How to voluntarily refuse taking out a loan?
Agency for Regulation and Development of the Financial Market reminds that since June 2023, the Stop-Credit service has been in effect in Kazakhstan, allowing citizens to set a ban on raising the loans from banks and microfinance organizations. The service allows you to restrict an access to loans and prevent a loan from being issued without knowledge of the applicant.
After an application for voluntary ban is submitted, this information is automatically transferred to credit bureaus. Financial institutions applying for a credit report will see the established restriction and will not be able to issue a loan.
You can connect Stop-Credit online through the portal or the e-Gov mobile application:
- log in to the e-Gov system;
- select the service "Voluntary refusal to receive bank loans, microloans";
- fill out a form and sign it with an electronic digital signature;
- receive a notice of the result.
The service is valid indefinitely until the citizen cancels the restriction on his own. The service is disconnected in the same way - by submitting a new electronic application via e-Gov.
Important: the restriction does not apply to pawnshops and other organizations that do not use credit bureau data.
The agency urges the citizens to be responsible in matters of lending, protect their personal data and use available financial security measures.
More useful materials are available on the Fingramota.kz website.
External Communications Directorate