On credit bureaus (legal basis of the insurance-database operator)

Unofficial English summary prepared for informational purposes. Official source: Әділет / adilet.zan.kz. Version checked: 2026-06-20. This is a reference card; in case of discrepancies, the official Kazakh and Russian texts prevail.

Metadata

Act number	№ 573-II
Act type	Law of the RK
Authority	Parliament of the RK
Adoption date	06.07.2004
Last amended	16.01.2026
Status	In force
Әділет identifier	Z040000573_

Scope and relevance

The law grants the state-participated credit bureau (Joint-Stock Company State Credit Bureau) the function of maintaining the unified insurance database (USDB). This is the legal basis for the State Credit Bureau acting as the USDB operator (operational requirements are set out in Resolution No. 177).

Official source

• Full text (RU) — adilet.zan.kz
• Full text (KK) — adilet.zan.kz

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Official source: Adilet / https://adilet.zan.kz/rus/docs/Z040000573_ The relevance of the editorial office has been verified: 2026-06-20.

TABLE OF CONTENTS

This Law defines the legal, economic and organizational basis for the formation of credit histories in the Republic of Kazakhstan, the legal status of participants in the system for the formation of credit histories and their use, regulates social relations associated with the creation, implementation and termination of the activities of credit bureaus, features of state regulation, control and supervision in this area.

Chapter 1. General provisions

Article 1. Basic concepts used in this Law

This Law uses the following basic concepts:

2) agreement on the provision of information - an agreement concluded between a credit bureau and an information provider on the terms and in the manner provided for by this Law;

3) information provider - an individual entrepreneur or legal entity providing information to the credit bureau;

4) activities of the information provider to participate in the creation and protection of the credit history database - actions of the information provider to register (process), store and transfer to credit bureaus information received from subjects of credit histories in accordance with the requirements of this Law;

5) written order - a measure of influence from an authorized body applied to a credit bureau or collection agency;

6) credit bureau - an organization that generates credit histories, provides credit reports and provides other services;

7) credit report - a form of full or partial release of information contained in the credit history;

8) agreement on receiving credit reports - an agreement concluded between the credit bureau and the recipient of credit reports on the terms and in the manner provided for by this Law;

9) recipient of a credit report - a person entitled to receive a credit report;

10) provision of a credit report - the activity of a credit bureau in issuing information contained in a credit history;

10-1) credit scoring - an assessment of the creditworthiness of the subject of credit history and the likelihood of fulfilling obligations under loan agreements, expected credit losses, calculated using a mathematical and (or) statistical model based on qualitative and quantitative characteristics;

11) credit history - a set of information about the subject of credit history;

12) subject of credit history - an individual or legal entity in respect of whom a credit history is being formed;

13. consent of the subject of credit history - permission of the subject of credit history to the providers of information specified in subparagraphs 1), 1-1), 2) and 4) of paragraph 1 of Article 18 of this Law, to provide information about him to credit bureaus (except for a credit bureau with state participation) or permission of the subject of credit history to issue a credit report about him to other persons from the credit bureau, drawn up in accordance with the requirements established by the legislation of the Republic of Kazakhstan;

13-1) consent of the subject of credit history for cross-border exchange - permission of the subject of credit history to provide information about him to authorized organizations of a foreign state and (or) to receive information about him from authorized organizations of a foreign state, drawn up in writing or in the form of an electronic document certified by means of an electronic digital signature, taking into account the need to ensure identification of this subject of credit history in accordance with the legislation of a foreign state or the legislation of the Republic of Kazakhstan. The consent must be signed by the subject of the credit history with his own hand or in another way equated in accordance with the legislation of a foreign state or the legislation of the Republic of Kazakhstan to a handwritten signature;

13-2) information about the subject of credit history (hereinafter referred to as information) - information regarding subjects of credit histories in electronic form and on paper, transmitted by participants in the system for generating credit histories and their use, if necessary, certified by means of an electronic digital signature;

13-3) negative information about a subject of credit history - a short form of a credit report about a subject of credit history, containing information about the liquidation of a subject of credit history, which is a legal entity, by a court decision, or about the presence of an overdue debt of more than ninety calendar days in a subject of credit history, or about declaring a subject of credit history bankrupt in accordance with the Law of the Republic of Kazakhstan “On restoration of solvency and bankruptcy of citizens of the Republic of Kazakhstan;

13-4) monitoring of credit histories - analysis of changes in the credit history of the subject of a credit history, carried out by credit bureaus on the basis of information and information available in the credit history database, other information systems, as well as providing information about identified changes to the subject of a credit history and (or) recipients of credit reports;

14) formation of credit histories - an action or a set of actions carried out by a credit bureau in relation to information received from information providers in accordance with this Law, for its storage, ensuring confidentiality, monitoring, clarification and updating;

15) participants in the system for the formation of credit histories and their use - subjects of credit histories, information providers, credit bureaus, recipients of credit reports;

16) credit history database - electronic information resources of the credit bureau, based on information systems and information processes that meet the requirements established by the legislation of the Republic of Kazakhstan;

16-1) credit history user - the information provider specified in subparagraph 1) of paragraph 1 of Article 18 of this Law, as well as a legal entity registered in the territory of a foreign state that has received the consent of the subject of the credit history for cross-border exchange for the purpose of formalizing credit relations and (or) monitoring formalized credit relations;

16-2) real-time mode - a period of time during which an action must be carried out immediately or within a period not exceeding one hour;

16-3) applicant - a legal entity that has submitted documents to the authorized body in order to obtain permission to carry out the activities of a credit bureau and a certificate of compliance of the credit bureau with the requirements for the credit bureau to protect and ensure the safety of the credit history database, used information systems and premises (hereinafter referred to as the permission);

16-4) services in proactive mode - credit bureau services for notifying subjects of credit history about the issuance of a bank loan and (or) microcredit, as well as in the cases provided for in subparagraph 7) of paragraph 2 of Article 7 of this Law;

16-5) cross-border exchange - exchange of information regarding subjects of credit histories with authorized organizations of a foreign state and credit bureaus on the basis of the relevant international agreement and agreement on cross-border exchange;

16-6) agreement on cross-border exchange - an agreement defining the conditions for carrying out cross-border exchange, the procedure and conditions for interaction between authorized organizations of foreign states and credit bureaus when carrying out cross-border exchange;

17) authorized body - a state body that carries out state regulation, control and supervision of the financial market and financial organizations;

17-1) authorized organization - a legal entity that collects, processes, stores credit histories and submits credit reports in accordance with the legislation of a foreign state;

18) contingent and possible obligations - uncovered letters of credit, issued or confirmed guarantees, bills and sureties.

