About performance in consumer protection of financial services as of 1 June 2025
In May 2025, activities of the Agency for Regulation and Development of the Financial Market (hereinafter referred to as the Agency) on issues of protection of consumer rights mainly related to study of borrowers' requests due to fraudulent activities, assistance in restructuring consumer loan debt and taking measures to cut their debt burden.
In May 2025, the Agency covered 14,664 inquiries from individuals and legal entities related to activities of financial institutions and collection agencies, which is 16.0% less than in April 2025.
The banking sector accounts for the largest share of inquiries, 52.7% of the total number of inquiries. Inquiries related to activities of organizations engaged in microfinance activities accounted for 36.6%, collection agencies – 6.3%, insurance market entities – 1.6%, other organizations – 0.6%, without specifying the financial institution – 2.1%.
In May 2025, the Agency applied 3 recommendatory supervisory response measures, 2 written orders, 2 administrative penalties under 2 administrative offense reports for a total of 1,455 thousand KZT, in relation to:
- banks – 1 recommendatory supervisory response measure, 1 administrative penalty under 1 administrative offense report for a total of 1,180 thousand KZT;
- insurance organizations – 1 administrative penalty under 1 administrative offense report for a total of 275 thousand KZT;
- collection agencies – 1 written order;
- microfinance organizations – 3 advisory supervisory response measures, 1 written order.
The Agency continues to implement the Program for Refinancing of Mortgage Housing Loans (Mortgage Loans) (hereinafter referred to as the Program), goal of which is to preserve the only accommodation and reduce the debt burden of borrowers.
The first direction of the Program provides for refinancing of mortgage loans at a rate of no more than 3% per annum issued during the period from 2004 to 2020. As of 1 June 2025, banks refinanced 32.9 thousand loans in the amount of 207.4 billion KZT.
Under the second direction of the Program, conversion/ refinancing of foreign currency mortgage loans of individuals issued before 1 January 2016 (at the rate of 188.35 KZT per USD) was carried out, 15.9 thousand foreign currency mortgage loans in the amount of 114.0 billion KZT. Implementation period for this direction expires on 31 December 2025 due to completion of all scheduled activities.
Within the third direction of the Program, as of 1 June 2025, support measures were provided to 10.6 thousand borrowers from vulnerable social groups in the amount of 96.3 billion KZT. Extra assistance will be provided until 31 December 2025 as debt reduction and also return to former owners of the only accommodation listed on the balance sheet of banks.