Kazakhstanis Will Not Face New Loan Restrictions
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Kazakhstan’s National Bank and the Agency for Regulation and Development of the Financial Market will not further tighten lending rules for individuals. National Bank chair Timur Suleimenov announced the decision at a government economic bloc meeting, Orda.kz reports.
The decision concerns requirements for debt burden ratios, as well as plans to reduce the annual effective interest rate on mortgages.
We made a joint decision not to tighten the requirements for KDN and KDD, and not to reduce the annual effective interest rate on mortgages,Suleimenov said.
The government believes consumer lending is already slowing. Deputy Prime Minister and National Economy Minister Serik Zhumangarin linked this not only to measures introduced in 2025, but also to market saturation.
Consumer lending does not create fundamentally new demand. It only shifts it over time,Zhumangarin said.
At the same time, the National Bank does not see a systemic cooling of the economy. According to Suleimenov, retail trade has been moderately accelerating since the beginning of the year. He said the slowdown in lending was the expected result of measures to reduce household over-indebtedness and inflationary pressure.
Original author: Saule Abdykamit
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