Article 2. Legislation of the Republic of Kazakhstan on credit bureaus and the formation of credit histories

1. The legislation of the Republic of Kazakhstan on credit bureaus and the formation of credit histories is based on the Constitution of the Republic of Kazakhstan and consists of the Civil Code of the Republic of Kazakhstan, this Law and other regulatory legal acts of the Republic of Kazakhstan.

2. This Law applies to relations arising in the formation of credit histories and the provision of credit reports, the creation, operation and termination of the activities of credit bureaus, the activities of information providers to participate in the creation and protection of a credit history database. Relations falling within the scope of other legislative acts of the Republic of Kazakhstan are regulated by these acts to the extent not regulated by this Law.

2-1. Credit bureaus and other legal entities operating within the framework of a special regulatory regime introduced in accordance with the Law of the Republic of Kazakhstan "On State Regulation, Control and Supervision of the Financial Market and Financial Organizations" are subject to the provisions of this Law and regulatory legal acts of the authorized body, the National Bank of the Republic of Kazakhstan, adopted in accordance with this Law, within the limits provided for by the conditions of the special regulatory regime.

2-2. The provisions of this Law applied to banks apply to branches of non-resident banks of the Republic of Kazakhstan opened on the territory of the Republic of Kazakhstan.

3. If an international treaty ratified by the Republic of Kazakhstan establishes rules other than those contained in this Law, then the rules of the international treaty apply.

Article 2-1. The main goals, objectives and principles of state regulation in the field of activity of credit bureaus and the formation of credit histories

1. The main goal of state regulation in the field of activity of credit bureaus and the formation of credit histories is to establish the legal basis for the activities of credit bureaus and the formation of credit histories.

2. The main objectives of state regulation in the field of activity of credit bureaus and the formation of credit histories are:

1. ensuring the completeness and reliability of the information contained in the credit history database;

2) protection and safety of the credit history database.

3. The basic principles of state regulation in the field of activity of credit bureaus and the formation of credit histories are:

1. efficient use of resources and regulatory tools;

2) transparency of the activities of credit bureaus;

3) responsibility of credit bureaus and information providers.

Article 3. Principles for the formation of credit histories and use of information

The formation of credit histories and the use of information are carried out taking into account the following principles:

1. the presence of the consent of the subject of the credit history to the providers of information specified in subparagraphs 1), 1-1), 2) and 4) of paragraph 1 of Article 18 of this Law, to provide information about him to credit bureaus (except for a credit bureau with state participation) or the consent of the subject of the credit history to issue a credit report about him to other persons from the credit bureau, except for the case provided for in paragraph 4 of Article 25 of this Law;

2. equality of all subjects of credit histories;

3. targeted use of information, credit history database and information system;

4. confidentiality of information;

5. ensuring the protection of the credit history database and related information systems;

6. inviolability of private life of citizens, protection of the rights, freedoms and legitimate interests of citizens and organizations;

7. reliability and relevance of the formation of a credit history database.

Chapter 2. State regulation, control and supervision in the field of activity of credit bureaus and the formation of credit histories

Article 4. State bodies exercising regulation, control and supervision over the activities of credit bureaus, control over the activities of information providers and recipients of credit reports

1. State regulation and supervision of the activities of credit bureaus and the formation of credit histories is carried out by the authorized body.

For these purposes, the authorized body has the right to receive from individuals and legal entities, including credit bureaus, information necessary to carry out its supervisory functions, and the information received is not subject to disclosure, except for the cases provided for in this paragraph.

In order to ensure the completeness of the information contained in the credit history database, the authorized body has the right to provide information to a credit bureau with state participation.

Employees of the authorized body are responsible for the disclosure of information received in the course of their supervisory functions that constitute official, commercial, banking or other secrets protected by law in accordance with the laws of the Republic of Kazakhstan.

2. The competence of the authorized body includes:

2) issuance of permits, except for the cases provided for by this Law;

2-1) approval of the draft agreement on cross-border exchange;

3) conducting inspections of the activities of credit bureaus on compliance with the legislation of the Republic of Kazakhstan on credit bureaus and the formation of credit histories;

4) sending written instructions to credit bureaus and collection agencies to eliminate identified violations of the legislation of the Republic of Kazakhstan on credit bureaus and the formation of credit histories, as well as in case of failure to provide information within the established time frame;

5) imposition of sanctions on credit bureaus and their officials;

6) consideration of requests from individuals and legal entities regarding the activities of credit bureaus, including those related to the formation of credit histories;

7) implementation of other functions provided for by this Law, other laws of the Republic of Kazakhstan and acts of the President of the Republic of Kazakhstan.

3. Excluded by the Law of the Republic of Kazakhstan dated April 27, 2015 No. 311-V (shall be enforced upon the expiration of ten calendar days after the day of its first official publication).

Article 5. Powers of the authorized body and the National Bank of the Republic of Kazakhstan to adopt regulatory legal acts

Footnote: Footnote. The title of Article 5 as amended by the Law of the Republic of Kazakhstan dated May 24, 2018 No. 156-VI (shall be brought into force upon the expiration of ten calendar days after the day of its first official publication); as amended by the Law of the Republic of Kazakhstan dated 07/03/2019 No. 262-VI (shall be enforced from 01/01/2020).

Authorized body:

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

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

2) determines the procedure for formalizing the consent of subjects of credit histories to the information providers specified in subparagraphs 1), 1-1), 2) and 4) of paragraph 1 of Article 18 of this Law, to provide information about them to credit bureaus (except for a credit bureau with state participation), and to formalize consent to issue a credit report about it to other persons from the credit bureau;

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

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

4. determines the conditions and procedure for issuing a permit, except for the case provided for by this Law;

6) determines 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 subparagraphs 1) and 1-1) of paragraph 1 of Article 18 of this Law, and recipients of credit reports specified in subparagraph 1) of part one of paragraph 1 of Article 20 of this Law, as well as on the requirements imposed by credit bureaus on other information providers and recipients of credit reports in accordance with subparagraph 11) of paragraph 2 and subparagraph 9) of paragraph 3 of Article 27 of this Law;

7) adopts mandatory regulatory legal acts for credit bureaus in the field of regulating the activities of credit bureaus and the formation of credit histories in accordance with the goals and objectives that are 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 determined in the regulations on the authorized body.

