On October 1, 2026, Kazakhstan changed its rules for issuing unsecured consumer online loans. Banks and microfinance institutions (MFIs) must now conduct a preliminary survey of individuals before approving a loan. The Agency for Regulation and Development of the Financial Market (ARDFM) announced the requirement on its official Telegram channel.
The survey’s main goal is to prevent fraudulent loans, where citizens apply for credit under psychological pressure from scammers and transfer the money to them.
Before issuing a loan, the institution will ask the client who suggested taking the loan, what the funds are for, and whether they are acting under someone else’s direction. The borrower must also confirm they are applying independently and understand the contract terms: the amount, term, interest rate, and payment schedule.
If the answers raise suspicions, the financial institution will conduct an additional check and warn the client about the risks. The new requirements apply to second-tier banks, Islamic banks, branches of non-resident banks, organizations conducting specific banking operations, and MFIs.
Simultaneously, on October 1, the procedure for external refinancing changed. A bank must now obtain the borrower’s consent to transfer the refinancing amount directly to the institution where the primary loan was issued, bypassing direct payouts to the client.
Finteqstan previously reported that the ARDFM will conduct full-scale cyber exercises for Kazakhstan's banks in 2027. Essentially, the regulator is adding a mandatory verification step to the loan issuance process to reduce social engineering risks during the application stage.