Kazakhstan's Problem Loan Fund can now recover money from debtors' accounts without a separate court order for loans transferred to it. Bad debts can be restructured or fully written off, reports infohub.kz.
The fund will acquire problem loans from the National Bank, banks, and former banking institutions. The debtor, pledgor, or guarantor's consent is not required for the creditor change.
The new powers apply to loans with arrears exceeding 90 days, those restructured at least three times, or where deferral has lasted more than a year.
After 90 days of arrears, the fund can hire collectors and send a payment request to the bank. It can recover the principal, interest, fees, fines, and penalties from the account.
At the same time, the debtor may be offered a deferral or installment plan, a grace period, flexible payment schedule, and partial cancellation of debt, interest, or penalties.
Full debt write-off is allowed only after exhausting all collection methods, such as the debtor's bankruptcy, termination of enforcement proceedings, death without heirs, or a court decision.
The resolution text is available on the portal of regulatory legal acts. The new rules take effect on July 20, 2026.
Earlier, the fund's former head was detained for abuse of power, with state damage estimated at 11.4 billion tenge.