Chapter 3. Creation, implementation and termination of activities of credit bureaus

Article 6. Credit bureaus

1. Credit bureaus are commercial organizations created and operating in accordance with the legislation of the Republic of Kazakhstan, with the exception of credit bureaus with state participation.

A credit bureau with state participation is the only specialized non-profit organization created in the legal form of a joint stock company, one hundred percent of the voting shares of which belongs to the National Bank of the Republic of Kazakhstan.

2. Excluded - dated July 27, 2007 N 317.

3. The permit is issued by the authorized body in the manner established by this Law and the regulatory legal acts of the authorized body.

The activities of a credit bureau with state participation are not subject to the permitting procedure of the authorized body.

4. The name of the credit bureau must contain the words “credit bureau” or words derived from them.

Article 7. Types of activities carried out by credit bureaus

1. The main activities of credit bureaus are the formation of credit histories and the provision of credit reports.

2. Additional activities of the credit bureau include:

1. a service for the provision of specialized software to automate the activities of participants in the system for generating credit histories and their use;

2. sale of special literature and other information materials related to the activities of the credit bureau;

3. provision of consulting services related to information support for participants in the system for generating credit histories and their use;

4. provision of services for calculating credit scoring of subjects of credit histories, monitoring credit histories;

4-1) activities of an operator of an electronic trading platform for the sale of banking and microfinance assets (subject to permission to carry out the activities of an operator of an electronic trading platform for the sale of banking and microfinance assets);

5. marketing, statistical and analytical research;

6. excluded by the Law of the Republic of Kazakhstan dated December 28, 2011 No. 524-IV (shall be enforced upon the expiration of ten calendar days after its first official publication).

7) services for notifying subjects of credit history about recipients of credit reports who have requested a credit report, changes in the credit history of the subject of credit history in real time;

8) services for notifying information providers specified in subparagraph 1) of paragraph 1 of Article 18 of this Law about the establishment or withdrawal by an individual of a voluntary refusal to receive bank loans, microcredits in real time.

9) provision of services in a proactive mode;

10) publication of marketing, statistical and analytical research on the credit bureau’s Internet resource.

2-1. A credit bureau with state participation creates and maintains a database on insurance in accordance with the Law of the Republic of Kazakhstan “On Insurance Activities”.

2-2. For a credit bureau with state participation, the provision of credit scoring services is a core activity and is mandatory. Carrying out the activities provided for in subparagraph 4-1) of paragraph 2 of this article by a credit bureau with state participation is not allowed.

3. Credit bureaus do not have the right to carry out types of business activities not provided for by this article.

4. A credit bureau with state participation has the right to send free notifications to subjects of credit history about the issuance of a loan and (or) microcredit, as well as in the cases provided for in subparagraph 7) of paragraph 2 of Article 7 of this Law, and (or) to subjects of the unified insurance database in cases established by subparagraph 5) of paragraph 6 of Article 79 of the Law of the Republic of Kazakhstan “On Insurance Activities”, by means of a short text message through a single number 1414.

Article 7-1. Credit scoring

1. Credit scoring is calculated independently by the credit bureau or information providers specified in subparagraphs 1) and 1-1) of paragraph 1 of Article 18 of this Law.

The credit bureau has the right to calculate credit scoring using data from legal entities with which the credit bureau has entered into appropriate agreements on calculating credit scoring, in accordance with the requirements established by the legislation of the Republic of Kazakhstan.

The procedure for providing information on credit scoring calculated by the credit bureau is determined by the credit bureau independently.

2. Information providers specified in subparagraphs 1) and 1-1) of paragraph 1 of Article 18 of this Law assess the creditworthiness of the subject of credit histories using credit scoring of the credit bureau and (or) credit scoring calculated independently.

Credit bureaus and information providers specified in subparagraphs 1) and 1-1) of paragraph 1 of Article 18 of this Law are not required to disclose to subjects of credit histories and other third parties their own methods for calculating credit scoring, risk assessment taking into account credit scoring.

3. Subjects of credit histories - individuals use credit scoring to determine the level of their own creditworthiness before receiving loans, microcredits and purchasing financial products and services with credit risk.

4. The authorized body has the right to request information on credit scoring from a credit bureau with state participation to implement its tasks and functions of regulating, controlling and supervising the financial market and financial organizations, ensuring the stability of the financial system and the appropriate level of protection of the rights and legitimate interests of consumers of financial services.

Article 8. Requirements for credit bureaus to protect and ensure the safety of the credit history database, information systems used and premises

Footnote: Footnote. The title of Article 8 is as amended by the Law of the Republic of Kazakhstan dated March 29, 2016 No. 479-V (shall be enforced upon the expiration of twenty-one calendar days after the day of its first official publication).

In their activities, credit bureaus are required to ensure compliance with the following organizational, technical measures and technological requirements:

1. have technical and other premises for the safe placement and operation of information systems, a database of credit histories and other documents;

2. when creating and using information systems to host a database of credit histories and security measures for these information systems, use certified equipment and software;

3. ensure that contracts concluded with information providers and recipients of credit reports contain conditions on the mandatory joint implementation of organizational, technical measures and technological requirements for protecting software used in the formation and operation of information systems used to create a database of credit histories and means of protecting these information systems;

4. ensure the availability of a backup server located outside the city where the credit bureau is located to store backup copies of the information of the subject of the credit history.

Article 8-1. The procedure for creating a credit bureau

1. The procedure for creating a credit bureau consists of the following stages:

1. obtaining permission;

2. commissioning of a credit history database management system.

2. Obtaining permission is carried out in accordance with Article 9 of this Law.

3. To put into commercial operation the credit history database management system, the credit bureau must carry out the following activities:

1. enter into an agreement on the provision of information with one of the information providers specified in paragraph 1 of Article 18 of this Law;

2. organize the information process for the formation of credit histories;

3. test the information process specified in subparagraph 2) of part one of this paragraph with information providers who have entered into an agreement on the provision of information with it.

