The Senate of the Parliament of the Republic of Kazakhstan discussed the implementation of legislation on bankruptcy of citizens

  On May 14, 2026, a round table on the implementation of legislation in the field of bankruptcy and restoration of citizens' solvency was held in the Senate of the Parliament of the Republic of Kazakhstan as part of the work plan of the IV session of the Parliament of the VIII convocation.      

The discussion was attended by deputies of the Senate, representatives of the State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan, the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market, the Judicial Administration, the Ministry of Justice, as well as other interested government agencies and organizations.    

 During the meeting, the results of the implementation of the Law of the Republic of Kazakhstan "On the restoration of solvency and bankruptcy of citizens of the Republic of Kazakhstan", effective from March 2023, were summed up. During this period, 66,397 citizens worth about 250 billion tenge were declared bankrupt under out-of-court and judicial bankruptcy procedures.

Another 1,118 citizens applied the procedure for restoring solvency in the amount of 20.4 billion tenge, of which 402 debtors approved plans for restoring solvency.      

It is noted that the law helps to reduce the debt burden of the population and form effective mechanisms for the financial rehabilitation of citizens. The participants were also presented with the results of improving legislation, including measures to increase the accessibility of procedures, simplify their application and strengthen the protection of debtors' rights.    

 At the same time, issues requiring further regulatory settlement were identified during the discussion, and proposals were made to further improve bankruptcy mechanisms and restore citizens' solvency.