THE ORDER OF THE CHAIRMAN OF THE AGENCY OF THE REPUBLIC OF KAZAKHSTAN ON REGULATION AND DEVELOPMENT OF THE FINANCIAL MARKET

of March 26, 2020 No. 167

About approval of the Procedure for suspension of payments of the amounts of principal debt and remuneration on loans of the population, the small and medium business injured with introduction of emergency state

According to the subitem 3) Item 1 of the Presidential decree of the Republic of Kazakhstan of March 16, 2020 No. 286 "About measures for ensuring social and economic stability" in connection with introduction by the Presidential decree of the Republic of Kazakhstan of March 15, 2020 No. 285 of emergency state in all territory of the Republic of Kazakhstan and introduction of measures and temporary restrictions concerning the population and subjects of entrepreneurship, for the purpose of non-admission of deterioration in their financial condition, PRIKAZYVAYU:

1. Approve the enclosed Procedure for suspension of payments of the amounts of principal debt and remuneration on loans of the population, the small and medium business injured with introduction of emergency state.

2. To department of methodology and regulation of the financial organizations to bring this order to the attention of the interested divisions of the Agency of the Republic of Kazakhstan on regulation and development of the financial market, banks of the second level, the organizations performing separate types of banking activities, the organizations performing microfinancial activities including the pawnshops, the companies of online crediting, credit partnerships, including legal entities which were earlier the specified organizations.

3. This order becomes effective from the date of its signing.

4. To impose control of execution of this order on the vice-chairman of the Agency of the Republic of Kazakhstan on regulation and development of the financial market Abdrakhmanov N. A.

Approved by the Order of the Chairman of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of March 26, 2020, No. 167

Procedure for suspension of payments of the amounts of principal debt and remuneration on loans of the population, the small and medium business injured with introduction of emergency state

1. This Procedure for suspension of payments of the amounts of principal debt and remuneration on loans of the population, the small and medium business injured with introduction of emergency state (further - the Procedure) is developed according to the order of the President of the Republic of Kazakhstan Tokayev K. K. of March 23, 2020 on suspension of payments of the amounts of principal debt and remuneration on loans of the population, the small and medium business injured with introduction of emergency state.

2. The procedure extends to the banks of the second level, the organizations performing the separate types of banking activities, the organizations performing microfinancial activities including the pawnshops, the companies of online crediting, credit partnerships, including legal entities which were earlier the specified organizations (further - credit institution).

3. The procedure extends to all bank loans and the microcredits issued by credit institutions till March 16, 2020.

4. Credit institutions for the period with the consent of the borrower perform from March 16 to June 15, 2020 suspension of payments for principal debt and remuneration under agreements of bank loan and (or) microcredit (further - suspension of payments), without requirement of the statement and supporting documents, and without signing of supplementary agreements to agreements of bank loan and (or) microcredit, the following categories of physical persons:

1) to socially vulnerable segments of the population according to article 68 of the Law of the Republic of Kazakhstan "About the housing relations":

disabled people and participants of the Great Patriotic War;

persons equated to disabled people and participants of the Great Patriotic War;

disabled people of 1 and 2 groups;

the families having or which are bringing up handicapped children;

persons suffering from severe forms of some chronic diseases listed in the list of diseases approved by the Government of the Republic of Kazakhstan;

retirement pensioners;

the orphan children and children without parental support who did not reach twenty nine years, lost parents to age of majority;

oralmans;

persons which lost the dwelling as a result of ecological disasters, emergency situations of natural and technogenic nature;

the mothers having many children awarded with suspension brackets "Three-copecks piece of alg", "Kum_s of alg" or who were entitled earlier "Mother heroine", and also awarded with the awards "Maternal Glory" І and the II degrees, large families;

families of persons, the died (dead) in case of execution of the state or public duties, military service, by preparation or implementation of flight in space, in case of rescue of human life, in case of protection of law and order;

incomplete families;

2) to receivers of the government address public assistance according to the Law of the Republic of Kazakhstan "About the government address public assistance";

3) the unemployed registered in local body for questions of employment of the population according to the Law of the Republic of Kazakhstan "About employment of the population".

Credit bureaus send lists of the specified physical persons to credit institutions.

The credit institution notifies the borrower on suspension of payments by available methods.

5. Credit institutions perform suspension of payments for principal debt and remuneration under agreements of bank loan and (or) microcredit for the period from March 16 to June 15, 2020 to physical persons which financial condition worsened for the following reasons:

1) temporary disability in connection with introduction of quarantine;

2) stay in unpaid labor leave;

3) dismissal, termination of the employment contract and termination of other employment relationships;

4) decrease or suspension of salary payment or other income;

5) if the worker cannot be present at workplace in connection with restrictions for entrance (departure) to the area in the territory of which emergency state and (or) quarantine is effective;

6) other reasons testimonial of deterioration in financial condition.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info