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Banking sector. Business support measures

18 March 2020
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Kazakhstani banks are ready to support the business during the state of emergency.

Support measures: 

- No penalties or fines will be charged for late payments that occurred during the emergency period (from March 16 to April 15). Individuals are not automatically charged. Legal entities should contact the creditor bank;

- After the adoption and entry into force of the relevant amendments to the legislation of the National Bank of Kazakhstan for the period of the state of emergency will cease to charge interest on unsecured consumer loans of individuals for which the delay in payment is more than 90 days. There is no need to apply to the bank;

- For individuals and SMEs, whose financial situation has deteriorated due to the emergency, the possibility of granting a grace period of up to 90 days and the corresponding revision of the repayment schedule will be considered.

Banks accept requests and applications on their websites via e-mail, online banking or call centres. Contacts are available on the website of the Atameken NCE RK.

After reviewing the application, the bank will additionally request the necessary documents confirming the deterioration of the borrower's financial position as a result of the emergency and will inform the borrower about the results of the review.

Source: Association of Financiers of Kazakhstan


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