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

of June 15, 2020 No. 251

About additional measures of support of subjects of small and medium entrepreneurship

For the purpose of support of subjects of small and medium entrepreneurship, implementation of plans for recovery of financial condition and prevention of cases of emergence of overdue debt under agreements of bank loan and microcredit, PRIKAZYVAYU:

1. Approve the enclosed Procedure for provision of measures of support to subjects of small and medium entrepreneurship.

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

3. To department of methodology and regulation of financial institutions 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 legal entities earlier being the specified organizations.

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 June 15, 2020, No. 251

The procedure for provision died supports to subjects of small and medium entrepreneurship

1. This Procedure is developed for the purpose of provision to subjects of small and medium entrepreneurship (further - borrowers) which financial condition worsened during emergency state and (or) quarantine, additional measures of support for maintenance of business, implementation of plans for recovery of financial condition and prevention of the cases of emergence of overdue debt under agreements of bank loan and microcredit issued on the entrepreneurial purposes.

2. Support is provided based on the statement of the borrower constituted in any form if the internal procedure for credit institution does not provide standard form of such statement.

The borrower can submit the application with appendix of necessary documents to bank of the second level, the organization performing separate types of banking activities, the organization performing microfinancial activities including to the legal entity, earlier being the specified organizations (further - credit institution) by e-mail, the bank client online systems, Internet resource, mobile application or other means of communication.

3. The credit institution applies the internal procedure containing methods of restructuring of loans and (or) the microcredits, conditions and requirements to borrowers, procedures of interaction with the borrower, the list of the documents necessary for carrying out restructuring.

4. In case of the address of the subject of small and medium entrepreneurship the credit institution in individual procedure carries out assessment of its financial condition, influence of emergency state and (or) quarantine for business activity of the applicant and assessment of perspectives of recovery of financial condition. Assessment of financial condition provides the analysis of the actual income of the applicant and influence of the entered rationing arrangements during emergency state and (or) quarantine for business activity of the applicant, including for decrease in the consumer demand for goods, works and (or) services of the applicant, on violation of supply chains of goods and (or) services, on violation of payment due dates of goods, works and (or) services.

5. In the presence of the objective reasons of deterioration in financial condition of the subject of small and medium entrepreneurship during emergency state and (or) quarantine and possibility of recovery of its business activity, the credit institution offers the subject of small and medium entrepreneurship:

1) refinancing of bank loan and (or) microcredit on preferential terms within state programs of support of subjects of entrepreneurship if the credit institution participates in implementation of state programs, or on internal procedure for restructuring of loans and (or) the microcredits.

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