One service instead of dozens of requests: a platform for debt resolution on loans is being launched in Kazakhstan
The Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market, together with the First Credit Bureau, has developed a unified digital platform finkelisim.kz for settling loan debts. The digital platform finkelisim.kz will start functioning on July 1, 2026, based on the banking and microfinance ombudsmen following a “one-stop shop” mediation process.
Who is the platform for?
The new service is intended for citizens with overdue debts on unsecured consumer loans, which are loans not backed by collateral, owed simultaneously to multiple creditors such as banks, microfinance organizations, or collection agencies.
Now, the borrower will not need to contact each creditor individually for debt resolution. He will be able to submit a single application on the finkelisim.kz platform, which will be considered by all creditors to whom he is indebted.
Participation in the collective resolution procedure is free for the borrower, except for mediator services. However, until January 1, 2027, costs for mediator services will be covered by the banking and microfinance ombudsmen.
The finkelisim.kz platform automatically collects data about the borrower's debts to all creditors and compiles the information needed for application review.
Based on the review of the application and agreement on terms with the creditors, the borrower may be offered a unified repayment schedule for up to 5 years, and for socially vulnerable categories of citizens and recipients of targeted social assistance, up to 7 years.
Who can apply on the platform?
The borrower can apply on the platform if he meets the following conditions simultaneously:
However, borrowers with the following cannot participate in the collective resolution procedure:
How is the borrower's application reviewed on the platform?
First, the borrower registers on the platform and undergoes biometric identification to confirm identity and prevent third-party application submissions. After that, he submits the application for debt resolution.
The platform then automatically verifies via credit bureau data if the borrower meets the conditions for collective resolution.
If the borrower meets the established conditions, the platform compiles a list of loans eligible for resolution and sends this information to the creditors.
Creditors verify the loan details and confirm the debt amount. Afterwards, documents for signing are sent to the borrower on the platform: a protocol with the ombudsman's decision, a unified debt repayment schedule, an agreement with the mediator, and mediated agreements with each creditor.
The borrower must review the proposed terms and sign the documents on the platform within 72 hours. If the documents are not signed within this period, it will be considered a refusal to participate in the resolution procedure.
After the documents are signed, the creditors suspend debt collection on the loans included in the resolution procedure.
The borrower then makes payments according to the unified schedule, and the platform distributes the funds among the creditors proportionally to the debt size.
Information about the application of the collective resolution procedure and its completion will be sent to the credit bureaus by the creditors.
If the borrower does not comply with the terms of the signed agreements, the creditor, after 40 days of payment delay, has the right to collect the debt in accordance with the law.
Repeat participation in the collective debt resolution procedure by the borrower is not allowed.
Borrowers unable to fulfill credit obligations may consider applying for the extrajudicial bankruptcy procedure if they meet the conditions provided by the Law of the Republic of Kazakhstan "On Restoration of Solvency and Bankruptcy of Citizens of the Republic of Kazakhstan".
Details on how to apply for extrajudicial bankruptcy of an individual can be found on the electronic government portal egov.kz via the link: https://egov.kz/cms/ru/services/economics/pass_P1_mf
How will the unified debt repayment schedule be formed?
The unified schedule will be formed considering the borrower's total debt amount
For borrowers on general terms:
-for total debt up to 1 million tenge, the maximum monthly payment will be 84,000 tenge for 12 months
-for total debt from 5 to 7 million tenge, the maximum monthly payment will be 117,000 tenge for 60 months
For borrowers belonging to socially vulnerable groups and recipients of targeted social assistance, more lenient conditions are provided:
-for total debt up to 1 million tenge, the maximum monthly payment will be 56,000 tenge for 18 months
-for total debt from 5 to 7 million tenge, the maximum monthly payment will be 84,000 tenge for 84 months