Information message  about organizations that did not pass registration in the established period with the Agency of the Republic of Kazakhstan for regulation and development of the financial market

In order to protect the interests of consumers of financial services, the agency of the Republic of Kazakhstan for regulation and development of the financial market (hereinafter referred to as the agency) informs about the following.

Since July 1, 2020, paragraph 2-1 of Article 715 of the Civil Code of the Republic of Kazakhstan (hereinafter referred to as the Civil Code) has entered into force, according to which individual entrepreneurs and legal entities are prohibited from issuing money to citizens in the form of loans and such conditions are null and void.

This prohibition does not apply to the cases provided for in Paragraph 2 of Article 715 of the Civil Code, as well as to the cases of granting money in the form of bank loans and micro-loans, loans by the employer to its employee, a pensioner who previously had an employment relationship with this employer, as well as a loan by a legal entity to its founder (shareholder, participant).

"To date, there are a number of legal entities registered as microfinance organizations, credit partnerships and pawnshops that have not passed the registration before the deadline, as well as legal entities that have not passed the state re-registration in accordance with the requirements of the first part of Paragraph 4 of the law "" on making amendments and additions to some legislative acts of the Republic of Kazakhstan on the issues of regulation and development of the financial market, microfinance activities and taxation "" in accordance with the regional list listed below."