The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has published guidance explaining that borrowers whose financial situation has deteriorated for objective reasons can ask a bank to restructure a loan by changing the contract terms to reduce the repayment burden. Examples given include lower income or job loss, serious illness or disability, maternity leave, military conscription, and force majeure events such as fire or theft. The guidance also notes that approaching the lender as early as possible can help avoid penalties, damage to credit history, and court recovery. Borrowers should apply directly to the bank, state the reason for their financial difficulties, and attach supporting documents such as proof of income or medical records. Banks review restructuring requests within 15 calendar days and may offer a longer loan term, a lower interest rate, a payment deferral, or partial write-off of penalties and fines. If restructuring is refused, borrowers with bank loans can contact the bank ombudsman, while borrowers with microloans from microfinance organizations can contact the microfinance ombudsman. Refinancing is also identified as a possible alternative.
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan 2026-05-05
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan publishes guidance on loan restructuring for borrowers in financial difficulty and 15 day bank review periods
Kazakhstan’s Agency for Regulation and Development of the Financial Market has clarified that borrowers facing objectively worsened financial circumstances may request loan restructuring from banks to ease repayment. Banks must consider such applications, potentially offering longer terms, lower rates, payment deferrals, or partial penalty write-offs, and borrowers can escalate refusals to the bank or microfinance ombudsman or consider refinancing.