Article 24. Information provided to credit bureaus The Law on Credit Bureaus and Formation of credit histories in the Republic of Kazakhstan

Home / Laws / Article 24. Information provided to credit bureaus The Law on Credit Bureaus and Formation of credit histories in the Republic of Kazakhstan

1. Information provided to credit bureaus by banks, organizations engaged in certain types of banking operations, and organizations engaged in microfinance activities must contain:

1) the amount of debt on a loan received by a person from this bank or an organization engaged in certain types of banking operations, as well as the total amount of debt on all loans, contingent and possible obligations received by him;

2) the date of issue, the date (scheduled and actual) of repayment of loans (indicating the source of repayment), as well as conditional and possible obligations;

3) information on the composition and methods of securing the fulfillment of obligations (with the exception of collateral stored in safe deposit boxes, cabinets and premises of the bank);

3-1) negative information about the subject of the credit history, if any;

3-2) information on nominal and annual effective interest rates on the loan as of the date of conclusion of the bank loan agreement, the microcredit agreement;

3-3) information on debt settlement by concluding an additional agreement to the bank loan agreement and (or) the micro-loan agreement or a new bank loan agreement and (or) the micro-loan agreement, indicating the date of their conclusion and (or) refusal to amend the terms of the bank loan agreement and (or) the micro-loan agreement. microcredit, as well as information on debt collection under a bank loan agreement and (or) a microcredit agreement;

4) other information determined by the regulatory legal act of the authorized body.

For the purposes of this paragraph, a loan is understood to mean bank loans, leasing, factoring, forfeiting operations, accounting for promissory notes, as well as the provision of micro-loans.

1-1. Information provided to credit bureaus by collection agencies on rights (claims) acquired from banks, organizations engaged in certain types of banking operations, organizations engaged in microfinance activities, under bank loan agreements, microcredit agreements, and service companies, individuals, specified in paragraph ten of the first part of paragraph 4 of Article 36-1 of the Law of the Republic of Kazakhstan "On Banks and Banking Activities in the Republic of Kazakhstan" and paragraph eight of the first part of paragraph 5 of Article 9-1 of the Law of the Republic of Kazakhstan "On Microfinance Activities", if the rights (claims) obtained under the bank loan agreement and (or) under the agreement the micro-loan agreements were not transferred by these persons to the trust management of the service company, as well as by other persons to whom the rights (claims) under bank loan agreements were transferred, loan (loan) agreements and micro-credit agreements for individuals must contain:

1) the total amount of debt, including the amount of the principal debt, remuneration, commissions, penalties (fines, penalties), as of the date of debt acquisition;

2) the date of debt acquisition;

3) the date (according to schedule and actual) of debt repayment;

4) information on the composition and methods of ensuring the fulfillment of obligations;

5) negative information about the subject of the credit history, if any;

5-1) information on debt settlement by concluding an additional agreement to the bank loan agreement and/or the microcredit agreement, or concluding an agreement on the terms of execution of a court decision or a notary's executive inscription on debt collection under the bank loan agreement or the microcredit agreement, indicating the date of their conclusion and/or refusal to amend terms of the bank loan agreement and (or) the micro-loan agreement, conditions for the execution of a court decision or notary's executive inscription on debt collection under a bank loan agreement or a micro-loan agreement, as well as information on debt collection under a bank loan agreement and (or) a micro-loan agreement;

6) other information determined by the regulatory legal act of the authorized body.

2. Information provided to credit bureaus by an individual entrepreneur or a legal entity that sells goods and services on credit or provides deferred payments must contain the following information:

1) the amount of the loan debt, as well as for all goods and services received on credit;

2) the date of issue, the date (according to schedule and actual) repayment of loans;

3) information on the composition and methods of ensuring the fulfillment of obligations;

4) other information by agreement of the parties.

3. Information about the subject of a credit history - an individual, provided in accordance with the requirements of paragraphs 1 and 2 of this Article, must contain the surname, first name, patronymic, date of birth, place of residence, legal address, name and details of the identity document, individual identification number.

4. Information about the subject of the credit history - a legal entity, provided in accordance with the requirements of paragraphs 1 and 2 of this Article, must contain the name, organizational and legal form, location, number and date of state registration as a legal entity, business identification number, surname, first name, patronymic of the first managers and their individual identification numbers.

5. Information provided to credit bureaus by the Government for Citizens State Corporation must contain the following information::

1) for individuals - last name, first name, patronymic, date of birth, place of residence, legal address, name and details of the identity document, individual identification number, information on registration of property rights and other rights, as well as encumbrances on immovable property;

1-1) for individuals – last name, first name, patronymic (if it is indicated in the identity document), date of birth, place of residence, legal address, name and details of the identity document, individual identification number, information on the establishment or withdrawal by an individual of a voluntary refusal to receive bank loans, microcredits;

2) for legal entities - name, organizational and legal form, location, number and date of state registration as a legal entity, business identification number, bank details, information on registration of property rights and other rights, as well as encumbrances on immovable property.

The Government for Citizens State Corporation provides the credit bureaus with the information provided for in subparagraph 1-1) of Part One of this paragraph in real time.

5-1. Information provided to credit bureaus by information providers specified in subparagraph 3-1) of paragraph 1 of Article 18 of this Law is determined by the information provision agreement and must contain the following information:

1) the amount of debt for the service received by the person from the information provider;

2) the date of origination and repayment of the debt;

3) the number of days overdue as of the date of information provision;

4) the amount of the penalty (if any);

5) type of service;

6) information about the subject of the credit history – an individual (last name, first name, patronymic (if it is indicated in the identity document), place of residence, legal address, individual identification number);

7) information about the subject of the credit history – a legal entity (name, organizational and legal form, location, business identification number, surname, first name, patronymic (if it is indicated in the identity document) of the first managers and their individual identification numbers);

8) other information as agreed by the parties.

For the purposes of this paragraph, arrears are defined as overdue debts owed by service recipients to the information provider.

5-2. Information provided to credit bureaus by information providers specified in subparagraph 4) of paragraph 1 of Article 18 of this Law is determined by the information provision agreement and must contain the following information:

1) the amount of debt for the service received by the person from the information provider;

2) the date of origination and repayment of the debt;

3) information about the property acting as collateral and (or) burdened due to the presence of debt (if any);

4) other information by agreement of the parties.

6. The list of information provided for in paragraphs 2 and 5 of this Article may be supplemented by agreement between the credit bureau and the information provider on the basis of an information provision agreement concluded by them, if this does not contradict the requirements established by 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.

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Republic of Kazakhstan

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