The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan outlined amendments to the Administrative Offences Code that strengthen administrative liability for organisations conducting microfinance activities, focusing on microcredit advertising disclosures and registration-related notifications to the supervisor. Under the law adopted on 10 January 2025, a microfinance organisation that distributes or places advertising containing information on microcredit interest amounts is subject to an administrative fine of 50 monthly calculation indices, AEK, if it fails to state the annual effective interest rate or states it incorrectly. Fines of 20 to 40 AEK also apply where an organisation conducting microfinance activities fails to notify, or notifies late, the Agency of its registration as a microfinance organisation, credit partnership or pawnshop. The changes to Article 211 entered into force on 13 March 2025.
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan 2025-05-23
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan strengthens administrative penalties for microfinance advertising disclosures and registration notifications
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan amended the Administrative Offences Code to enhance administrative liability for microfinance organisations. Key changes include fines for incorrect or missing microcredit interest rate disclosures and late registration notifications. The amendments to Article 211 took effect on 13 March 2025.