Article 5. Powers of the authorized body and the National Bank of the Republic of Kazakhstan to adopt regulatory legal acts of the Law on Credit Bureaus and Formation of Credit Histories in the Republic of Kazakhstan

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Article 5. Powers of the authorized body and the National Bank of the Republic of Kazakhstan to adopt regulatory legal acts of the Law on Credit Bureaus and Formation of Credit Histories in the Republic of Kazakhstan

IZPI's note! The first paragraph of Article 5 is amended by 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).

Authorized body:

IZPI's note! Subparagraph 1) is amended by 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).

1) defines the conditions and minimum requirements for the procedure for providing information by information providers to credit bureaus (for information providers specified in the sub-paragraphs 1), 1-1), 2), 3) and 3-1) of paragraph 1 of Article 18 of this Law);

IZPI's note! Subparagraph 1-1) is amended by 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).

1-1) determines the list of information provided by information providers to credit bureaus (for information providers specified in subitems 1), 1-1) and 3-3) of paragraph 1 of Article 18 of this Law);

IZPI's note! Subparagraph 2) is amended by 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) determines the procedure for obtaining the consent of credit history subjects to information providers specified in subitems 1), 1-1), 2) and 4) of paragraph 1 of Article 18 of this Law to provide information about them to credit bureaus (with the exception of a credit bureau with state participation), and for obtaining consent to issue a credit report on them to others persons from the credit bureau;

IZPI's note! Subparagraph 3) is amended by 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).

3) determines the conditions and procedure for submitting a credit report;

IZPI's note! Subparagraph 3-1) is amended by 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).

3-1) determines the conditions and procedure for calculating credit scoring by the credit bureau;

IZPI's note! Subparagraph 4) is amended by 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).

4) determines the conditions and procedure for issuing a permit, with the exception of the case provided for by this Law.;

5) excluded by the Law of the Republic of Kazakhstan dated 03.07.2019 No. 262-VI (effective from 01.01.2020); IZPI's note! Subparagraph 6) is amended by 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).

6) defines the requirements for the use of information and communication technologies and ensuring information security when organizing the activities of credit bureaus, information providers specified in subitems 1) and 1-1) of paragraph 1 of Article 18 of this Law, and recipients of credit reports specified in subitem 1) of part one of paragraph 1 of Article 20 of this Law, as well as on requirements imposed by credit bureaus on other information providers and recipients of credit reports in accordance with subitem 11) of paragraph 2 and subitem 9) of paragraph 3 of Article 27 of this Law.

IZPI's note! Article 5 is provided to be supplemented by subparagraph 7) in accordance with 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) adopt regulatory legal acts binding on credit bureaus in the field of regulating the activities of credit bureaus and the formation of credit histories in accordance with the purpose and objectives provided for in paragraphs 1 and 2 of Article 2-1 of this Law and the legislation of the Republic of Kazakhstan. The list of subordinate regulatory legal acts is defined in the regulations on the authorized body.

The list, forms of reporting, terms and procedure for its submission by the credit bureau to the National Bank of the Republic of Kazakhstan are established by a regulatory legal act of the National Bank of the Republic of Kazakhstan in coordination with the authorized body. IZPI's note! The second part of Article 5 is provided to be deleted by 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).

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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