According to the first credit bureau in Kazakhstan, the number of foreign individuals borrowing small loans has slightly decreased compared to last year. However, Uzbek citizens remain in the top three for such borrowings.
From January to July 2023, foreign borrowers received a total of 184 microloans, adding up to KZT 127.5 mn ($276,000). Russians topped the list, borrowing KZT 98 mn ($212,000), followed by Uzbeks with KZT 8.6 mn ($18,600), and then Armenians and Kyrgyzstanis.
Regulators have also revised the terms for small loans. The maximum refund on microloans, ranging from KZT 103,000 ($224,500) to KZT 172,000 ($374,300) and lasting up to 45 days, will now be 15% instead of 20%. The daily compensation rate for such collateralized loans will also be reduced from 1% to 0.8%.
