The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has issued a consumer explainer on how credit histories and personal credit ratings inform banks’ and microfinance organizations’ assessments of borrowers’ solvency and credit risk. It clarifies that a credit history remains with a credit bureau for five years from the date the bureau receives the latest information about the individual, rather than from the date a loan was issued. The update complements earlier guidance on consumer controls that operate through credit-history records, including the Stop-credit service. Kazakhstan has two credit bureaus. The State Credit Bureau, a subsidiary of the National Bank of Kazakhstan, receives mandatory reporting from banks, microfinance organizations, pawnshops, collection agencies, telecommunications operators, utilities and other designated providers. Reporting to the privately owned First Credit Bureau is voluntary. Credit reports are confidential and may be obtained by individuals and authorized organizations, generally with the individual’s consent. Cross-border exchanges are permitted in certain cases where the relevant national authorities have an information-sharing agreement.

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