A new rule takes effect in Kazakhstan on October 12, 2026: borrowers can reject an issued unsecured loan within the first two weeks without paying penalties. LS reports this, citing the enacted resolution by the Agency for Regulation and Development of the Financial Market (ARDFM).
According to Tengrinews, the regulator adopted the document on August 3, 2026, and officially published it on August 12.
How the rejection works
The right to reject applies only to unsecured loans. The client has 14 calendar days from the moment the contract is signed to cancel the deal. Banks and microfinance organizations are prohibited from charging forfeit or penalties for this.
However, canceling the loan does not mean free use of the money. The borrower must pay the accrued interest for the actual number of days the borrowed funds were used.
A similar mechanism applies to voluntary insurance policies issued alongside the loan. Upon rejection, the client receives a refund of the insurance premium proportional to the time the policy was active.
Digital passports and transparency
Financial organizations must inform the client about the right to reject before signing the contract.
As Kursiv notes, the new ARDFM requirements cover all stages of the product’s life cycle. For each loan, banks must create a separate digital passport detailing real interest rates, fees, risks, and the target audience. Creditors are also prohibited from calling a product free if the client must meet additional conditions to get it.
Why it matters
Creditors will need to rebuild their client information processes prior to contract signing, as well as adjust internal procedures for processing rejections and calculating interest.