THE RESOLUTION OF BOARD OF THE AGENCY OF THE REPUBLIC OF KAZAKHSTAN ON REGULATION AND DEVELOPMENT OF THE FINANCIAL MARKET

of May 15, 2026 No. 92

About approval of Requirements to implementation of microfinancial activities

According to Item 3 of article 3-1 of the Law of the Republic of Kazakhstan "About microfinancial activities" Board of the Agency of the Republic of Kazakhstan on regulation and development of the DECIDES: financial market

1. Approve the enclosed Requirements to implementation of microfinancial activities (further - Requirements).

2. Recognize invalid the resolution of Board of National Bank of the Republic of Kazakhstan, the resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market, and also separate structural elements of some resolutions of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market in the list according to appendix to this resolution.

3. To provide to department of behavioural supervision in the procedure established by the legislation of the Republic of Kazakhstan:

1) together with Legal department state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

2) placement of this resolution on Internet resource of the Agency of the Republic of Kazakhstan on regulation and development of the financial market after its official publication;

3) within ten working days after state registration of this resolution submission to Legal department of data on execution of the action provided by the subitem 2) of this Item.

4. To impose control of execution of this resolution on the supervising vice-chairman of the Agency of the Republic of Kazakhstan on regulation and development of the financial market.

5. This resolution becomes effective after sixty calendar days after day of its first official publication, except for paragraph 5 of Chapter 5, of Item 83 of Requirements, appendices 4 to Requirements, subitems 1) and 11) of Item 6 and the subitem 3) of Item 7 of appendix 5 to Requirements which become effective since October 1, 2026.

Determine that during the period from the date of enforcement of this resolution and till October 1, 2026 the subitem 7) of Item 2 of appendix 5 to Requirements is effective in the following edition:

"7) method of issue of the microcredit;".

Determine that since January 1, 2027:

the subitem 9) of Item 7 of Requirements is effective in the following edition:

"9) order of interaction with the consumer of financial services and the financial ombudsman in case of settlement of disagreements between the organization and the consumer of financial services;";

the subitem 5) of part one of Item 19 of Requirements is effective in the following edition:

"5) contacts of service of the financial ombudsman.";

the subitem 5) of part one of Item 29 of Requirements is effective in the following edition:

"5) procedure for submission of addresses, terms of their consideration by the organization, and also the right to address the financial ombudsman.";

the Item 3 lines of the eighth table of appendix 1 to Requirements is effective in the following edition:

"3. The right to the address to the financial ombudsman in the presence of dispute with the organization.";

the subitem 10) of item 4 of appendix 5 to Requirements is effective in the following edition:

"10) in writing to address the financial ombudsman according to item 4 of article 9-2 of the Law.";

the part five of Item 2 of appendix 6 to Requirements is effective in the following edition:

"In case of receipt of the decision of the organization on refusal in change of terms of the contract or in case of not achievement of the mutually acceptable decision on change of terms of the contract, you have the right within three months from the date of receipt of such decision to address the financial ombudsman.";

the part three of appendix 7 to Requirements is effective in the following edition:

"In case of receipt of the decision of the organization on refusal in change of terms of the contract or in case of not achievement of the mutually acceptable decision on change of terms of the contract, the borrower - the physical person has the right within three months from the date of receipt of such decision to address the financial ombudsman.".

Approved by the Resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of May 15, 2026 No. 92

Requirements to implementation of microfinancial activities

Chapter 1. General provisions

1. Requirements to implementation of microfinancial activities (further - Requirements) are developed according to Item 3 of article 3-1 of the Law of the Republic of Kazakhstan "About microfinancial activities" (further - the Law) and determine requirements to implementation of microfinancial activities by the organizations performing microfinancial activities including:

the list of data which shall contain rules of provision of the microcredits;

the principles of fair behavior by provision of the microcredits;

procedure for disclosure of information by provision of the microcredits and consultation of clients;

procedure of responsible microcredit;

procedure for the conclusion of the contract on provision of the microcredit with physical person which is not connected with implementation of business activity, including the requirement to its content, registration, compulsory provisions;

types and signs unfair the practician, and also procedure for their identification by provision of the microcredits;

procedure and responsible business practicians to debt collection during the work with insolvent clients;

procedure for consideration by the organizations performing microfinancial activities of addresses of the clients arising in the course of provision of microfinancial services;

requirements to development and implementation of actions, directed to increase in level of financial literacy of clients;

regulations on operating procedure with clients, including:

procedure for provision of services to persons with disability and to handicapped national groups taking into account requirements of the national standard for availability of departments of the financial organizations for provision of services to persons with disability and to other handicapped national groups;

features of provision of services to persons with disability and to handicapped national groups with participation of the authorized representative.

