AMANAT Party presents final results of the "Qaryzsyz Qogam" Project

AMANAT Party has presented its final report on implementation of the "Qaryzsyz Qogam" project for 2025. The event, chaired by Yerlan Koshanov, Chairman of the Majilis of the Parliament and Chairman of the AMANAT Party, was attended by Deputy Prime Minister/ Minister of National Economy Serik Zhumangarin, Chairperson of the Agency for Regulation and Development of the Financial Market Madina Abylkassymova, Minister of Education Zhuldyz Suleimenova, deputy regional akims, bank executives, regional project coordinators, lawyers, experts and project participants.

The "Qaryzsyz Qogam" initiative takes place under the instruction of the Head of State in cooperation with the Government, the Agency and second-tier banks. The project is designed to improve financial literacy, reduce excessive debt burdens, and provide legal assistance to citizens across all regions of Kazakhstan.

The event included a presentation of the "Qaryzsyz Qogam" project office, which runs a call center that provides legal advice on debt, employment and participation in government programs. 180 lawyers handle inquiries from citizens. Overall, a comprehensive support system has been established. Over three years, 1.4 million citizens have completed their training, and more than 1 million have received legal and financial advice.

To engage more citizens, online training based on the LMS (Learning Management System) platform was launched this year. This allows those who previously could not attend offline courses to take the training at a convenient time. The program includes several modules, ranging from personal budget management to investment basics. Participants receive certificates upon completion of the training.

A unified digital system, Qogamfin.kz, has been created, allowing to track request statuses and generate a package of documents on key issues, such as removal of encumbrances, debt restructuring and out-of-court bankruptcy.

In her speech, Agency Chairperson Madina Abylkassymova indicated that an important focus of the project is to assist in settling the overdue debt.

"Thanks to the project, debt of 703,000 borrowers totaling 754 billion KZT has been settled. Participation of financial institutions in the project reflects a paradigm shift in client interactions, where the long-term sustainability of borrower and benefits of the financial product for the consumer are paramount," Abylkassymova stated.

Financial institutions make a significant contribution to addressing the needs of the most vulnerable categories of the population. This year, using their own funds, they have completely wrote off debt of 89,000 borrowers totaling 25 billion KZT, and partially wrote off the debt of 470,000 borrowers totaling 4.1 billion KZT.

In her speech, Agency Head Madina Abylkassymova highlighted the measures taken to prevent individuals from becoming overindebted and reduce their debt burden. The law introduced a moratorium on sale of individual loans by banks and MFOs to debt collectors until 1 May 2026. This allowed for independent resolution of troubled debts within financial institutions.

A ban was imposed on issue of consumer loans to individuals with overdue payments of over 90 days. Starting this year, loans to individuals with overdue payments of over 30 days from banks and over 1 day from MFOs are prohibited. Maximum amount of consumer loans from banks and MFOs has also been fixed. This year, maximum term of unsecured loans has been further limited to no more than 5 years.

"The taken measures have slowed down growth of unsecured consumer lending by banks from 27.1% in 2023 and 29.3% in 2024 to 13.2% over the first 10 months of 2025," Madina Abylkassymova pointed out.

This year, the Head of State highlighted the need to elevate the "Qaryzsyz Qogam" project to the status of an institutional policy document, ensuring its sustainability, scalability and systemic impact on improvement of financial resilience of citizens.

"In pursuance of this instruction, the Agency, together with government agencies, has developed a new 2026 Roadmap designed to further enhance financial culture of the population and increase their income. The Roadmap provides for implementation of a number of key areas," Madina Abylkassymova stated.

In particular, the new law introduces a behavioral oversight model, which will strengthen consumer protection through a behavioral risk management system. To ensure uniformity and independence in review of citizens' complaints, it is planned to establish a uniform office of financial ombudsman.

"To resolve problems of citizens with long-term overdue debts with several creditors, a collective settlement mechanism based on the financial ombudsman is being introduced," the Agency Chief added.

An important area is to provide practical assistance to citizens in case of personal bankruptcy. A proactive out-of-court bankruptcy mechanism is being developed jointly with the Ministry of Finance.

"Credit institutions will send notifications offering to use this procedure, and after consent is received, out-of-court bankruptcy proceedings will be initiated. With this end in view, the new Law provides for a reduction in the out-of-court bankruptcy period from six to one month for individuals with overdue payments of over five years," said the Chairperson of the financial regulator.

Particular attention is paid to improvement of financial literacy of the population. The Agency, with support of financial institutions, implements measures to improve financial literacy, including publications in leading mass media, development of a special landing platform with video courses, and more.

"Given the achieved results and its high social significance, the “Qaryzsyz Qogam” project should become a permanent element of the state policy to support citizens in difficult life situations. In this connection, the Agency, together with financial institutions, will continue to implement the project, scale up its capabilities, introduce digital solutions, and develop mechanisms for targeted support of the population," Madina Abylkassymova summed up. During the event, contribution of second-tier banks to implementation of the "Qaryzsyz Qogam" project was particularly recognized. Following the meeting, a ceremony was held to present letters of gratitude and commemorative awards to partners, experts and participants of the project.