Article 29-3. The procedure for decision-making by the Microfinance Ombudsman of the Law on Microfinance Activities

Home / RLA / Article 29-3. The procedure for decision-making by the Microfinance Ombudsman of the Law on Microfinance Activities

1. The decision is made by the microfinance Ombudsman alone and is communicated in writing to the parties involved in the dispute.

When making decisions, the microfinance Ombudsman is guided by the legislation of the Republic of Kazakhstan and the terms of concluded contracts.

2. The Microfinance Ombudsman does not consider applications:

1) accepted for consideration by the court and (or) for which there is a judicial act that has entered into legal force;

2) for which the applicant has not provided written evidence of his application to the microfinance organization to the person to whom the right (claim) has been assigned under the microcredit agreement in order to resolve the situation within the framework of the microcredit agreement;

3) re-sent in the absence of new circumstances of the case.

3. The decision of the microfinance ombudsman is mandatory for a microfinance organization, a person to whom the right (claim) has been assigned under a micro–loan agreement concluded with an individual borrower, if accepted by the individual borrower.

Consideration of appeals from individuals and decision-making in the cases provided for in paragraphs 1 and 2 of Article 29-1 of this Law shall be carried out by the microfinance Ombudsman free of charge.

The results of consideration of the application are formalized by a protocol signed by the interested parties or their representatives, bringing it to the attention of an individual and a microfinance organization, a person to whom the right (claim) has been assigned under a microcredit agreement concluded with the borrower.

The protocol must contain:

1) the date and place of its signing;

2) the surname, first name, patronymic (if it is indicated in the identity document) of the microfinance ombudsman;

3) last name, first name, patronymic (if it is indicated in the identity document), contact phone number of the individual applicant, the name of the microfinance organization, the person to whom the right (claim) has been assigned under the microcredit agreement concluded with the individual borrower, their addresses and details;

4) the subject of the dispute or the stated claim of an individual;

5) the circumstances of the case established by the microfinance Ombudsman;

6) the decision of the microfinance Ombudsman on the full or partial satisfaction or refusal to satisfy the application of the applicant – an individual;

7) the deadline for the execution of the decision of the microfinance Ombudsman;

8) the deadline for informing the microfinance organization, the person to whom the right (claim) has been assigned under the microcredit agreement concluded with the borrower, an individual, about the results of the execution of the decision.

4. Upon requests from individual borrowers regarding changes in the terms of performance of obligations under microcredit agreements, the microfinance Ombudsman assists the parties in reaching a mutually acceptable solution and making a decision agreed upon by the parties to change the terms of performance of obligations under the microcredit agreement.

In case of disagreement with the decision of the microfinance ombudsman, the interested party has the right to apply to the court.

5. In case of non-fulfillment by a microfinance organization, by the person to whom the right (claim) has been assigned under the microcredit agreement concluded with the borrower, of the decision of the microfinance ombudsman within the time limit set by him, the microfinance ombudsman is obliged to inform the authorized body about this no later than five working days.

The deadline for the microfinance organization, the person to whom the right (claim) has been assigned under the microcredit agreement concluded with the borrower, to execute the decision of the microfinance ombudsman is thirty calendar days, unless another deadline is established by agreement of the parties.

The Law of the Republic of Kazakhstan dated November 26, 2012 No. 56-V.

This Law regulates public relations related to the provision of micro-loans, establishes the specifics of the creation and reorganization of organizations engaged in microfinance activities, the legal status, activities of organizations engaged in microfinance activities, and also defines the specifics of state regulation of organizations engaged in microfinance activities, control and supervision of their activities.

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Republic of Kazakhstan

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