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

of January 10, 2022 No. 8

About measures of support of the physical persons and legal entities injured with introduction of emergency state

Due to the introduction by Presidential decrees of the Republic of Kazakhstan of January 5, 2022 No. 725, 726, 727, 732, 733, 734, 735, 736, 737, 738, 739, 740, 741, 742, 743, 744, the 745th emergency state in all territory of the Republic of Kazakhstan, for the purpose of prevention of cases of emergence of overdue debt under agreements of bank loan and microcredit, PRIKAZYVAYU:

1. Approve the enclosed Procedure for provision of payment deferral on loans of the physical persons and legal entities injured with introduction of emergency state.

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

3. To department of methodology and prudential 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 pawnshops, credit partnerships.

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.

Chairman

M. Abylkasymova

Approved by the Order of the Chairman of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of January 10, 2022, No. 8

Procedure for provision of payment deferral on loans of the physical persons and legal entities injured with introduction of emergency state

1. This Procedure for provision of payment deferral on loans of the physical persons and legal entities injured with introduction of emergency state, No. 725, of 726, of 727, of 732, of 733, of 734, of 735, of 736, of 737, of 738, of 739, of 740, of 741, of 742, of 743, of 744, 745 is developed according to Presidential decrees of the Republic of Kazakhstan of January 5, 2022.

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 pawnshops, credit partnerships (further - credit institution).

3. The procedure extends to the bank loans and the microcredits issued by credit institutions till January 5, 2022 to physical persons and legal entities including to individual entrepreneurs (further - borrowers).

4. Credit institutions perform suspension of payments for principal debt and remuneration under agreements of bank loan and (or) microcredit (further - payment deferral on the credit) the borrower in the presence of the objective reasons of deterioration in their financial condition or the caused damage during emergency state.

The credit institution in individual procedure carries out impact assessment of emergency state on financial condition and activities of the borrower.

The credit institution grants payment deferral on the credit since January 5, 2022 for the period determined by credit institution in coordination with the borrower by results of assessment of its financial condition.

5. The payment deferral on the credit is granted based on the statement of the borrower constituted in any form, containing the payment deferral reason on the credit, with application of documents, confirming deterioration in financial condition.

The application can be submitted to credit institution till January 31, 2022.

6. The application (address) for provision of payment deferral on the credit is submitted by the borrower to credit institution by means of e-mail, the bank client online systems, Internet resource, mobile application, other means of communication, or by personal visit by the borrower of office of credit institution.

7. The term of consideration by credit institutions of statements of borrowers constitutes 10 (ten) working days.

8. The payment deferral on the credit is granted by establishment of the new payment schedule in the form of uniform distribution of earlier deferred payments until the end of the term of loan or increase in term of loan for delay, or other schedule, as a result of change of terms of the contract of the bank loan and (or) the microcredit approved by credit institution with the borrower.

Under approval of credit institution of the borrower the payment deferral on the credit is granted without signing of supplementary agreements to agreements of bank loan and (or) microcredit and (or) agreements of subsidizing and (or) guaranteeing.

9. The payment deferral on the credit on the conditions specified according to the procedure is not the basis for deterioration in credit history of the borrower and provision of the negative information about the borrower in credit bureaus.

10. Credit institutions are forbidden to charge from borrowers the fees and other payments for consideration of the application and change of agreements of bank loan, microcredit and (or) pledge and other connected agreements.

For payment deferral on the credit the credit institution stops claim and claim work on this borrower and the notification of the borrower on need of repayment of overdue debt.

11. For action of emergency state and payment deferral on the credit credit institution:

does not charge and does not require payment of penalty (penalties, penalty fee) under agreements of bank loan and (or) borrower's microcredit;

does not perform capitalization (summing) of the added and overdue remuneration, penalty (penalty, penalty fee) to the amount of principal debt under agreements of bank loan and (or) microcredit.

12. The credit institution provides availability on the homepage of Internet resource and in mobile application (in the presence):

1) information on possibility of provision by credit institution of payment deferral on the credit;

2) phone numbers for receipt of the additional information by borrowers.

 

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