Emblem
Official Source of the
Prime Minister of the
Republic of Kazakhstan
Menu
Emblem
Close button

Banking sector to take measures to protect rights of low-income consumers of financial services — National Bank of Kazakhstan

Thursday, 27 June 2019, 14:57:19

Deputy Chairman of the National Bank Oleg Smolyakov told at a press conference in the Government about measures to further tighten the rules for issuing consumer loans from the state.

As noted by Smolyakov, the greatest risks of uncontrolled growth of the debt burden primarily arise in the unregulated subject of the financial market, i.e. these are online creditors, various partnerships, pawnshops and so on. For three years, the growth of debt load on banks amounted to 40%, in unregulated entities — more than 2 times.

To date, a number of debt burden reduction measures have been developed, which were supported by the Senate and sent for signing by the Head of State. These measures are aimed at the elimination of commission issues that make the final rate of the borrower non-transparent. They also suggest a more rigorous analysis of the debt burden on the part of the borrower, the submission of information to the credit bureau to compile a complete picture of the debt burden.

Also, the banking sector will take additional measures to protect the rights of consumers of financial services. These measures will be aimed at the population that has a lower level of income. In particular, it is planned to limit, prohibit the issuance of loans to those who have an income below the subsistence minimum. In addition, approaches to bank regulatory requirements, capital weighting and debt burden assessment will be strengthened.

Another measure requires the introduction of a law that limits the accrual of a penalty over 90 days overdue. This measure will also eliminate permanent debt load.

Smolyakov also said that now citizens do not need to go to banks. The main work will be carried out by the Government, the National Bank, the Credit Bureau and banks.

“We do not expect a great need for borrowers to interact with banks. After receiving information from the Ministry of Labor and Social Protection of the Population on the list of persons identified in this Decree, the National Bank together with the National Credit Bureau and banks will check all the numbers, we will receive information on June 1 by categories of borrowers who are recipients of social support up to 300 thousand tenge. Also, on the final number of fines and penalties for July 1. After the conclusion of the program operators' contracts, we will also verify the repayment of the respective amounts so that these redemptions take place in fact, that is, they must be reflected in the credit file and in the data of the Credit Bureau,” explained Smolyakov.

Also, the deputy chairman of the National Bank gave explanations regarding the situation when a person has several loans in several banks.

“We have proposed a mechanism: depending on the largest debt, that is, in the bank in which the debt is greatest, the loan is paid first, and then in the future, the turn comes to smaller debts. There is no task to distribute evenly, we will proceed from proportionality of the indebtedness of an individual,” said Smolyakov.

According to him, the issue of corruption is also excluded here, because all the lists will be checked with the data of banks, the State Credit Bureau, the National Bank has relevant data on the total amount of debt of each individual.


