The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan adopted amendments to its rules governing how collection agencies facilitate the settlement of individuals’ debts, with a focus on improving the interaction framework between debtors and collectors. Under the changes, collection agencies must keep records of debtor applications received and reviewed, document the settlement measures applied, and log the reasons for refusing to change debt repayment terms. The amendments also clarify provisions covering collection agencies’ activities within enforcement proceedings and specify requirements for confirming that collectors have properly fulfilled their obligations to inform debtors of their right to contact a collection agency to settle a debt. The obligation to provide the recorded information to the Agency is removed in connection with planned automation. The amendments enter into force 10 calendar days after first official publication.

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