To combat financial fraud, Kazakhstan has introduced a measure for voluntary refusal of loans starting in 2023. Every citizen can impose a ban on obtaining loans. The "Stop-Credit" service is available through the eGov website and mobile application. The Agency for Regulation and Development of the Financial Market (ARDFM) has reminded how to do this, as reported by Tengrinews.kz.
The service can be accessed both via computer and mobile application. To use the service through a computer, you need to:
- log into your personal account on the website egov.kz;
- in the "Services" section, select the service "Voluntary refusal to receive bank loans, microloans" and request the service online;
- fill out all required fields and sign the application using an electronic digital signature (EDS);
- review the notification about the result of the request in your personal account in the "Service History" section.
To utilize the service through the mobile application, you should:
- open the eGov mobile application;
- go to the "Services" section and select the "Taxes and Finance" subsection;
- choose the "Voluntary refusal to receive bank loans, microloans" section;
- fill in the necessary information and electronically sign the request.
"After this, a note about the refusal to receive a loan will appear in your credit history. Credit organizations that request information from credit bureaus will see this restriction and decide to deny the loan application. If a loan is issued without your knowledge, despite your personal ban on receiving it, the debt will be automatically canceled," the ARDFM reported.
This service can be easily disabled at any time. Additionally, the restriction does not apply to pawnshops and other organizations that do not evaluate their clients' credit histories.
As of December 30, 2024, over 920,000 citizens have used the "Stop-Credit" service, added the ARDFM.
Previously, we reported that the population of an entire city in Kazakhstan refused loans.