The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan published a commentary outlining plans to introduce a self-regulatory organisation (SRO) model in the country’s microfinance and debt collection markets, stating that the necessary preconditions for a transition are already in place. The approach would shift certain standards-setting and oversight functions to SROs, while the Agency would retain supervisory responsibilities focused on higher-risk entities and on the SROs’ own activities. The Agency pointed to the presence of seven professional associations across microfinance, pawnshops, fintech, agro-industrial credit partnerships and debt collection, including the Kazakhstan Collectors Association, which was reorganised as a voluntary SRO in July 2025. Under the proposed framework, SROs would be empowered to review borrower submissions relating to member firms, carry out inspections of participants and apply internal enforcement measures, with the stated aim of creating uniform operating standards, reducing violations and strengthening consumer protection.
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan 2025-10-17
Kazakhstan's Agency for Regulation and Development of the Financial Market outlines move to self-regulation in microfinance and debt collection
The Agency for Regulation and Development of the Financial Market of Kazakhstan plans to introduce a self-regulatory organisation (SRO) model in the microfinance and debt collection markets. This model will delegate standards-setting and oversight to SROs, while the Agency will supervise higher-risk entities and SRO activities. The framework aims to establish uniform standards, reduce violations, and enhance consumer protection.