The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan published an April 2025 update on its consumer rights protection work, focused on borrower complaints linked to fraud, support with restructuring consumer-loan arrears and measures to reduce debt burdens. It reviewed 17,432 appeals from individuals and legal entities related to financial institutions and collection agencies, up 21.4% compared with March 2024, and applied five recommendation-based supervisory response measures plus two administrative sanctions totalling KZT 1.966 million. Banks accounted for 55.0% of appeals, microfinance organisations 36.2%, collection agencies 6.2% and insurers 1.4%, with other or unnamed organisations making up the remainder. The actions included four recommendation-based measures and one administrative sanction of KZT 1.573 million against banks, one recommendation-based measure for an insurance organisation, and one administrative sanction of KZT 393,000 for a collection agency. The update also sets out implementation of the Mortgage Housing Loan Refinancing Programme, which is being delivered through three tracks aimed at preserving borrowers’ sole homes and reducing debt burdens. As of 1 May 2025, banks had refinanced 32,800 mortgages totalling KZT 206.4 billion for borrowers who took loans in 2004–2020, converted or refinanced 15,800 foreign-currency mortgages issued before 1 January 2016 totalling KZT 114.0 billion, and provided additional support to 10,600 borrowers in the ХӘОТ category totalling KZT 95.1 billion. The foreign-currency conversion or refinancing and the additional support measures run until 31 December 2025, including debt reductions, preferential repayment schedules and returning ownership of a borrower’s sole home where the property is on a bank’s balance sheet.
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan 2025-06-02
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan reports 17,432 April consumer appeals, KZT 1.966m penalties and mortgage refinancing progress
The Agency for Regulation and Development of the Financial Market of Kazakhstan reported a 21.4% rise in borrower complaints about fraud and loan arrears in April 2025, leading to five recommendation-based measures and two administrative sanctions totaling KZT 1.966 million. Banks received four recommendation-based measures and one sanction of KZT 1.573 million. The update also highlighted the Mortgage Housing Loan Refinancing Programme, which refinanced 32,800 mortgages and converted 15,800 foreign-currency loans, with support measures until the end of 2025.