According to estimates by the Agency for Regulation and Development of the Financial Market (ARDFM), this is the number of people who will be able to use the new debt resolution platform launched in Kazakhstan on July 1, 2026. Borrowers with overdue debts to several banks or microfinance organizations (MFOs) no longer need to negotiate with each creditor separately: one application on finkelisim.kz is sufficient, and creditors are required to suspend collection measures.
350,000 borrowers!
According to ARDFM estimates, this is the number of people who will be able to use the new debt resolution platform launched in Kazakhstan on July 1, 2026. Borrowers with overdue debts to several banks or MFOs no longer need to negotiate with each creditor separately: one application on finkelisim.kz is sufficient, and creditors are required to suspend collection measures. Who is eligible, how the procedure works and what it means for businesses — read our Legal Alert below:
Kazakhstan has launched an electronic platform for resolving problem debt. It forms part of a broader reform aimed at protecting borrowers.
On July 1, 2026, the digital platform finkelisim.kz officially became operational in Kazakhstan. It enables individuals with several overdue unsecured consumer loans to undergo a unified debt resolution procedure based on a “one-stop shop” principle. The platform was developed by the Agency for Regulation and Development of the Financial Market (ARDFM) jointly with the First Credit Bureau and operates through the Banking and Microfinance Ombudsmen under a mediation framework.
The concept and practical impact
Previously, borrowers owing money to several banks, MFOs or collection agencies had to negotiate with each creditor separately. This required considerable time and effort and often resulted in inconsistent terms. Now, a single application is sufficient. The system automatically collects information from credit bureaus, sends it to all creditors simultaneously and, once an agreement is reached, generates a unified repayment schedule.
After the agreements are signed, creditors are required to suspend collection measures, while the platform automatically distributes payments in proportion to the amount owed. The repayment schedule may extend for up to five years, or up to seven years for socially vulnerable groups and recipients of targeted social assistance. This is neither refinancing nor debt forgiveness: the amount of the obligation remains unchanged; only the repayment procedure and terms are modified.
Participation is free of charge for borrowers, except for mediator services. Until January 1, 2027, mediation costs are covered by the ombudsmen.
Who is eligible
The platform is available where all of the following conditions are met simultaneously:
- payments are overdue by 90 or more calendar days to two or more creditors;
- total debt ranges from 150 to 1,600 MCI (in 2026, from KZT 648,750 to KZT 6,920,000);
- there are no court judgments on debt recovery, notarial writs of execution or other compulsory enforcement measures;
- the loans are unsecured consumer loans;
- there are no loans related to entrepreneurial activities;
- there are no active bankruptcy or solvency restoration proceedings.
The procedure does not cover mortgages, car loans, business loans, fraudulent loans or obligations already subject to existing mediation agreements.
According to ARDFM estimates, approximately 350,000 distressed borrowers will be able to use the service at the initial stage.
The procedure in brief
- Register on finkelisim.kz using biometric identification.
- Submit an application.
- The system automatically checks the eligibility criteria and sends the information to creditors.
- Receive a package of documents: the ombudsman’s decision, a unified repayment schedule and mediation agreements.
- Sign the documents within 72 hours.
- Collection measures are suspended and payments are made according to the new schedule.
If the repayment schedule is breached for more than 40 days, creditors are entitled to resume collection. Repeated participation in the procedure is not permitted.
The broader context of the reform
The platform is not an isolated project but part of the ARDFM’s systematic efforts to establish comprehensive borrower protection. The regulator is consistently strengthening the institution of the financial ombudsman, expanding out-of-court settlement mechanisms and preparing to establish a Unified Debt Resolution Center. The center is expected to combine individual and collective debt resolution, support for solvency restoration procedures and personal bankruptcy proceedings.
On July 27, 2026, the ARDFM Board approved a package of regulations that, from January 1, 2027, will expand the powers of the financial ombudsman by integrating banking, microfinance and insurance functions and strengthening the collective debt resolution mechanism. Alexander Terentyev, Director of the ARDFM Department of Social Projects and Financial Literacy, expressly noted that the adoption of these documents is “an important step towards establishing a Unified Debt Resolution Center where the interests and rights of borrowers are at the forefront.”
Similar approaches — collective debt resolution and a “one-stop shop” for debtors with multiple creditors — are used in a number of jurisdictions, including EU countries and certain U.S. states, where emphasis is placed on out-of-court procedures and protecting individuals’ solvency. The Kazakhstan model is distinguished by its high degree of digitalization and its close integration with ombudsman-led mediation.
What businesses and borrowers should know
For creditors, the platform means that they must respond promptly to requests within the unified procedure and suspend collection after agreements have been signed. For borrowers, it provides a practical mechanism to reduce the pressure of multiple claims and obtain a manageable repayment schedule. For the market as a whole, it signals a transition from fragmented negotiations to a centralized, transparent and digital debt resolution system.
We recommend monitoring updates on the official finkelisim.kz website and ARDFM resources, while keeping in mind that eligibility requirements and threshold values, particularly those expressed in MCI, may be adjusted.
This information has been prepared on the basis of official communications from the ARDFM and the Banking Ombudsman, as well as publications in reputable Kazakhstan media, as of early August 2026.
