The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan published an update on its consumer rights protection work in August 2025, centred on borrower complaints that were largely fraud-related and requests for support in restructuring consumer-loan arrears to reduce debt burdens. The update also sets out supervisory responses to identified legal breaches by financial institutions and collection agencies and provides progress figures for the agency’s three-part mortgage refinancing programme aimed at preserving borrowers’ only homes. In August, the agency reviewed 11,167 appeals from individuals and legal entities related to financial institutions and collection agencies, down 19.7% from July. Appeals were mainly linked to banks (50.1%) and microfinance organisations (35.5%), followed by collection agencies (8.4%), insurers (1.9%), unnamed financial organisations (3.3%) and other organisations (0.8%). For detected legislative breaches, the agency applied seven recommendatory supervisory response measures and one written order, covering interest accrual on fraudulently issued loans, penalties charged for arrears exceeding 90 days, and failures to respond to complainants on time; five measures were applied to second-tier banks, one written order to a collection organisation and two measures to insurance organisations. As of 1 September 2025, banks had refinanced 33.0 thousand mortgages originated in 2004–2009 for KZT 209.5 billion under the programme’s first component. Under the second component, banks had converted or refinanced 15.9 thousand foreign-currency mortgages issued before 1 January 2016 for KZT 114 billion, with FX mortgages to be converted/refinanced until 31 December 2025. Under the third component, additional support for socially vulnerable mortgage borrowers whose loans were previously refinanced totalled KZT 98.6 billion for 10.6 thousand borrowers as of 1 September 2025, and the deadline for providing this assistance was extended to 31 December 2025.
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan 2025-10-09
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan reports 19.7% drop in August complaints and extends mortgage borrower support through 31 December 2025
In August 2025, the Agency for Regulation and Development of the Financial Market of Kazakhstan focused on borrower complaints about fraud and loan restructuring. It addressed legal breaches by financial institutions and detailed its mortgage refinancing programme, which refinanced 33,000 mortgages and converted 15,900 foreign-currency mortgages. Additional support for vulnerable borrowers totaled KZT 98.6 billion for 10,600 borrowers, with deadlines extended to 31 December 2025.