Kazakhstan introduces new approaches to ease the debt burden of people with disabilities. The ARDFM offers individual case review, restructuring, preferential terms, and bankruptcy procedures. This was reported by Qazaqyia.kz citing Kursiv Media.
Nearly 26,000 Kazakhstanis with disabilities have problem loans totaling 48 billion tenge. The Agency for Regulation and Development of the Financial Market (ARDFM) has outlined measures to help reduce debt burden and negotiate with creditors without going to court.
Kazakhstan is changing its approach to dealing with the debt of people with Group I and II disabilities. Instead of a one-size-fits-all solution, each borrower's situation will be considered individually, taking into account income, property status, family composition, and other life circumstances.
According to the ARDFM, more than 105,600 Kazakhstanis with Group I and II disabilities currently have loans totaling 262 billion tenge. Of these, 26,300 people have problem debts amounting to 48 billion tenge. In Almaty, about 10,000 people with disabilities face difficulties in repaying loans, with a total debt of 8.6 billion tenge.
For this category of citizens, the ARDFM, together with the Almaty akimat, the Ministry of Labor and Social Protection, and the Ministry of Justice, is implementing a pilot project for comprehensive debt resolution.
Borrowers may be offered debt restructuring, reduced debt burden, payment deferrals, extended loan terms, or a new repayment schedule. If solvency cannot be restored, citizens will be informed about the bankruptcy procedure.
"This is not about a general write-off of debts, but about creating conditions under which a citizen can restore solvency and fulfill obligations on affordable terms," said Alexander Terentyev, Director of the Department of Social Projects and Financial Literacy at the ARDFM.
Since July 1, 2026, the digital platform finkelisim.kz has been operational, allowing borrowers with multiple loans to submit a single application for debt resolution. The service is available to citizens with overdue debts of more than 90 days to two or more creditors, provided the debt amount ranges from 648,000 to 6.9 million tenge.
For socially vulnerable categories, softer repayment conditions are provided, including reduced monthly payments and extended repayment periods. At the first stage, about 350,000 problem borrowers could become potential participants of the platform.
From January 1, 2027, new rules for the financial ombudsman will come into effect, and in the future, all assistance mechanisms are planned to be consolidated into a Single Debt Resolution Center.
Earlier, Kursiv reported that the ARDFM approved new rules requiring banks, microfinance organizations, and insurance companies to ensure that the loan or other product offered to a client is indeed suitable for them.