Article 3-1. General requirements for microfinance activities of the Law on Microfinance Activities
1. Microfinance organizations (with the exception of credit partnerships and pawnshops), when interacting with consumers of financial services, are required to comply with responsible business practices in the financial market, providing for a set of principles and actions aimed at ensuring honest, transparent and fair treatment of consumers of financial services, including in relation to:
1) Financial product management;
2) disclosure of information on the provision of microcredit;
3) prevention of unfair practices at all stages of interaction with consumers of financial services;
4) consideration of appeals from consumers of financial services;
5) improving the level of financial literacy of clients through the development and implementation of appropriate measures.
The requirements for responsible business practices in the financial market are established by Chapter 2-4 of the Law of the Republic of Kazakhstan "On State Regulation, Control and Supervision of the Financial Market and Financial Organizations".
2. Organizations engaged in microfinance activities (hereinafter referred to as microfinance organizations) carry out their activities in the presence of rules for the provision of microcredit approved by their highest authority.
3. The rules for granting microcredits must comply with the requirements for the implementation of microfinance activities established by the regulatory legal act of the authorized body.
The requirements for the implementation of microfinance activities are as follows:
1) a list of information that should contain the rules for granting microcredits;
2) the procedure for disclosing information when providing micro-loans and advising clients;
3) the procedure for concluding a micro-loan agreement with an individual that is not related to business activities, including the requirements for its content, design, and mandatory conditions;
3-1) the procedure for providing a micro-loan electronically;
4) principles of good faith in the provision of microcredit;
5) types and signs of unfair practices, as well as the procedure for their identification when providing micro-loans;
6) procedures and responsible business practices for debt collection when dealing with insolvent clients;
7) the procedure for consideration by a microfinance organization of customer requests arising in the process of providing microfinance services;
8) requirements for the development and implementation of measures aimed at improving the level of financial literacy of clients.
The rules for granting microcredits, in addition to the information, the list of which is established by the regulatory legal act of the authorized body specified in part one of this paragraph, must contain a provision on the procedure for working with clients, including:
the procedure for providing services to persons with disabilities and low-mobility groups of the population, taking into account the requirements of the national standard for the accessibility of branches of financial organizations providing services to persons with disabilities and other low-mobility groups of the population;
the specifics of providing services to people with disabilities and people with limited mobility with the participation of a trusted person.
4. The rules for granting microcredits are open information and cannot be the subject of trade secrets or secrets of providing microcredits.
5. Microfinance organizations have the right to use artificial intelligence in carrying out their activities and (or) providing services in order to assess and manage risks.
Microfinance organizations are responsible for decisions made using artificial intelligence systems.
The Law of the Republic of Kazakhstan dated November 26, 2012 No. 56-V.
The article was amended and supplemented by the Law of the Republic of Kazakhstan dated July 23, 2026, No. 352-VIII SAM.
This Law regulates public relations related to the provision of micro-loans, establishes the specifics of the creation and reorganization of organizations engaged in microfinance activities, the legal status, activities of organizations engaged in microfinance activities, and also defines the specifics of state regulation of organizations engaged in microfinance activities, control and supervision of their activities.
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