Article 5. Annual effective interest rate on microcredit of the Law on Microfinance Activities

Home / RLA / Article 5. Annual effective interest rate on microcredit of the Law on Microfinance Activities

1. The amount of the annual effective interest rate on microcredit should not exceed the maximum amount determined by a joint regulatory legal act of the authorized body and the National Bank of the Republic of Kazakhstan.

2. The rules for calculating the annual effective remuneration rate for micro-loans provided are developed and approved by the authorized body.

IZPI's note! Paragraph 2-1 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).

2-1. A microfinance organization is obliged to indicate the annual effective remuneration rate in agreements on the provision of microcredit, as well as when distributing information on the amount of remuneration for microcredit, including when publishing it.

3. Excluded by the Law of the Republic of Kazakhstan dated 07/03/2019 No. 262-VI (effective from 01/01/2020).

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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