According to the order of the head of the Regional Representative Office in Turkestan city of the Financial Market Regulation and Development Agency of the Republic of Kazakhstan (hereinafter referred to as the Agency) dated March 28, 2025, the following organization was deprived of its microfinance license: order)

          In accordance with Article 16, paragraph 2, subparagraph 3) of the Law of the Republic of Kazakhstan "On Microfinancial Services", non-compliance with the written instructions of the authorized body on a regular basis (three or more times in twelve consecutive calendar months) was a reason for depriving the license.

According to the requirements of Article 16, Paragraph 9 of the Law of the Republic of Kazakhstan "On Microfinancial Services", a microfinance organization (Credit company) Within thirty calendar days from the date of the decision to revoke the license for microfinance activity, the agency is obliged to carry out the re-registration procedure by removing the words "Credit company" from its name, the words or abbreviations arising from them, which suggest that the specified legal entity carries out microcredit activities, or to make a decision on reorganization or liquidation.

(Credit Company) clients are responsible for breach of obligations to the microfinance organization (Credit Company) in accordance with the terms of the agreements concluded on microcredit.

Source : https://www.gov.kz/memleket/entities/ardfm/press/news/details/969913?lang=kk