{"id":9874,"date":"2018-06-08T15:07:35","date_gmt":"2018-06-08T15:07:35","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=9874"},"modified":"2018-06-08T15:07:35","modified_gmt":"2018-06-08T15:07:35","slug":"proposed-amendments-to-regulate-the-kazakhstani-online-loan-market","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/proposed-amendments-to-regulate-the-kazakhstani-online-loan-market\/","title":{"rendered":"Proposed amendments to regulate the Kazakhstani online loan market"},"content":{"rendered":"<p>The National Bank of Kazakhstan has developed a number of amendments that will regulate online lending. Specifically, the amendments will:<\/p>\n<ol>\n<li>Require loans be issued only in the national currency<\/li>\n<li>Establish a maximum annual effective interest rate of 100% of the loan amount<\/li>\n<li>Set maximum total repayment amounts (including penalties, fees and other sums under the loan agreement)<\/li>\n<li>Set maximum penalties for loan agreement violations at 0.5% of the unfulfilled amount per day and 10% of the loan amount issued per year<\/li>\n<li>Disallow the indexation of payments with a foreign currency<\/li>\n<li>Disallow changes in agreed upon amounts that would represent an increase for the borrower<\/li>\n<\/ol>\n<p>Additionally, any loan agreement found to violate the other proposed amendments will be nullified, with borrowers having the right to not fulfill any payment obligations in such cases. The National Bank will also place a loan calculator on its website to help borrowers in calculating the annual effective interest rate of their loans.<\/p>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-9874 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='Azerbaijan to delay VAT implementation on electronic payments'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/azerbaijan-to-delay-vat-implementation-on-electronic-payments\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2017\/11\/Azerbaijan-to-delay-VAT-implementation-on-electronic-payments-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-6938\" loading=\"lazy\" srcset=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2017\/11\/Azerbaijan-to-delay-VAT-implementation-on-electronic-payments-150x150.jpg 150w, https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2017\/11\/Azerbaijan-to-delay-VAT-implementation-on-electronic-payments-100x100.jpg 100w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-6938'>\n\t\t\t\tAzerbaijan to delay VAT implementation on electronic payments\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='BFC FinTech Monitor (11th \u2014 21st April)'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/bfc-fintech-monitor-11th-21st-april\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2022\/04\/c6666b42-ea97-23ac-d863-5741e9cd38c51-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-16641\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-16641'>\n\t\t\t\tBFC FinTech Monitor (11th \u2014 21st April)\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Russia debates the personal nature of Big Data'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/russia-debates-the-personal-nature-of-big-data\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/10\/russia-debates-the-personal-nature-of-big-data-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-13893\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-13893'>\n\t\t\t\tRussia debates the personal nature of Big Data\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The National Bank of Kazakhstan has developed a number of amendments that will regulate online lending. Specifically, the amendments will: Require loans be issued only in the national currency Establish a maximum annual effective interest rate of 100% of the loan amount Set maximum total repayment amounts (including penalties, fees and other sums under the &hellip;<\/p>\n","protected":false},"author":5,"featured_media":9919,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,76],"tags":[129,75],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/9874"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=9874"}],"version-history":[{"count":3,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/9874\/revisions"}],"predecessor-version":[{"id":10010,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/9874\/revisions\/10010"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media\/9919"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=9874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=9874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=9874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}