Kazakhstan to impose ban to low-income families on taking loans

AKIPRESS.COM - The National Bank of Kazakhstan plans to impose ban to Kazakhstanis with low incomes on receiving unsecured loans by the end of this year, Vlast.kz reports.
Chief of the regulator Erbolat Dosayev during the government session on Monday said that the relevant measures will be aimed at prohibiting charging late charge, commissions and other payments on unsecured loans with past due debt of more than 90 days, ban for providing loans to citizens with income less than minimum wage, regulation measures aimed at discouragement of issuance of unsecured loans, especially to those with low income.
Dosayev noted that a law on restrictions of systematic risks concerning uncontrolled growth of debt loan of the population was adopted in July 2019.