[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-109146-en":3,"doc-seo-109146-105":31,"detail-sidebar-cat-0-en-105":92},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":28,"seo_description":14,"update_tm":29,"read_time":30},109146,687197100911,"Himbo","https://ap-avatar.wpscdn.com/avatar/a000239b6f1da00475?x-image-process=image/resize,m_fixed,w_180,h_180&k=1785132997149421697",8,"Research & Report","Financial Consumer Protection and Consumer Lending - Technical Note","Financial consumer protection and consumer lending are examined within Kazakhstan’s Financial Sector Assessment Program (FSAP) context, with emphasis on how rapidly consumer credit has expanded. Analysis covers the consumer lending market, creditworthiness assessments, marketing and sales practices, disclosure and transparency, product distribution, debt collection, borrower assistance, and provider requirements. The note also details mechanisms for external and internal dispute resolution and outlines supervisory arrangements, approaches, processes, and supervisory data for financial consumer protection oversight.","Public Disc losure Authorized  \nMarch 2024  \nPub lic Disc losure Authorized  \nTHE WORLD BANK GROUP  \nREPUBLIC OF KAZAKHSTAN  \nFINANCIAL SECTOR ASSESSMENT PROGRAM  \nTECHNICAL NOTE  \nFINANCIAL CONSUMER PROTECTION AND CONSUMER LENDING  \nPrepared By  \nFinance, Competitiveness, and Innovation Global Practice, WBG  \nThis Technical Note was prepared in the context of a joint IMF-World Bank Financial Sector Assessment Program (FSAP) mission in Kazakhstan during July and August 2023 led by Pierpaolo Grippa, IMF and Pietro Calice, World Bank, and overseen by the Monetary and Capital Markets Department. IMF, and the Finance, Competitiveness, and Innovation Global Practice, World Bank Group. The note contains the technical analysis and detailed information underpinning the FSAP assessment’s findings and recommendations. Further information on the FSA program can be found [at ](at www.worldbank.org/fsap)[www.worldbank.org/fsap](at www.worldbank.org/fsap).  \nCONTENTS  \nACRONYMS AND ABBREVIATIONS_____________________________________________________________ 3  \nEXECUTIVE SUMMARY __________________________________________________________________________4  \nI. INTRODUCTION _______________________________________________________________________________8  \nII. CONSUMER LENDING MARKET ______________________________________________________________9  \nA. Consumer Lending Uptake_____________________________________________________________________ 9  \nB. Consumer Lending by Banks and Non-Bank Lenders__________________________________________13  \nC. Over-Indebtedness____________________________________________________________________________15  \nIII. FINANCIAL CONSUMER PROTECTION FOR CONSUMER LENDING ______________________ 18  \nA. Creditworthiness Assessments ________________________________________________________________19  \nB. Marketing and Sales Practices_________________________________________________________________25  \nC. Disclosure and Transparency__________________________________________________________________31  \nD. Product Development and Distribution _______________________________________________________36  \nE. Debt Collection________________________________________________________________________________38  \nF. Assistance for Borrowers in Difficulty __________________________________________________________40  \nG. Overarching Requirements for Providers______________________________________________________42  \nH. Regulatory Approach _________________________________________________________________________43  \nIV. CONSUMER COMPLAINT RESOLUTION___________________________________________________ 45  \nA. External Dispute Resolution ___________________________________________________________________45  \nB. Internal Dispute Resolution ___________________________________________________________________48  \nV. FCP SUPERVISION __________________________________________________________________________ 49  \nA. Institutional Arrangements____________________________________________________________________49  \nB. Supervisory Approach and Process____________________________________________________________52  \nC. Data for Supervision___________________________________________________________________________55  \nACRONYMS AND ABBREVIATIONS  \nAdvertising Law AEIR  \nARDFM  \nBanking Law BNPLCOVID-19  \nCRPD DSTIEDREUFCPFSAPIDR IMF KZTMDDIAI  \nMFOMFO Law NBFINBK  \nNBK Resolution 136  \nNBK Resolution 137  \nNBK Resolution 232 OECD  \nPersonal Data Protection Law  \nRBS  \nLaw No. 508 of December 19, 2003 on Advertising (as amended) Annual Effective Interest Rate  \nAgency of the Republic of Kazakhstan for Regulation and Development of Financial Markets  \nLaw No. 2444 of August 31, 1995 on Banks and Banking Activities (as amended) Buy Now, Pay Later  \nCoronavirus Disease  \nConsumer Rights Protection Department Debt-Service-to-Income  \nExternal Dispute Resolution European Union  \nFinancial Consumer Protection  \nFinancial Sector Assessment Program Internal Dispute Res","cbCaigejKZfbWbAz","https://ap.wps.com/l/cbCaigejKZfbWbAz","pdf",631303,4,1,57,"English","en",105,"# Executive Summary\n# Introduction\n# Consumer Lending Market\n## Consumer Lending Uptake\n## Consumer Lending by Banks and Non-Bank Lenders\n## Over-Indebtedness\n# Financial Consumer Protection for Consumer Lending\n## Creditworthiness Assessments\n## Marketing and Sales Practices\n## Disclosure and Transparency\n## Product Development and Distribution\n## Debt Collection\n## Assistance for Borrowers in Difficulty\n## Overarching Requirements for Providers\n## Regulatory Approach\n# Consumer Complaint Resolution\n## External Dispute Resolution\n## Internal Dispute Resolution\n# Financial Consumer Protection Supervision\n## Institutional Arrangements\n## Supervisory Approach and Process\n## Data for Supervision","[{\"question\":\"How has consumer lending changed in Kazakhstan from 2019 to 2023?