The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan published its 2024 consumer protection and supervisory results, reporting it reviewed 115,445 appeals linked to banks, microfinance organisations, collection agencies, and insurance and securities market participants, up 86.0% from 2023. The update also summarises enforcement outcomes for identified legal breaches and provides progress figures for the state mortgage refinancing programme aimed at preserving borrowers’ sole homes and reducing debt burdens. In December 2024, 11,761 appeals were reviewed, down 12.8% from November, with banks accounting for 53.0% of December appeals, microfinance organisations 32.8%, collection agencies 6.1% and insurers 1.5%. Across 2024, the Agency issued 100 recommendatory supervisory response measures, 62 written orders and 8 written warnings, and imposed 114 administrative penalties totalling KZT 199.1m based on 524 offence protocols, concentrated in microfinance organisations (427 protocols, 44 penalties, KZT 157.6m), banks (44 protocols, 28 penalties, KZT 29.1m) and collection agencies (43 protocols, 36 penalties, KZT 10.6m). Insurers received five penalties totalling KZT 1.7m, while organisations conducting certain types of banking operations received one penalty totalling KZT 94.6k. On the mortgage refinancing programme, banks had refinanced 32.7 thousand loans totalling KZT 204.2bn for mortgages originated between 2004 and 2020 and converted or refinanced 15.7 thousand foreign-currency mortgages (issued before 1 January 2016) totalling KZT 114bn; additional support of KZT 92.2bn had been provided to 10.6 thousand borrowers in the socially vulnerable population category. Foreign-currency mortgage conversion/refinancing and the additional support measures are scheduled to continue until 31 December 2025.

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