Banks will create subdivisions to protect rights and interests of individual clients
Agency for Regulation and Development of the Financial Market, in order to improve the risk management and internal control system in second-tier banks, has initiated creation of special subdivisions in banks to protect rights and interests of individual clients. This innovation is in line with the international best practices.
Relevant changes were made by Decree of the Management Board of the Agency dated 25 July 2025 No. 29 to Decree of the Management Board of the National Bank of the Republic of Kazakhstan dated 12 November 2019 No. 188 "Approval of the Rules for Formation of a Risk Management and Internal Control System for Second-Tier Banks, Branches of Non-Resident Banks of the Republic of Kazakhstan".
The new subdivision will perform functions of the second line of protection of clients' rights and will operate independently of other structures of the bank. Its tasks include monitoring of compliance with customer rights through test purchases, coordinating the procedure for settling individuals' debt, analyzing risks for consumers when coordinating terms and conditions and promoting the financial products, assessing the effectiveness of the appeal review process and service quality, as well as analyzing the practices of promoting and advertising the bank's financial products.
The Decree also provides for enhancement of requirements for assessing the creditworthiness of individuals in terms of establishing the criteria for classification of individuals as high-risk borrowers in the presence of certain factors.
The Agency tightens requirements for presence of an internal procedure to make credit decisions on settling debt of individuals depending on an assessment of their life circumstances.
Full text of the decree of the Management Board is available on the Internet resource of the Agency.
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