To protect the rights and legitimate interests of microcredit consumers, the Agency regulates and supervises microfinance institutions.
Legal entities that provide loans to citizens before January 1, 2020 (with the exception of legal entities registered as credit partnerships, pawnshops, and microfinance organizations that have been passed record registration and included in the register of microfinance organizations) are subject to state re-registration as microfinance organizations until July 1, 2020.
Legal entities that provide loans to citizens before January 1, 2020, have registered as credit partnerships, pawnshops, and microfinance institutions that have undergone statutory registration... must undergo state registration as microfinance institutions by July 1, 2020.
According to paragraph 5 of Article 1 of the Law on Collection Activities, the Register of Collection Agencies is the unified list of collection agencies maintained by the authorized body in the field of collection activities.
In accordance with paragraph 1 of Article 7 of the Law on Collection Activities, a legal entity intending to carry out collection activities is subject to registration within three months from the date of its state registration (re-registration) in the State Corporation "Government for Citizens."
To undergo registration, the legal entity intending to carry out collection activities shall submit to the authorized body the documents provided by the Resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market dated March 30, 2020 No. 49 "On Approval of the Rules for Registration and Maintenance of the Register of Collection Agencies."
Part three of paragraph 2 of Article 3 of the Law on Collection Activities establishes that a legal entity not included in the Register of Collection Agencies is not entitled to conduct collection activities, represent itself as engaged in collection activities, or use in its name the words "collection agency," derivatives thereof, or any terms implying that it carries out collection activities.
Information from the Register of Collection Agencies is published on the website of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market at https://www.gov.kz/memleket/entities/ardfm?lang=ru in the section "Financial Markets."
The Register of active and ceased collection agencies is published on the website of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market in the section Financial Markets - Other Financial Organizations - Register of Permits and Notifications - “Permits for Collection Activities.”.
According to paragraph 5 of Article 3 of the Law of the Republic of Kazakhstan "On Collection Activities," a collection agency is obliged to pay mandatory fees to the Banking Ombudsman’s office upon acquiring rights (claims) under a bank loan agreement concluded between a bank or an organization performing certain types of banking operations and an individual. Additionally, the collection agency must pay mandatory fees to the Microfinance Ombudsman’s office upon acquiring rights (claims) under a microloan agreement concluded between a microfinance organization and an individual.