The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has suspended Tolebi Credit Partnership LLP’s licence to conduct microfinance activities for three months, under an order issued by the head of its regional representatives department in Turkistan. The suspension was based on breaches of prudential standards and or other mandatory norms and limits. During the suspension period, the firm is prohibited from entering into new microcredit agreements, extending existing microcredit agreements, or making amendments that increase the obligations and liabilities of either the microfinance organisation or the borrower. The firm remains obliged to perform its commitments under previously concluded microcredit agreements, and clients with outstanding obligations remain liable for non-performance in accordance with their contract terms.
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan 2025-05-21
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan suspends Tolebi Credit Partnership’s microfinance licence for three months
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has suspended Tolebi Credit Partnership LLP’s licence for microfinance activities for three months due to breaches of prudential standards. During this period, the firm cannot enter into new or extend existing microcredit agreements but must fulfill existing commitments. Clients remain liable for non-performance under current contracts.