On September 30, 2026, the Financial Ombudsman Service council elected a chief financial ombudsman and ombudsmen for four sectors: banking, microfinance, insurance, and the securities market. The Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market (ARDFM) reported the appointments. The elections took place under the January 16, 2026, Law of the Republic of Kazakhstan “On Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan on the Regulation and Development of the Financial Market, Communications, and Bankruptcy.”
The unified service itself will launch on January 1, 2027. It will merge three existing institutions—the banking, microfinance, and insurance ombudsmen—and extend the consumer protection mechanism to brokerage services for the first time.
Who will lead the service
Mariya Khadzhiyeva was elected chief financial ombudsman and securities market ombudsman. She previously worked at the Ministry of Justice, the National Bank, and financial supervisory authorities, serving as ARDFM deputy chairwoman from 2019 to 2025.
Ruslan Ibragimov will head the banking sector. He has worked in the banking ombudsman’s office since 2016 and has experience with non-performing loans.
Nazgul Yesteusizova was elected microfinance ombudsman. She previously headed the National Chamber of Collectors of Kazakhstan and has held the microfinance ombudsman post since December 2024.
The insurance sector was entrusted to Kanat Aligulov, who managed claims settlement divisions at Nomad Insurance and Freedom Finance Insurance. Freedom Finance Insurance is a Kazakhstani insurance company part of the Freedom group, headquartered in Almaty and founded in 2018.
What changes for consumers
After the service launches on January 1, 2027, a single institution will handle complaints against banks, MFIs, insurance companies, and brokers, replacing several fragmented bodies. The ARDFM approved the service’s operational rules, which take effect on the same date.
A financial ombudsman’s decision does not automatically become binding. The law stipulates that it is binding on the subject of behavioral supervision—a bank, MFI, insurance company, or broker—only if the consumer agrees to the decision in writing. If a financial organization fails to execute a binding decision on time, the service must notify the regulator within three working days.
Reviewing financial consumer complaints will remain free of charge.
Priorities and tasks
The service is tasked with reviewing appeals, settling financial product disputes pre-trial, and helping individuals settle debts based on their financial capabilities. Priority areas listed in the press release include digitalizing processes, developing individual and collective debt settlement—including through the Finkelisim.kz platform—and interacting with the “Qaryzsyz Qogam” (Debt-Free Society) project.
A separate task for the service is analyzing incoming appeals to identify systemic problems and recurring practices among supervised organizations, as well as preparing proposals to improve consumer protection.