\",\"answer\":\"Consumer lending by banks and non-bank financial institutions more than doubled. More borrowers take more loans, often on longer terms, and refinancing has increased, supported by faster digital distribution and retail products such as buy now, pay later (BNPL).\"},{\"question\":\"What is the main goal of financial consumer protection in the context of consumer lending?\",\"answer\":\"The focus is on preventing and mitigating hardship and other harms that individual consumers may suffer when using financial products and services.\"},{\"question\":\"What dispute resolution channels are covered for consumers?\",\"answer\":\"The note addresses both external dispute resolution and internal dispute resolution mechanisms, describing how complaints can be handled through each route.\"}]","Financial Consumer Protection and Consumer Lending - Technical Note | PDF",1784477281,144,{"code":4,"msg":32,"data":33},"ok",{"site_id":25,"language":24,"slug":34,"title":13,"keywords":35,"description":14,"schema_data":36,"social_meta":87,"head_meta":89,"extra_data":91,"updated_unix":29},"financial-consumer-protection-and-consumer-lending-technical-note","",{"@graph":37,"@context":86},[38,54,69],{"@type":39,"itemListElement":40},"BreadcrumbList",[41,45,49,52],{"item":42,"name":43,"@type":44,"position":21},"https://docshare.wps.com","Home","ListItem",{"item":46,"name":47,"@type":44,"position":48},"https://docshare.wps.com/document/","Document",2,{"item":50,"name":12,"@type":44,"position":51},"https://docshare.wps.com/document/research-report/",3,{"item":53,"name":13,"@type":44,"position":20},"https://docshare.wps.com/document/financial-consumer-protection-and-consumer-lending-technical-note/109146/",{"url":53,"name":13,"@type":55,"author":56,"headline":13,"publisher":58,"fileFormat":61,"inLanguage":24,"description":14,"dateModified":62,"datePublished":63,"encodingFormat":61,"isAccessibleForFree":64,"interactionStatistic":65},"DigitalDocument",{"name":9,"@type":57},"Person",{"url":42,"name":59,"@type":60},"DocShare","Organization","application/pdf","2026-07-30","2026-07-19",true,{"@type":66,"interactionType":67,"userInteractionCount":20},"InteractionCounter",{"@type":68},"ViewAction",{"@type":70,"mainEntity":71},"FAQPage",[72,78,82],{"name":73,"@type":74,"acceptedAnswer":75},"How has consumer lending changed in Kazakhstan from 2019 to 2023?","Question",{"text":76,"@type":77},"Consumer lending by banks and non-bank financial institutions more than doubled. More borrowers take more loans, often on longer terms, and refinancing has increased, supported by faster digital distribution and retail products such as buy now, pay later (BNPL).","Answer",{"name":79,"@type":74,"acceptedAnswer":80},"What is the main goal of financial consumer protection in the context of consumer lending?",{"text":81,"@type":77},"The focus is on preventing and mitigating hardship and other harms that individual consumers may suffer when using financial products and services.",{"name":83,"@type":74,"acceptedAnswer":84},"What dispute resolution channels are covered for consumers?",{"text":85,"@type":77},"The note addresses both external dispute resolution and internal dispute resolution mechanisms, describing how complaints can be handled through each route.","https://schema.org",{"og:url":53,"og:type":88,"og:title":13,"og:site_name":59,"og:description":14},"article",{"robots":90,"canonical":53},"index,follow",{"doc_id":7,"site_id":25},{"code":4,"msg":5,"data":93},[94,98,102,106,111,116,121,124,129,132,136],{"id":21,"doc_module":4,"doc_module_name":47,"category_name":95,"show_sort_weight":96,"slug":97},"Story & Novel",90,"story-novel",{"id":48,"doc_module":4,"doc_module_name":47,"category_name":99,"show_sort_weight":100,"slug":101},"Literature",80,"literature",{"id":20,"doc_module":4,"doc_module_name":47,"category_name":103,"show_sort_weight":104,"slug":105},"Exam",70,"exam",{"id":107,"doc_module":4,"doc_module_name":47,"category_name":108,"show_sort_weight":109,"slug":110},5,"Comic",60,"comic",{"id":112,"doc_module":4,"doc_module_name":47,"category_name":113,"show_sort_weight":114,"slug":115},6,"Technology",50,"technology",{"id":117,"doc_module":4,"doc_module_name":47,"category_name":118,"show_sort_weight":119,"slug":120},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":47,"category_name":12,"show_sort_weight":122,"slug":123},30,"research-report",{"id":125,"doc_module":4,"doc_module_name":47,"category_name":126,"show_sort_weight":127,"slug":128},9,"Religion & Spirituality",20,"religion-spirituality",{"id":127,"doc_module":4,"doc_module_name":47,"category_name":130,"show_sort_weight":127,"slug":131},"World Cup","world-cup",{"id":133,"doc_module":4,"doc_module_name":47,"category_name":134,"show_sort_weight":133,"slug":135},10,"Lifestyle","lifestyle",{"id":137,"doc_module":4,"doc_module_name":47,"category_name":138,"show_sort_weight":107,"slug":139},19,"General","general"]