4. The activities of a credit bureau are permitted only with permission from the authorized body.

5. The requirements of this article do not apply to credit bureaus with state participation.

Article 9. Documents required to obtain a permit and deadlines for their consideration

1. To obtain a permit, the applicant must submit the following documents to the authorized body:

1. application for a permit;

2. copies of constituent documents that have passed state registration in the prescribed manner.

2. An application for a permit must be considered by the authorized body within twenty working days from the date of receipt of the last document provided for in paragraph 1 of this article.

4. The credit bureau, in cases of changing the address specified in the application for permission, as well as making changes and additions to the documents specified in subparagraph 3) of paragraph 1 of this article, submits changes and additions to the authorized body within ten calendar days from the date of their introduction.

5. The requirements of this article do not apply to credit bureaus with state participation.

Article 10. Refusal to issue a permit

Refusal to issue a permit is made in the following cases:

1. carrying out a certain type of activity prohibited in accordance with the laws of the Republic of Kazakhstan for this category of entities;

2. failure to comply with the requirements provided for in Article 8 of this Law and established by regulatory legal acts of the authorized body;

3. if in relation to the applicant there is a court decision that has entered into legal force, prohibiting him from engaging in this type of activity;

4) failure by the credit bureau to comply with organizational, technical measures and technological requirements for protecting software used in the formation and operation of information systems used to create a database of credit histories and means of protecting these information systems, established by the regulatory legal act of the authorized body.

Article 11. Written order and sanctions

1. In case of violation of the legislation of the Republic of Kazakhstan on credit bureaus and the formation of credit histories, the authorized body has the right to send a written order to the credit bureau or collection agency.

A written order is an instruction to a credit bureau or collection agency to take mandatory corrective measures aimed at eliminating identified violations and (or) causes, as well as the conditions that contributed to their commission, within a specified period of time and (or) the need to submit within a specified period of time an action plan to eliminate identified violations and (or) causes, as well as conditions that contributed to their commission (hereinafter referred to as the action plan).

The action plan, submitted within the period established by the written order, indicates descriptions of violations, the reasons that led to their occurrence, a list of planned activities, the timing of their implementation, as well as responsible officials.

1-2. An appeal against a written order of the authorized body is carried out in the manner established by the laws of the Republic of Kazakhstan.

An appeal against a written order of the authorized body does not suspend its execution.

1-3. A credit bureau or collection agency is required to notify the authorized body of the implementation of the measures specified in a written order within the time limits specified in this written order.

If it is not possible to eliminate the violation within the time frame established in the action plan or written order, for reasons beyond the control of the credit bureau or collection agency, the deadline for execution of the action plan or written order may be extended by the authorized body in the manner established by the regulatory legal act of the authorized body.

2. As sanctions, the authorized body has the right to apply the following measures:

1. administrative fine;

2. suspension of the permit;

3. Excluded - dated July 27, 2007 N 317.

3. In case of violation by a bank, an organization carrying out certain types of banking operations, an organization carrying out microfinance activities, the legislation of the Republic of Kazakhstan on credit bureaus and the formation of credit histories, the authorized body applies supervisory response measures and sanctions in accordance with the Law of the Republic of Kazakhstan “On Banks and Banking Activities in the Republic of Kazakhstan” and the Law of the Republic of Kazakhstan “On Microfinance Activities”.

Article 12. Suspension of a permit

1. The validity of a permit may be suspended for a period of up to six months on one of the following grounds:

1. failure to comply with the requirements established by Article 8 of this Law;

2. establishing a discrepancy with the validity of the documents that served as the basis for issuing the permit;

3. failure to comply with a written order from the authorized body to eliminate violations of the requirements of the legislation of the Republic of Kazakhstan on credit bureaus and the formation of credit histories.

2. Suspension of the permit entails a ban on carrying out its activities, with the exception of activities to obtain information on previously concluded agreements.

3. The decision to suspend the permit must indicate the grounds and period for suspension of the permit.

The validity of the permit is considered suspended from the day such a decision is brought to the attention of the executive body of the credit bureau.

Article 13. Revocation of permission

The authorized body applies to the court with a statement of claim to deprive the credit bureau of permission on one of the following grounds:

1. failure to eliminate the reason why the authorized body suspended the permit;

2. repeated (two or more times) suspension of the permit during the last twelve months;

3. a court prohibits the credit bureau from engaging in the type of activity for which it has permission;

4. termination of business activities of the credit bureau;

5. provision of knowingly false information to credit bureaus when obtaining permission.

A court decision to revoke a permit entails the liquidation of the credit bureau.

Article 14. Storage of documents and information of the credit bureau

1. The procedure for storing documents and information of the credit bureau, including those included in the credit history database, is determined by the credit bureau.

2. The credit bureau ensures that information regarding the subject of credit history is stored for five years after the date of receipt of the last information about him.

Article 15. Reorganization and liquidation of credit bureaus

Reorganization and liquidation of credit bureaus are carried out in the manner prescribed by the laws of the Republic of Kazakhstan.

When a credit bureau is reorganized, the credit history database of this credit bureau is subject to transfer to the legal successor formed as a result of a merger, accession, separation or transformation, or to another credit bureau by agreement of the parties. When a credit bureau is reorganized in the form of division, the credit history database of this credit bureau is subject to transfer to the legal successor, if it has its permission, or to another credit bureau by agreement of the parties.

When a credit bureau is liquidated, the credit history database of this credit bureau is subject to transfer to another credit bureau on a reimbursable basis.

Responsibility for maintaining the confidentiality of information contained in the credit history database of a credit bureau lies with the credit bureau and its legal successor during reorganization, and during liquidation - with a liquidation commission appointed by the court or the owner of the property.

If the successor or other credit bureaus are not interested in acquiring a database of credit histories of a reorganized or liquidated credit bureau, it must be transferred free of charge to a credit bureau with state participation.

