was imposed on a microfinance organisation and a collection agency and insurers received three supervisory response measures and one fine. The update also reported progress under the Agency’s three-part Mortgage Housing Loan Refinancing Programme aimed at preserving borrowers’ only home and reducing debt burdens. As of 1 November 2025, banks had refinanced 33,100 mortgages originated in 2004–2009 totaling KZT 210.3 billion and converted or refinanced 16,000 foreign-currency mortgages issued before 1 January 2016 totaling KZT 114.3 billion, with foreign-currency loans to be converted or refinanced by 31 December 2025. Additional support for socially vulnerable mortgage borrowers whose loans were previously refinanced reached 10,600 borrowers totaling KZT 99.8 billion, and the assistance period was extended to 31 December 2025.

Original source View in tracker