2. In Requirements the concepts provided by the Civil code of the Republic of Kazakhstan (further - the Civil code), by the Law of the Republic of Kazakhstan "About state regulation, control and supervision of the financial market and the financial organizations" (further - the Law on state regulation), the Law of the Republic of Kazakhstan "About joint-stock companies", the Law of the Republic of Kazakhstan "About economic partnerships", the Law of the Republic of Kazakhstan "About partnerships with the limited and accessorial liability", the Law of the Republic of Kazakhstan "About credit partnerships", the Law, and also the following concepts are used:

1) consultation - information and (or) explanations on microfinancial activities provided by the organization performing microfinancial activities and (or) the authorized agent to the consumer of financial services;

2) credit line - the obligation of the organization performing microfinancial activities to credit the borrower on the conditions allowing the borrower most to determine time of receipt of the microcredit, but within the amount and time determined by rules of provision of the microcredits and the agreement on provision (opening) of credit line;

3) the agreement on provision (opening) of credit line - the agreement on provision of the microcredit signed on the conditions allowing the borrower most to determine in the agreement (agreements) which is (being) integral (integral) part (parts) of the agreement on provision (opening) of credit line, the amount and time of receipt of the microcredit, but within the amount and time determined by rules of provision of the microcredits and the agreement on provision (opening) of credit line;

4) refinancing - provision of the microcredit for the purpose of complete or partial repayment of one or several operating microcredits in this organization performing microfinancial activities;

5) financial product - the service offered by the organization performing microfinancial activities, to consumers of financial services within activities implementation, the stipulated in Clause 3 Laws;

6) the co-borrower - the physical person or legal entity which is signing the agreement on provision of the microcredit together with the borrower, and acting under the agreement on provision of the microcredit as solidary actionee of obligations on return of the received microcredit, including remuneration;

7) additional service - financial product and (or) other service (work, service) offered the consumer of financial services - to physical person on its own behalf and (or) at the request of the third party along with receipt of the main financial product which are not obligatory owing to the legislation of the Republic of Kazakhstan and which receipt the consumer of financial services has the right to refuse smoothly the organization performing microfinancial activities in provision of the main financial product if other is not stipulated by the legislation the Republic of Kazakhstan;

8) the overpayment amount on the microcredit - the amount of all payments of the borrower under the agreement, including the amount of remuneration, penalties (penalty, penalty fee), except for microcredit subject;

9) the key information document - the standardized document containing the main information on financial product in short and available form including information on features, conditions and risks of financial product. The key information document is provided to the organization performing microfinancial activities, to the consumer of financial services - physical person:

on the microcredits which are not connected with implementation of business activity to the conclusion of the agreement on provision of the microcredit;

on other financial products in the cases and procedure determined by internal documents of the organization performing microfinancial activities;

10) remuneration - the payment for the provided microcredit determined in percentage expression to the microcredit amount at the rate of the annual size of the money which is due to the organization;

11) external refinancing - provision of the microcredit for the purpose of complete or partial repayment of one or several operating microcredits and (or) bank loans in other organization performing microfinancial activities and (or) bank of the second level;

12) the authorized agent - the physical person or legal entity consisting in the register of authorized agents of the organization performing microfinancial activities, and rendering to it based on the contract of the order of service in customer acquisition, verification of documents for compliance the established organization performing microfinancial activities, to requirements and transfer of the specified documents of the organization performing microfinancial activities;

13) the organization - the organization performing microfinancial activities (the microfinancial organization, credit partnership, pawnshop);

14) the agreement - the agreement on provision of the microcredit according to which the organization provides to the borrower the microcredit.

3. The organization provides services according to the Law, Requirements, rules of provision of the microcredits and internal documents of the organization.

Chapter 2. The list of data which shall contain rules of provision of the microcredits

4. The organization performs the activities in the presence of rules of provision of the microcredits approved by its supreme body.

5. Rules of provision of the microcredits are open information and cannot be subject of trade secret or the mystery of provision of the microcredit.

6. Rules of provision of the microcredits are stated with observance of regulations of the literary language and terms of law, with disaggregation of the used terms, their provisions contain the accurate and not subject to different interpretation sense.

7. Rules of provision of the microcredits contain the following data and procedures:

Limiting 1) amounts and terms of provision of the microcredit;

Limiting 2) sizes of rates of remuneration on the provided microcredits;

3) requirements to the providing accepted by the organization;

4) decision making deadlines about provision of the microcredit;

5) procedure for consideration of addresses of consumers of the financial services arising in the course of provision of the microcredits taking into account the requirements provided by Chapter 8 of Requirements;

6) rights and obligations of the organization and consumer of financial services, their responsibility;

7) conditions of provision of the financial products connected with provision of the microcredits including procedure for evaluating suitability of the microcredit for the consumer of financial services, procedure and imprisonment terms, change and agreement cancelation, the requirement to method of ensuring obligation fulfillment, procedure for provision and repayment of the microcredit, order of interaction with the insolvent borrower, including procedures of the address of collection regarding pledge;

8) regulations on operating procedure with clients;

9) order of interaction with the consumer of financial services and the microfinancial ombudsman in case of settlement of disagreements between the organization and the consumer of financial services;

10) other conditions, requirements and restrictions which the supreme body of the organization considers necessary to include in rules of provision of the microcredits.

8. Rules of provision of the microcredits contain the Section on procedure for provision of services to persons with disability and to handicapped national groups taking into account requirements of the national standard for availability of departments of the financial organizations for provision of services to persons with disability and to other handicapped national groups, and also feature of provision of services to persons with disability and to handicapped national groups with participation of the authorized representative which provides:

1) features of interaction;

2) available forms of receipt of information;

3) participation of the authorized representative.

Chapter 3. The principles of fair behavior by provision of the microcredits

9. The governing body of the organization provides compliance of internal documents of the organization, business processes, systems of motivation and remuneration, and also business practice of the organization to the principles of fair behavior when implementing microfinancial activities including:

1) conscientiousness - implementation of activities in consumer interests of financial services without abuse of their trust;

2) non-admission of predictable loss - taking measures to prevention of losses and other adverse effects for the consumer of financial services, proceeding from assessment of possible risks in case of development, sale and servicing of financial products.

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