Chapter 4. Rights and obligations of participants in the system for the formation of credit histories and their use

Article 16. Rights of the credit bureau

The credit bureau has the right:

1. enter into agreements on the provision of information with information providers and (or) on the receipt of credit reports with recipients of credit reports;

2) require from the providers of information specified in subparagraphs 1), 1-1), 2) and 4) of paragraph 1 of Article 18 of this Law, to provide confirmation of receipt of the consent of the subject of the credit history to provide information about him to credit bureaus, with the exception of a credit bureau with state participation and (or) the case provided for in paragraph 4 of Article 25 of this Law, as well as complete and reliable information forming credit histories;

3. open branches and representative offices in the manner prescribed by the legislation of the Republic of Kazakhstan;

3-1) provide, without the consent of the subject of the credit history, negative information about the subject of the credit history or information about the presence or absence of the subject’s credit history in the credit bureau database without disclosing the information contained in the credit history to persons entitled to receive information from the credit bureau in accordance with the legislation of the Republic of Kazakhstan;

3-2) provide, without the consent of the subject of the credit history, information contained in the credit history databases of the credit bureau, to a credit bureau with state participation in the case provided for in subparagraph 10) of paragraph 1 of Article 17 of this Law;

4. have other rights provided for by the legislative acts of the Republic of Kazakhstan and agreements concluded in accordance with this Law.

Article 17. Responsibilities of the credit bureau

1. The credit bureau is obliged:

1. carry out the formation of credit histories;

2) submit credit reports if there is confirmation of receipt of the consent of the subject of the credit history, except for the case provided for in paragraph 4 of Article 25 of this Law;

3) prevent the disclosure of information contained in credit histories, including information constituting bank secrecy, except for the cases provided for by this Law;

4) provide the recipient of the credit report and the subject of the credit history with a corrected credit report if the credit report presented to the recipient, due to the action or inaction of credit bureau employees, contained information that does not correspond to the information provided to the credit bureau by information providers, within five calendar days from the moment of discovery of the specified discrepancy.

If it is necessary for the information supplier to confirm the fact of discrepancy in the credit report issued by the credit bureau, the calculation of the period for submitting the corrected credit report to the recipient of the credit report and the subject of the credit history is carried out from the moment the credit bureau receives the relevant information from the supplier;

5) at the request of the subject of the credit history, provide him with information about the information provider who provided the information disputed by the subject of the credit history;

6) refuse to submit a credit report if the request for its submission is made in violation of the requirements established by the legislation of the Republic of Kazakhstan;

7) submit reports to the National Bank of the Republic of Kazakhstan in accordance with the regulatory legal act of the National Bank of the Republic of Kazakhstan;

8) contact the information provider with a request to correct or supplement the received information, subject to re-registration or clarification if there are appropriate grounds;

9) upon receipt of information from the information provider, no later than the next business day, make changes and additions to the credit history of the relevant entity, with the exception of the information provided for in part two of paragraph 2 of Article 19 and subparagraph 1-1) of paragraph 5 of Article 24 of this Law, which must be entered into the credit history of the relevant entity in real time;

10. contact a credit bureau with state participation to verify the accuracy of the information stored in the credit history database of the credit bureau, as well as make adjustments to information that does not correspond to the information stored in the credit history database of the credit bureau with state participation. The procedure and conditions for contacting a credit bureau with state participation and making adjustments to the credit history databases of the credit bureau are established by the authorized body;

10-1) require from suppliers of information specified in subparagraphs 2), 3-1) and 4) of paragraph 1 of Article 18 of this Law, and recipients of credit reports specified in subparagraphs 2), 3), 4-2), 4-4) and 4-5) of part one of paragraph 1 of Article 20 of this Law, compliance with the requirements for the use of information and communication technologies and ensuring information security when organizing their activities;

11) use electronic information resources and information systems in accordance with the legislation of the Republic of Kazakhstan;

12) ensure equality of all information providers and recipients of credit reports that make up the group for the main type of activity;

13) comply with other requirements established by the legislation of the Republic of Kazakhstan and (or) agreements on the provision of information and (or) on receipt of credit reports.

2. A credit bureau with state participation, in addition to the duties specified in paragraph 1 of this article, is obliged to:

1. provide information on credit scoring and other information, including those related to the calculation of credit scoring, at the request of the authorized body, and the information received is not subject to disclosure;

2. monthly, no later than the fifth day of the month following the reporting month, provide information on the nominal and annual effective interest rates on the loan as of the date of concluding bank loan agreements, agreements on the provision of microcredit to the authorized body.

Article 18. Information providers

1. Information providers are:

1. banks, organizations carrying out certain types of banking operations, organizations carrying out microfinance activities;

1-1) collection agencies, service companies carrying out trust management of rights (claims) under bank loan agreements and (or) agreements on the provision of microcredit within the framework of an agreement on trust management of rights (claims) under bank loan agreements and (or) agreements on the provision of microcredit concluded with the person specified in paragraph 1 of Article 63 of the Law of the Republic of Kazakhstan "On Banks and Banking Activities in the Republic of Kazakhstan" and (or) part one of paragraph 5 of Article 9-1 of the Law of the Republic of Kazakhstan "On Microfinance Activities", or an insurance (reinsurance) organization (hereinafter referred to as service companies), persons specified in subparagraph 9) of paragraph 1 of Article 63 of the Law of the Republic of Kazakhstan "On Banks and Banking Activities in the Republic of Kazakhstan" and paragraph eight of part one of paragraph 5 of Article 9-1 of the Law of the Republic of Kazakhstan "On Microfinance Activities", if the rights (claims) obtained under a bank loan agreement and (or) under the agreement on the provision of a microcredit, these persons have not been transferred to the trust management of the service company, as well as other persons to whom the rights (claims) under bank loan agreements, loan (credit) agreements and agreements on the provision of microcredit to individuals have been transferred;

2. an individual entrepreneur or legal entity selling goods and services on credit or providing deferred payments, the systematized characteristics of which are determined by the Government of the Republic of Kazakhstan;

3. State Corporation "Government for Citizens", which carries out state registration of rights to real estate;

3-1) natural monopoly entities providing public services;

3-2) the authorized body in the field of public administration to restore solvency and bankruptcy of citizens of the Republic of Kazakhstan;

3-3) organizations that provided loans (credits) and (or) microcredits to individuals, with the exception of the persons specified in subparagraph 1) of this paragraph, and for which rights (claims) have not been terminated;

4) other persons on the basis of agreements on the provision of information.

