The introduction of a nationwide system for assessing family wellbeing will not affect lending to Kazakhstanis, National Bank Chairman Timur Suleimenov said at a briefing, according to infohub.kz.
The head of the National Bank stressed that the financial sector is digitized and integrated with government databases. "This applies both to us, the owners of the national financial infrastructure, and to second-tier banks. The State Credit Bureau and the First Credit Bureau ensure integration with various databases, including those on property, individual incomes and so on. When you apply for a loan, you sign consent for the bank to receive information about your credit history. This is needed so that the bank does not treat you as a completely new client but has an idea of your income, pension contributions, property and other data," he explained.
According to Timur Suleimenov, these processes have long been digitized at banks, and they can see the risk profile of each Kazakhstani well enough.
"I do not see any additional risks here. Our financial system is already quite well digitalized. I think this does not matter to the bank (which wellbeing criteria will be used — editor's note). Banks have their own scoring models, and they are far more advanced. They depend on the policy of a particular bank. Banks have long had their own categories of borrowers. Therefore, in my view, the introduction of a nationwide system for assessing family wellbeing will not affect lending in any way," the head of the National Bank is confident.
Recall that from January 1, 2027, some types of benefits in Kazakhstan will be provided on the principle of need — based on an objective assessment of a family's level of social wellbeing.
It was previously reported which Kazakhstanis will be assigned to categories A (wealthy), B (well-off), C (with income from 305,000), as well as D (on the poverty line) and E (the most vulnerable category). It was also explained how to determine which wellbeing category a family in Kazakhstan falls into.