The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan adopted rules governing the financial ombudsman system from Jan. 1, 2027. The framework defines the powers of the chief financial ombudsman and other ombudsmen, standardizes the submission and review of complaints, and sets requirements for decision timelines, implementation monitoring and regulatory reporting. It supports the planned creation of a unified debt resolution center for out-of-court financial disputes. The agency also provided an update on the finkelisim.kz collective debt resolution platform, which began operating on July 1, 2026. It allows borrowers to address obligations to multiple creditors through one procedure and provides for creditors to suspend collection measures once terms are agreed and a common document package is signed. Eligibility covers borrowers with unsecured consumer debt overdue by more than 90 days to at least two creditors, with total debt of 150 to 1,600 monthly calculation indices, equivalent to KZT 648,000 to KZT 6.9 million in 2026. About 350,000 distressed borrowers could qualify initially, with more favorable repayment terms available to socially vulnerable groups. The platform is expected to be integrated with private bailiff systems and personal solvency restoration and bankruptcy mechanisms. The agency is also running a pilot with other public authorities to resolve debts of people with group I or II disabilities through individualized measures such as restructuring, payment deferrals, longer loan terms and affordable repayment schedules, with bankruptcy procedures explained where solvency cannot be restored.

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