Article 1. The basic concepts used in this Law Chapter 1. General provisions The Law on Credit Bureaus and Formation of credit histories in the Republic of Kazakhstan

Home / RLA / Article 1. The basic concepts used in this Law Chapter 1. General provisions The Law on Credit Bureaus and Formation of credit histories in the Republic of Kazakhstan

The following basic concepts are used in this Law:

1) excluded by the Law of the Republic of Kazakhstan dated 07/14/2022 No. 141-VII (effective ten calendar days after the date of its first official publication);

2) information provision agreement - an agreement concluded between a credit bureau and an information provider on the terms and in accordance with the procedure provided for by this Law;

3) information provider - an individual entrepreneur or a legal entity providing information to a credit bureau;

4) the activity of an information provider to participate in the creation and protection of a database of credit histories - the actions of an information provider to formalize (process), store and transfer to credit bureaus information received from subjects of credit histories in accordance with the requirements of this Law;

5) a written order is a measure of influence of an authorized body applied to a credit bureau, an organization engaged in microfinance activities, or a collection agency;

6) credit bureau - an organization that generates credit histories, provides credit reports, and provides other services;

7) credit report - a form of full or partial issuance of information contained in the credit history;

8) credit report receipt agreement - an agreement concluded between a credit bureau and a recipient of credit reports on the terms and in accordance with the procedure provided for by this Law;

9) recipient of a credit report is a person who has the right to receive a credit report.;

10) credit report provision - the activity of the credit bureau in providing information contained in the credit history;

10-1) credit scoring is an assessment of the creditworthiness of a credit history subject and the probability of fulfilling obligations under loan agreements, expected credit losses, calculated using a mathematical and (or) statistical model based on qualitative and quantitative characteristics.;

11) credit history - a set of information about the subject of the credit history;

12) credit history subject - an individual or a legal entity in respect of which a credit history is being formed;

13) the consent of the credit history subject is the permission of the credit history subject to the information providers specified in subitems 1), 1-1), 2) and 4) of paragraph 1 of Article 18 of this Law to provide information about him to credit bureaus (with the exception of a credit bureau with state participation) or the permission of the credit history subject to issue a credit a report on it to other persons from the credit bureau, drawn up in accordance with the requirements established by the legislation of the Republic of Kazakhstan.;

13-1) consent of the credit history subject for cross-border exchange – the permission of a credit history subject to provide information about him to authorized organizations of a foreign state and (or) to receive information about him from authorized organizations of a foreign state, issued in writing or in the form of an electronic document certified by means of an electronic digital signature, taking into account the need to ensure the identification of this credit history subject in accordance with the legislation of a foreign state or the legislation of the Republic of Kazakhstan. The consent must be signed by the subject of the credit history personally or in any other way equivalent to a handwritten signature in accordance with the legislation of a foreign state or the legislation of the Republic of Kazakhstan.;

13-2) information about the subject of a credit history (hereinafter referred to as information) – information regarding subjects of credit histories in electronic form and on paper, transmitted by participants in the credit history formation system and their use, if necessary, certified by means of an electronic digital signature;

13-3) negative information about a credit history subject is a short form of a credit report on a credit history subject containing information on the liquidation of a credit history subject that is a legal entity by a court decision or on the presence of overdue debts of more than ninety calendar days by a credit history subject, or on the recognition of a credit history subject as bankrupt in accordance with the Law of the Republic of Kazakhstan "On the restoration of solvency and bankruptcy of citizens of the Republic of Kazakhstan

IZPI's note! Article 1 is provided to be supplemented by subparagraph 13-4) in accordance with the Law of the Republic of Kazakhstan dated 30.06.2025 No. 205-VIII (effective sixty calendar days after the date of its first official publication).

13-3) negative information about a credit history subject is a short form of a credit report on a credit history subject containing information on the liquidation of a credit history subject that is a legal entity by a court decision or on the presence of overdue debts of more than ninety calendar days by a credit history subject, or on the recognition of a credit history subject as bankrupt in accordance with the Law of the Republic of Kazakhstan "On restoration of solvency and bankruptcy of citizens of the Republic of Kazakhstan";

13-4) credit history monitoring is an analysis of changes in the credit history of a credit history subject carried out by credit bureaus based on information and information available in the credit history database and other information systems, as well as providing information on identified changes to the credit history subject and (or) recipients of credit reports;

14) the formation of credit histories is an action or a set of actions carried out by a credit bureau in relation to information received by it from information providers in accordance with this Law, for its storage, confidentiality, monitoring, clarification and updating;

15) participants in the credit history formation system and their use - subjects of credit histories, information providers, credit bureaus, recipients of credit reports;

16) database of credit histories - electronic information resources of a credit bureau based on information systems and information processes that meet the requirements established by the legislation of the Republic of Kazakhstan;

16-1) a credit history user is an information provider specified in subparagraph 1) of paragraph 1 of Article 18 of this Law, as well as a legal entity registered in a foreign country that has received the consent of the credit history entity for cross–border exchange in order to formalize credit relations and (or) monitor completed credit relations.;

16-2) real–time mode - a period of time during which an action must be performed immediately or within a period not exceeding one hour.;

16-3) the applicant is a legal entity that has submitted documents to the authorized body in order to obtain a permit for the right to operate a credit bureau and an act on the compliance of the credit bureau with the requirements for the credit bureau to protect and ensure the safety of the database of credit histories, information systems and premises used (hereinafter referred to as the permit).;

IZPI's note! Article 1 is provided to be supplemented by subparagraph 16-4) in accordance with the Law of the Republic of Kazakhstan dated 30.06.2025 No. 205-VIII (effective sixty calendar days after the date of its first official publication).

16-5) cross–border exchange - the exchange of information regarding subjects of credit histories with authorized organizations of a foreign state and credit bureaus on the basis of an appropriate international agreement and agreement on cross-border exchange;

16-6) cross–border exchange agreement - an agreement defining the conditions for cross-border exchange, the procedure and conditions for interaction between authorized organizations of foreign states and credit bureaus in the implementation of cross-border exchange;

17) authorized body - a state body that carries out state regulation, control and supervision of the financial market and financial organizations;

17-1) authorized organization – a legal entity that collects, processes, stores credit histories and submits credit reports in accordance with the legislation of a foreign state;

18) conditional and possible obligations - uncovered letters of credit, issued or confirmed guarantees, promissory notes and sureties.

The Law of the Republic of Kazakhstan dated July 6, 2004 No. 573.

This Law defines the legal, economic and organizational foundations of the formation of credit histories in the Republic of Kazakhstan, the legal status of participants in the system of formation of credit histories and their use, regulates public relations related to the creation, implementation and termination of activities of credit bureaus, the specifics of state regulation, control and supervision in this area.

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