The government for citizens and Halyk Bank have launched an electronic service for withdrawing collateral

The state Corporation "Government for Citizens" together with Halyk Bank has launched the process of removing real estate collateral using blockchain technology. Now the bank's clients can withdraw their real estate from the collateral without contacting the PSC.

Halyk Bank customers can now withdraw collateral from their real estate without contacting the PSC. This became possible thanks to the use of blockchain technology.

"Customers can apply for the withdrawal of collateral directly in the Halyk Homebank mobile application, there is also the possibility of electronic payment of the order and receiving the finished result. Using the service reduces the waiting time for the result from three days to several minutes, frees customers from collecting papers and contacting the PSC," said Deputy Chairman of the Board of the State Corporation Askhat Ibraev.

By the way, thanks to blockchain technology, physical contact of citizens with PSC employees is also excluded, which ensures data protection from being transferred to third parties.

It is noted that the service for registration of termination of encumbrance on real estate is one of the most popular among Kazakhstanis. For 9 months of this year, 108,341 pledges were terminated through appeals to PSC.

Earlier in July of this year, the same service was launched between the State Corporation and Otbasy Bank. Since the launch, about 600 pledges have been terminated with the help of the service.

We remind you that as part of the cooperation of the State Corporation with second-tier banks, citizens can register at their place of residence, re-register a car, register an individual entrepreneur, replace a driver's license, receive state social benefits, a birth certificate and other necessary documents without leaving home.