Kazakhstan continues its mortgage refinancing program, offering an annual rate of no more than 3%, along with write-offs of interest and penalties, and additional support for socially vulnerable borrowers. Officials from the Agency for Regulation and Development of the Financial Market announced this at a briefing in Almaty, according to infohub.kz.
Under the program, foreign-currency mortgage loans issued before January 1, 2016, are converted to tenge at a fixed rate of 188.35 tenge per dollar. Socially vulnerable borrowers may receive full or partial write-offs on previously refinanced loans and have the opportunity to reclaim their only home if it had been transferred to the bank's balance sheet.
According to the agency, the total support provided through the revolving mechanism has reached 678 billion tenge. Around 60,000 mortgage borrowers have received assistance. The share of mortgage loans overdue by more than 90 days fell from 30% in 2015 to 0.6% as of June 1, 2026.
Additionally, since July 1, 2026, Kazakhstan has launched a unified digital platform for collective debt settlement, finkelisim.kz. The service operates on a one-stop-shop principle, allowing borrowers to simultaneously settle obligations with multiple creditors. After applying, the system checks the borrower's eligibility, compiles a list of loans, and sends the data to creditors. Once terms are agreed, the borrower signs a single package of documents, and creditors suspend debt collection measures.
The main advantage of the platform is that creditors assess the borrower's total debt load rather than each loan individually. Citizens who are more than 90 days overdue on unsecured consumer loans from two or more creditors are eligible. Socially vulnerable citizens receive reduced monthly payments and extended repayment periods. In the initial phase, around 350,000 distressed borrowers could potentially participate.