Article 17. Responsibilities of the credit bureau The Law on Credit Bureaus and Formation of credit histories in the Republic of Kazakhstan

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Article 17. Responsibilities of the credit bureau The Law on Credit Bureaus and Formation of credit histories in the Republic of Kazakhstan

1. The credit bureau is obliged to:

1) to form credit histories;

2) submit credit reports if there is confirmation of obtaining the consent of the subject of the credit history, with the exception of the case provided for in paragraph 4 of Article 25 of this Law.;

3) to prevent the disclosure of information contained in credit histories, including information constituting a banking secret, except in cases provided for by this Law;

4) submit a corrected credit report to the recipient of the credit report and the subject of the credit history if the credit report submitted to the recipient, as a result of the actions or omissions of the credit bureau staff, contained information that did not correspond to the information provided to the credit bureau by the information providers, within five calendar days from the date of detection of the specified discrepancy.

If it is necessary for the information provider to confirm that the credit report issued by the credit bureau is inconsistent, the deadline for submitting the corrected credit report to the recipient of the credit report and the subject of the credit history is calculated from the moment the credit bureau receives the relevant information from the supplier.;

5) at the request of the subject of the credit history, provide him with information about the information provider who provided the information disputed by the subject of the credit history;

6) refuse to submit a credit report if the request for its submission is made in violation of the requirements established by the legislation of the Republic of Kazakhstan.;

IZPI's note! Subparagraph 7) is provided for in the wording of 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).

7) submit reports to the National Bank of the Republic of Kazakhstan in accordance with the regulatory legal act of the National Bank of the Republic of Kazakhstan;

8) contact the information provider with a request to correct or supplement the received information, which, if there are appropriate grounds, must be reissued or clarified.;

9) upon receipt of information from the information provider, make changes and additions to the credit history of the relevant entity no later than the next business day, with the exception of the information provided for in part two of paragraph 2 of Article 19 and subparagraph 1-1) of paragraph 5 of Article 24 of this Law, which must be entered into the credit history of the relevant entity in real time.;

10) apply to a credit bureau with state participation to verify the accuracy of information stored in the credit bureau's database of credit histories, as well as make adjustments to information that does not correspond to information stored in the credit bureau's database of credit histories with state participation. The procedure and conditions for contacting a credit bureau with state participation and making adjustments to the credit bureau's databases are established by the authorized body.;

10-1) require information providers specified in subitems 2), 3-1) and 4) of paragraph 1 of Article 18 of this Law and recipients of credit reports specified in subitems 2), 3), 4-2), 4-4) and 4-5) of the first part of paragraph 1 of Article 20 of this Law, compliance with the requirements for the use of information and communication technologies and ensuring information security in the organization of their activities;

11) use electronic information resources and information systems in accordance with the legislation of the Republic of Kazakhstan;

12) ensure the equality of all information providers and recipients of credit reports that make up the group for the main type of activity;

13) comply with other requirements established by the legislation of the Republic of Kazakhstan and (or) agreements on the provision of information and (or) on obtaining credit reports.

2. A credit bureau with state participation, in addition to the duties specified in paragraph 1 of this Article, is obliged to:

1) provide information on credit scoring and other information related, inter alia, to the calculation of credit scoring, at the request of the authorized body, while the information received is not subject to disclosure;

2) on a monthly basis, no later than the fifth day of the month following the reporting month, provide information on nominal and annual effective interest rates on loans as of the date of conclusion of bank loan agreements and microcredit agreements to the authorized body.

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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Republic of Kazakhstan

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