2. Regulatory legal acts of the authorized body on the activities of credit bureaus and the formation of credit histories are mandatory for compliance by information providers insofar as they relate to their activities as information providers to participate in the creation and protection of a credit history database.

Article 19. Rights and obligations of the information provider

1. The information provider has the right:

1. require credit bureaus to use the information provided in accordance with this Law;

2. have other rights in accordance with the legislative acts of the Republic of Kazakhstan and (or) agreements on the provision of information and (or) on receiving credit reports.

3) receive information previously transmitted to it from the credit bureau.

2. Information providers specified in subparagraphs 1), 1-1), 2) and 4) of paragraph 1 of Article 18 of this Law are obliged to:

1. obtain the consent of the subject of credit history to submit information about him to credit bureaus, with the exception of a credit bureau with state participation, as well as the cases provided for in paragraph 4 of Article 25 of this Law and Article 68 of the Law of the Republic of Kazakhstan “On Banks and Banking Activities in the Republic of Kazakhstan”;

2. enter into an agreement on the provision of information with a credit bureau with state participation;

3. provide information to credit bureaus on the terms, to the extent and in the manner determined by this Law and the agreement on the provision of information;

4. make adjustments to the information transmitted to the credit bureaus at the request of the subject of the credit history;

5. provide information to credit bureaus with which an agreement on the provision of information has been concluded, in strict accordance with the available information about the subject of the credit history;

6. use electronic information resources and information systems in accordance with the legislation of the Republic of Kazakhstan;

7. provide appropriate conditions for receiving and processing information at their own expense;

8) provide information to the credit bureau in the manner determined by the agreement on the provision of information, within:

one working day about the subject of credit history - an individual, provided for in subparagraphs 1), 2) and 3-2) of part one of paragraph 1 and paragraph 3 of Article 24 of this Law - for providers of information specified in subparagraphs 1) (except for credit partnerships), 1-1) (except for collection agencies) and 4) paragraph 1 of Article 18 of this Law;

ten working days from the date of change or receipt of any data regarding the subject of the credit history - for providers of information specified in subparagraphs 1), 1-1) (except for collection agencies) and 4) paragraph 1 of Article 18 of this Law;

thirty calendar days from the date of change or receipt of any data regarding the subject of the credit history - for collection agencies and other providers of information specified in subparagraphs 2) and 3-1) of paragraph 1 of Article 18 of this Law.

Information providers specified in subparagraph 1) (with the exception of credit partnerships and pawnshops) of paragraph 1 of Article 18 of this Law, in the manner determined by the agreement on the provision of information, are obliged to provide the credit bureau in real time with the following information about the subject of the credit history - an individual:

on filing an application for concluding a bank loan agreement, an agreement on providing a microcredit, indicating the individual identification number of the individual, the amount and purpose of the bank loan, microcredit.

Information providers specified in subparagraphs 1) and 1-1) of paragraph 1 of Article 18 of this Law comply with the requirements for the use of information and communication technologies and ensuring information security when organizing their activities, established by the regulatory legal act of the authorized body.

2-1. Information providers specified in subparagraph 3-1) of paragraph 1 of Article 18 of this Law are obliged to:

1. enter into agreements on the provision of information with a credit bureau with state participation and other credit bureaus;

2) fulfill the requirements of subparagraphs 3), 4), 5), 6), 7) and 8) of part one of paragraph 2 of this article.

3. Information providers specified in subparagraph 3) of paragraph 1 of Article 18 of this Law:

1. if they conclude an agreement with a credit bureau on the provision of information, they must comply with the requirements for other information providers established by this Law;

4. Suppliers of information to credit bureaus who do not carry out activities that previously entailed their participation in the credit bureau system are required to update information on all entities previously transferred by them to the credit bureau database before terminating contractual relations with these entities.

5. Information providers specified in subparagraphs 2), 3-1) and 4) of paragraph 1 of Article 18 of this Law comply with the requirements for the use of information and communication technologies and ensuring information security when organizing their activities, determined by agreements on the provision of information and (or) receipt of credit reports, concluded in accordance with the legislation of the Republic of Kazakhstan.

Article 20. Recipients of credit reports

1. Recipients of credit reports are:

1). (or) under the agreement on the provision of a microloan, these persons are not transferred to the trust management of the service company;

2. an individual entrepreneur or legal entity selling goods and services on credit or providing deferred payments, the systematized characteristics of which are determined by the Government of the Republic of Kazakhstan;

3. other persons on the basis of agreements for the provision of information, as well as persons who are residents of the Republic of Kazakhstan, on the basis of the consent of the subject of a credit history, received in accordance with the regulatory legal act of the authorized body on the procedure for obtaining consent of subjects of credit histories to information providers specified in subparagraphs 1), 1-1), 2) and 4) of paragraph 1 of Article 18 of this Law, to provide information about them to credit bureaus (except for a credit bureau with state participation), registration of consent to issue a credit report about it to other persons from the credit bureau;

4. subject of credit history;

4-1) the person in whose favor a bank guarantee or surety is issued;

4-2) a representative of bondholders in relation to the credit report of the bond issuer, with whom an agreement has been concluded on representing the interests of bondholders;

4-3) the authorized body in the field of public administration for restoring solvency and bankruptcy of citizens of the Republic of Kazakhstan, financial manager;

4-4) banking ombudsman;

4-5) microfinance ombudsman;

4-6) an authorized state body that provides leadership in the field of ensuring tax revenues and other obligatory payments to the budget;

5) authorized body;

6) National Bank of the Republic of Kazakhstan.

Recipients of the credit report specified in subparagraph 4) of this paragraph have the right to receive a credit report only about themselves.

Recipients of a credit report specified in subparagraph 4-1) of part one of this paragraph have the right to receive a credit report only on guarantees or sureties issued by the bank in their favor.

Recipients of the credit report specified in subparagraph 4-2) of part one of this paragraph have the right to receive a credit report only about the bond issuer with whom an agreement has been concluded to represent the interests of bondholders.

Recipients of the credit report specified in subparagraph 4-3) of part one of this paragraph have the right to receive a credit report only about a citizen of the Republic of Kazakhstan against whom a case has been initiated to apply a procedure for restoring solvency or judicial bankruptcy, and who has filed an application for applying an extrajudicial bankruptcy procedure in accordance with the Law of the Republic of Kazakhstan “On restoration of solvency and bankruptcy of citizens of the Republic of Kazakhstan.”

