The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has prepared a draft board resolution to amend certain national regulatory acts, aimed at strengthening consumer protection in the provision of financial services. The draft would introduce requirements for banks and microfinance organisations when delivering services remotely, including annual effective interest rate disclosure. Under the proposed changes, firms would need to ensure access to the annual effective interest rate calculation on their internet resources and display the annual effective interest rate in mobile applications. The draft also уточifies all mandatory and ancillary charges that must be included in the annual effective interest rate calculation, including payments made for the benefit of third parties, to improve transparency and completeness of information on the actual cost of borrowed funds. The full draft text is available on the Open NPA portal and on the Agency’s website in the Regulatory Legal Framework section.
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan 2025-06-11
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan drafts amendments requiring annual effective interest rate disclosure in mobile apps and clearer cost of credit calculations
Kazakhstan's Financial Market Agency drafted a resolution to amend regulations for better consumer protection in financial services. It requires banks and microfinance organizations to disclose the annual effective interest rate for remote services, including mobile apps, and clarifies charges in the rate calculation. The draft is on the Open NPA portal and the Agency's website.