Article 19. Rights and obligations of the information provider The Law on Credit Bureaus and Formation of credit histories in the Republic of Kazakhstan

Home / Laws / Article 19. Rights and obligations of the information provider The Law on Credit Bureaus and Formation of credit histories in the Republic of Kazakhstan

1. The information provider has the right:

1) require credit bureaus to use the information provided in accordance with this Law;

2) have other rights in accordance with the legislative acts of the Republic of Kazakhstan and (or) agreements on the provision of information and (or) on obtaining credit reports.

3) receive information previously provided by the credit bureau from the credit bureau.

2. The information providers specified in subitems 1), 1-1), 2) and 4) of paragraph 1 of Article 18 of this Law are obliged to:

1) obtain the consent of the subject of the credit history to submit information about him to credit bureaus, with the exception of credit bureaus with state participation, as well as the cases provided for in paragraph 4 of Article 25 of this Law and Article 68 of the Law of the Republic of Kazakhstan "On Banks and Banking Activities in the Republic of Kazakhstan";

2) conclude an agreement on the provision of information with a credit bureau with state participation;

3) provide information to credit bureaus on the terms, to the extent and in the manner specified by this Law and the information provision agreement;

4) make adjustments to the information provided to the credit bureaus, at the request of the subject of the credit history;

5) provide information to the credit bureaus with which the information agreement has been concluded, in exact accordance with the available information about the subject of the credit history;

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

7) provide appropriate conditions for receiving and processing information at their own expense;

8) provide information to the credit bureau in accordance with the procedure specified in the information agreement, within:

one business day about the subject of the credit history – an individual, provided for in subitems 1), 2) and 3-2) of the first part of paragraph 1 and paragraph 3 of Article 24 of this Law – for information providers specified in subitems 1) (with the exception of credit partnerships), 1-1) (with the exception of collection agencies) and 4) paragraph 1 of Article 18 of this Law;

ten working days from the date of changing or receiving any data regarding the subject of the credit history – for information providers specified in subitems 1), 1-1) (with the exception of collection agencies) and 4) of paragraph 1 of Article 18 of this Law.;

thirty calendar days from the date of changing or receiving any data regarding the subject of the credit history – for collection agencies and other information providers specified in subitems 2) and 3-1) of paragraph 1 of Article 18 of this Law.

The information providers specified in subparagraph 1) (with the exception of credit partnerships and pawnshops) of paragraph 1 of Article 18 of this Law, in accordance with the procedure established by the information agreement, are required to provide the credit bureau with real–time information about the subject of the credit history - an individual under consumer bank loan agreements (consumer microcredit agreements), unsecured property, including:

the date and time of submitting the application for the conclusion of the contract, indicating the individual identification number of the individual, the application identifier, and the amount of the bank loan (micro-loan);

the date and time of approval or refusal to approve the application specified in the second paragraph of this part, the identifier of such application, the amount of the bank loan (microcredit) approved for such application and the periodic payment on it;

the date and time of issue of the bank loan (micro-loan) on the application specified in the second paragraph of this part, the identifier of such application, the amount of the bank loan (micro-loan) issued on such application and the periodic payment on it.

The requirements provided for in part two of this paragraph apply to an application for an increase in the amount of a consumer bank loan (micro-loan) or an application for a consumer bank loan (micro-loan) not secured by a pledge of property, under a previously concluded agreement, the terms of which provide for the transfer of money in full or in parts on the basis of the application, with the exception of applications for provision of a consumer bank loan (micro-loan) concluded for the purpose of purchasing goods, works or services and providing for the transfer of the loan amount directly to the bank account of the seller (supplier) of goods, works or services.

2-1. The information providers specified in subparagraph 3-1) of paragraph 1 of Article 18 of this Law are obliged to:

1) conclude agreements on the provision of information with a credit bureau with state participation and other credit bureaus;

2) comply with the requirements of the sub-paragraphs 3), 4), 5), 6), 7) and 8) of the first part of paragraph 2 of this Article.

3. Information providers specified in subparagraph 3) of paragraph 1 of Article 18 of this Law:

1) if they conclude an agreement with a credit bureau on the provision of information, they must comply with the requirements for other information providers established by this Law.;

2) excluded by the Law of the Republic of Kazakhstan dated 05/21/2024 No. 86-VIII (effective sixty calendar days after the date of its first official publication).

4. Information providers to credit bureaus who do not carry out activities that previously led to their participation in the credit bureau system are required to update information on all subjects previously transferred to the credit bureau database by them before termination of contractual relations with these subjects.

5. The information providers specified in subitems 2), 3-1) and 4) of paragraph 1 of Article 18 of this Law comply with the requirements for the use of information and communication technologies and ensuring information security in the organization of their activities, defined by agreements on the provision of information and (or) receipt of credit reports concluded in accordance with the legislation of the Republic of Kazakhstan..

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.

President

Republic of Kazakhstan

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President

Republic of Kazakhstan

Constitution Law Code Standard Decree Order Decision Resolution Lawyer Almaty Lawyer Legal service Legal advice Civil Criminal Administrative cases Disputes Defense Arbitration Law Company Kazakhstan Law Firm Court Cases