Recipients of the credit report specified in subparagraph 4-6) of part one of this paragraph have the right to receive information from the credit report only on individuals who have an obligation to submit declarations on assets and liabilities, income and property who are in debt to collection and microfinance organizations, in the manner and in the form established by the authorized state body that provides management in the field of ensuring tax revenues and other obligatory payments to the budget, in agreement with authorized body.

The provisions of part six of this paragraph do not apply to information submitted to credit bureaus by banks and organizations carrying out certain types of banking operations to form a credit history of an individual.

It is not permitted to provide credit reports to persons not specified in this paragraph.

2. The persons specified in subparagraphs 1), 2), 3), 4-2), 4-4) and 4-5) of part one of paragraph 1 of this article, after concluding an agreement on receiving credit reports, must register with the credit bureau as recipients of credit reports.

Article 21. Rights and obligations of the recipient of the credit report

1. The recipient of a credit report has the right:

1. receive a credit report;

2. have other rights in accordance with the legislative acts of the Republic of Kazakhstan.

2. The subject of a credit history has the right to receive a credit report about himself free of charge once during a calendar year, with the exception of the case provided for in subparagraph 4) of Article 17 of this Law, when the subject is provided with a corrected credit report.

2-1. The subject of credit history - an individual has the right to receive free information from the credit bureau about his own credit scoring in the manner determined by the credit bureau.

2-2. Recipients of the credit report specified in subparagraph 4-4) of part one of paragraph 1 of Article 20 of this Law receive credit reports free of charge.

3. Recipients of the credit report specified in subparagraphs 1), 2), 3) and 4-2) of paragraph 1 of Article 20 of this Law are obliged to:

1. submit to the credit bureau confirmation of receipt of the consent of the subject of the credit history to receive a credit report about him, except for the case provided for in paragraph 4 of Article 25 of this Law;

2. report changes in the information provided by him when registering as a recipient of a credit report;

3. maintain confidentiality regarding the credit report and not disclose the information contained therein to third parties;

4. use the information contained in the credit report only for the purposes provided for in Article 26 of this Law;

5. at the request of the subject of the credit history, familiarize him with the contents of the credit report or issue him, in accordance with the internal rules of the recipient of the credit report, a copy of the credit report;

6. pay for the services of a credit bureau to provide a credit report;

7. bear other responsibilities in accordance with the legislative acts of the Republic of Kazakhstan.

4. Recipients of the credit report specified in subparagraphs 4-4) and 4-5) of part one of paragraph 1 of Article 20 of this Law are obliged to:

1. submit to the credit bureau confirmation of receipt of the consent of the subject of the credit history to receive a credit report about him, except for the case provided for in paragraph 4 of Article 25 of this Law;

2. report changes in the information provided by him when registering as a recipient of a credit report;

3. maintain confidentiality regarding the credit report and not disclose the information contained therein to third parties;

4. use the information contained in the credit report only to resolve disagreements arising from a bank loan agreement concluded by an individual with a bank, an organization carrying out certain types of banking operations, an organization carrying out microfinance activities, upon his request in order to reach an agreement on satisfying the rights and legally protected interests of the individual and the bank, an organization carrying out certain types of banking operations, an organization carrying out microfinance activities, as well as in cases of settlement of disagreements, arising between a borrower who is an individual and a person to whom the right (claim) has been assigned under a bank loan agreement and (or) a microcredit agreement concluded with such a borrower, based on the borrower’s application.

5. bear other responsibilities in accordance with the laws of the Republic of Kazakhstan.

Article 22. Rights of the subject of credit history

The subject of credit history has the right:

1. give consent to the information provider to submit information about him to credit bureaus for the formation of a credit history, with which the information provider has entered into an agreement on the provision of information, with the exception of a credit bureau with state participation;

2. give consent to the recipient of the credit report to receive a credit report about him;

3. receive, in accordance with the requirements established by this Law, a credit report about yourself from the moment information about it is received by the credit bureau;

4. when considering his application for a loan, require the recipient of the credit report to familiarize himself with the credit report or issue, in accordance with the internal rules of the recipient of the credit report, a copy of the credit report received by the recipient from the credit bureau;

5. express disagreement with the information contained in the credit report, with the possibility of obtaining information about the supplier;

6. request a corrected credit report from credit bureaus if the credit report provided to the recipient, due to the actions or inactions of credit bureau employees, contained information that does not correspond to the information provided by information providers to the credit bureaus;

7. contact the information provider with a request to correct inaccurate information.

8) establish a free voluntary refusal to receive bank loans, microcredits, or remove it in the credit bureau, through the “electronic government” web portal or information facilities of a bank, an organization carrying out certain types of banking operations, an organization carrying out microfinance activities, integrated with services hosted on the “electronic government” gateway.

Chapter 5. Providing information to credit bureaus

Article 23. General conditions for providing information to credit bureaus

1. Information providers specified in subparagraphs 1), 1-1), 2) and 4) of paragraph 1 of Article 18 of this Law are required to provide information to a credit bureau with state participation, as well as, with the consent of the subject of credit history on the basis of agreements on the provision of information, to other credit bureaus, except for the case provided for in paragraph 4 of Article 25 of this Law.

Information providers specified in subparagraph 3-1) of paragraph 1 of Article 18 of this Law are required to provide information to a credit bureau with state participation and other credit bureaus.

The conditions for the provision of information by suppliers specified in parts one and two of this paragraph to credit bureaus and the receipt of credit reports are determined by agreements on the provision of information and (or) receipt of credit reports, concluded in accordance with the legislation of the Republic of Kazakhstan.

2. Excluded by the Law of the Republic of Kazakhstan dated December 28, 2011 No. 524-IV (shall be enforced upon the expiration of ten calendar days after its first official publication).

3. The State Corporation "Government for Citizens", which carries out state registration of rights to real estate, provides information to credit bureaus on the basis of agreements concluded with them on the provision of information in the manner and on the conditions determined by the authorized body.

