Cancellation of a license of Arys Credit Partnership LLP

Subject to order of the Head of Turkestan City Department of Regional Representatives of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market (hereinafter referred to as the Agency) dated 12.08.2025 No. 34, Arys Credit Partnership LLP (hereinafter referred to as the CP) was deprived of its license to carry out microfinance activities.

Grounds for cancellation of the license subject to sub-clause 2) clause 2 article 16 of the Microfinance Activities Law of the Republic of Kazakhstan was conduct of activities with recurrent (three or more times within twelve consecutive calendar months) violations of requirements of the laws of the Republic of Kazakhstan, as well as regulatory legal acts of the authorized agency, the National Bank of the Republic of Kazakhstan.

Subject to clause 9 article 16 of the Microfinance Activities Law of the Republic of Kazakhstan, the CP has, within thirty calendar days from the date of the Agency's decision to revoke the license to carry out microfinance activities, to carry out the re-registration procedure by removing from its name the words "credit partnership", words derived from them or abbreviations suggesting that the said legal entity carries out activities to provide microloans, or to make a reorganization or liquidation decision.

Clients of the CP who have outstanding obligations under microloan agreements are liable for a failure to discharge obligations to the CP subject to the terms and conditions of the signed microloan agreements.