News feed
29 May 2020, 15:56
Interdepartmental Commission decides to remove checkpoints and resume activities of several industries
28 May 2020, 15:12
Two hundred and thirty best specialists in 11 industries work to increase competitiveness of Kazakhstan
28 May 2020, 01:23
Oil production, gas supply and investment attraction — review of energy sector in Kazakhstan
27 May 2020, 11:36
Prime Minister of Kazakhstan Askar Mamin presented Dostyk Order to UAE Ambassador Mohammed Al-Jaber
26 May 2020, 19:52
Intergovernmental Commission considers issues of strengthening quarantine enforcement
26 May 2020, 11:43
Steady growth of 4% maintained in livestock industry — Ministry of Agriculture
26 May 2020, 11:04
In 2020, it is planned to sow crops on area of ​​22.5 million hectares — Ministry of Agriculture
26 May 2020, 10:51
Efforts in livestock development will be aimed at increasing self-sufficiency and exports — Askar Mamin
26 May 2020, 10:18
Kazakhstan has real potential to become one of world’s food hubs — Askar Mamin
25 May 2020, 22:33
Modernization of pharmaceutical industry and production of protective products: How Kazakhstani enterprises developed during emergency state
25 May 2020, 19:39
Interdepartmental Commission decides to resume several types of activities in regions
25 May 2020, 15:01
Government session to be held May 26 in Ukimet Uyi
24 May 2020, 11:00
Video Digest: Main events of the week, No. 62
24 May 2020, 08:38
Prime Minister Askar Mamin congratulated Kazakhstanis on Oraza Ait
23 May 2020, 22:19
Small and medium-sized enterprises, investment, and exports: What Almaty region focused on
23 May 2020, 21:38
Video Digest: Results of Prime Minister Askar Mamin’s working trip to Almaty region
23 May 2020, 17:26
Prime Minister Askar Mamin gets acquainted with state of hydraulic structures and implementation of development programs in Almaty region
22 May 2020, 16:24
Prime Minister Askar Mamin inspects restoration works in Maktaaral district of Turkistan region
21 May 2020, 12:44
Capital should be an example for all regions — Askar Mamin
20 May 2020, 18:00
Roman Sklyar discusses development of bilateral cooperation in engineering with German companies
19 May 2020, 15:22
Since beginning of 2020, 118 thousand people employed under Enbek program — Birzhan Nurymbetov
19 May 2020, 14:08
Ruslan Dalenov: Main goal of implementing Integrated Plan — to ensure employment of people
19 May 2020, 13:53
Each year, state will purchase 365 thousand tons of agricultural products
19 May 2020, 12:36
Who can purchase housing under new program 5-10-20
19 May 2020, 11:49
Integrated plan to help restore economic activity by the end of 2020 — Ruslan Dalenov
19 May 2020, 10:02
Government adopts Integrated Plan for Recovering Economic Growth
19 May 2020, 09:01
Prime Minister Askar Mamin introduces new minister of finance
19 May 2020, 08:25
Roman Sklyar inspects progress of restoration work in Turkistan region
18 May 2020, 21:03
Total supply of socially significant food products in Kazakhstan is 720 thousand tons
18 May 2020, 17:44
Interdepartmental Commission considers epidemiological situation in the country
18 May 2020, 17:03
Government session to be held May 19 in Ukimet Uyi
17 May 2020, 21:09
Fighting against unemployment and improving adjacent villages — how East Kazakhstan region developing today
17 May 2020, 09:39
Video Digest: Main events of the week, No. 61
16 May 2020, 21:33
Video Digest following Prime Minister Askar Mamin’s working trip to East Kazakhstan Region
16 May 2020, 14:36
Prime Minister Askar Mamin inspects development of Semey city and preparations for 175th anniversary of Abay
15 May 2020, 16:22
Prime Minister Askar Mamin inspects progress of spring field work and socio-economic development of East Kazakhstan region
14 May 2020, 22:52
From agriculture to tourism or how Akmola region develops its key industries
14 May 2020, 18:14
Government delegation led by Deputy Prime Minister Yeraly Tugzhanov pays working visit to Atyrau region
14 May 2020, 17:14
Labor market after emergency state: Number of vacancies and resumes increased
14 May 2020, 17:01
Prime Minister Askar Mamin holds board meeting of Baiterek Holding
14 May 2020, 13:25
Prime Minister Askar Mamin inspects progress of sowing in Akmola region
13 May 2020, 17:43
New package of measures to reopen economic sectors
13 May 2020, 16:02
Prime Minister Askar Mamin instructs regions to introduce reference standard of Smart Cities
12 May 2020, 11:45
According to results for first quarter of 2020, foreign trade turnover of Kazakhstan grew by 2.7%
12 May 2020, 11:21
In January-April 2020, oil production amounted to 31.3 million tons
12 May 2020, 10:36
In January-April 2020, pharmaceutical industry production increased by 24.2% — Ministry of Industry and Infrastructure Development
12 May 2020, 10:18
According to results of four months, state budget received 2.7 trillion tenge of revenues — Ministry of Finance
12 May 2020, 09:56
Communication services increased by 9.6% in January-April 2020 — Ministry of National Economy
12 May 2020, 09:46
Priority task for coming period will be formation of new economic structure — Askar Mamin
11 May 2020, 19:18
Government of Kazakhstan plans to gradually reduce non-oil deficit — Alikhan Smailov
© 2019 - 2020 Press service of the Prime Minister of the Republic of Kazakhstan.
Developed by SoftDeCo.