Kazakhstanis Will Not Face New Loan Restrictions
AI-generated illustration
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
Read also:
Latest news
- Two Injured Russian Climbers Rescued From Almaty Mountains
- Kazakhstan Denies Reports of Full CPC Shutdown
- South Korea to Help Kazakhstan Forecast Demographic Change
- Almaty Waste Company Stake to Return to State After Undervalued Sale
- Inspection of Former Almaty Akim’s Family Project Declared Illegal
- Kazakhstan Could Refine Russian Oil as Russia Faces Fuel Shortages
- Who Is Behind the Company Searching for Copper Near Atbasar?
- Almaty Airport to Take Out $670 Million Loan
- Kazakhstani Woman Dies in Belgrade, Father Suspects Her Friends Were Involved
- Who Will Keep Health Coverage Under Kazakhstan’s New Rules?
- Fake Journalists Tricked Karaganda Official Into Taking Out Loan
- Pavel Durov Declared a “Terrorist” in Russia
- Lawsuit Pushes Oskemen Authorities to Adopt New Alert Rules After Kazzinc Explosion
- Emergency at Pavlodar Power Plant: Two Workers Seek Medical Help
- What Back-to-School Aid Has Been Promised to Vulnerable Families?
- Employment Falls at Kazakhstan’s Small and Medium Businesses
- How Much Will It Cost to Ride Astana’s LRT From August 1?
- KASE and AIX Record Sharp Rise in Trading Activity
- Ten-Year Record: More Kazakhstanis Are Losing Their Driver’s Licenses
- What Can Tourists Expect? Kazakhstan Approves New Rules for Visitor Centers