The provision of information to a credit bureau with state participation by central executive bodies and legal entities subordinate to them is carried out on the basis of an agreement concluded with it in the manner established by the legislation of the Republic of Kazakhstan on informatization using the electronic information exchange gateway of the authorized body in the field of informatization.

4. Information is provided by suppliers to credit bureaus in electronic form. Cases of providing information on paper are determined by the internal documents of credit bureaus and the agreements they conclude with information providers.

5. Information providers, with the exception of information providers specified in subparagraph 3-1) of paragraph 1 of Article 18 of this Law, keep records of the consents they have received from credit history subjects to provide information about them to credit bureaus (with the exception of a credit bureau with state participation).

6. The consent of subjects of credit history to submit information about them to credit bureaus on paper or in electronic form must be stored by the information provider for at least ten years from the date of provision of the last information about them to credit bureaus.

7. Legal entities, on the basis of an agreement concluded with a credit bureau, provide information about subjects of credit history that can be included in a credit report, and (or) receive analytical and (or) statistical information from the credit bureau without disclosing personal data, and also in accordance with the requirements established by the legislation of the Republic of Kazakhstan.

Article 24. Information provided to credit bureaus

1. Information provided to credit bureaus by information providers specified in subparagraphs 1) and 3-3) of paragraph 1 of Article 18 of this Law must contain:

1. the amount of debt on a loan received by a person in a given bank or organization carrying out certain types of banking operations, as well as the total amount of debt on all loans received by him, conditional and possible obligations;

2. date of issue, date (scheduled and actual) of loan repayment (indicating the source of repayment), as well as conditional and possible liabilities;

3. information on the composition and methods of securing the fulfillment of obligations (with the exception of collateral stored in safe boxes, cabinets and bank premises);

3-1) negative information about the subject of the credit history, if available;

3-2) information on the nominal and annual effective interest rates on the loan as of the date of concluding a bank loan agreement, an agreement on the provision of a microcredit;

3-3) information on the settlement of an individual’s debt by concluding an additional agreement to a bank loan agreement and (or) a microcredit agreement or a new bank loan agreement and (or) a microcredit agreement, indicating the date of their conclusion and (or) on the refusal to change the terms of the bank loan agreement and (or) a microcredit agreement, as well as information on the collection of an individual’s debt under a bank loan agreement and (or) a microcredit agreement;

4. other information determined by the regulatory legal act of the authorized body.

For the purposes of this paragraph, a loan means bank borrowing, leasing, factoring, forfaiting operations, bill accounting, as well as the provision of microloans.

1-1. Information provided to credit bureaus by collection agencies regarding rights (requirements) acquired from banks, organizations carrying out certain types of banking operations, organizations carrying out microfinance activities under bank loan agreements, microloan agreements and service companies, persons specified in subparagraph 9) of paragraph 1 of Article 63 of the Law of the Republic of Kazakhstan "On Banks and Banking Activities in the Republic of Kazakhstan" and paragraph eight of part one of paragraph 5 of the article 9-1 of the Law of the Republic of Kazakhstan "On Microfinance Activities" in the event that the received rights (requirements) under a bank loan agreement and (or) under an agreement on the provision of a microcredit are not transferred by these persons to the trust management of the service company, as well as other persons to whom the rights (requirements) under bank loan agreements, loan (credit) agreements and agreements on the provision of microcredit to individuals are transferred, must contain:

1. the total amount of debt, including the amount of the principal debt, remuneration, commissions, penalties (fine, penalty), as of the date of acquisition of the debt;

2. date of acquisition of the debt;

3. date (scheduled and actual) of debt repayment;

4. information on the composition and methods of ensuring the fulfillment of obligations;

5. negative information about the subject of the credit history, if any;

5-1) information on the settlement of debt by concluding an additional agreement to a bank loan agreement and (or) an agreement for the provision of a microcredit or concluding an agreement on the conditions for the execution of a court decision or a notary’s writ of execution on the collection of debt under a bank loan agreement or an agreement for the provision of a microloan, indicating the date of their conclusion and (or) on the refusal to change the terms of the bank loan agreement and (or) an agreement for the provision of a microloan, the terms of execution of the court decision or the writ of execution a notary on debt collection under a bank loan agreement or a microcredit agreement, as well as information on debt collection under a bank loan agreement and (or) a microcredit agreement;

5-2) information about the settlement of debt as a result of trust management of the rights (claims) that the policyholder (insured) has to the person responsible for losses compensated as a result of insurance of the person’s liability for obligations arising from a bank loan agreement and (or) a microcredit agreement;

6. other information determined by the regulatory legal act of the authorized body.

2. Information provided to credit bureaus by an individual entrepreneur or legal entity selling goods and services on credit or providing deferred payments must contain the following information:

1. the amount of debt on the loan, as well as for all goods and services received on credit;

2. date of issue, date (scheduled and actual) of loan repayment;

3. information on the composition and methods of ensuring the fulfillment of obligations;

4. other information by agreement of the parties.

3. Information about the subject of credit history - an individual, provided in accordance with the requirements of paragraphs 1 and 2 of this article, must contain the last name, first name, patronymic, date of birth, place of residence, legal address, name and details of the identity document, individual identification number.

4. Information about the subject of credit history - a legal entity, provided in accordance with the requirements of paragraphs 1 and 2 of this article, must contain the name, legal form, location, number and date of state registration as a legal entity, business identification number, last name, first name, patronymic of the top managers and their individual identification numbers.

5. Information provided to credit bureaus by the State Corporation "Government for Citizens" must contain information:

1. for individuals - last name, first name, patronymic, date of birth, place of residence, legal address, name and details of an identity document, individual identification number, information on registration of property rights and other rights, as well as encumbrances on real estate;

1-1) for individuals - last name, first name, patronymic (if indicated in the identification document), date of birth, place of residence, legal address, name and details of the identification document, individual identification number, information about the establishment or withdrawal of a voluntary refusal by an individual to receive bank loans, microcredits;

2. for legal entities - name, legal form, location, number and date of state registration as a legal entity, business identification number, bank details, information on registration of property rights and other rights, as well as encumbrances on real estate.

The State Corporation "Government for Citizens" provides credit bureaus with the information provided for in subparagraph 1-1) of part one of this paragraph in real time.

5-1. Information provided to credit bureaus by information providers specified in subparagraph 3-1) of paragraph 1 of Article 18 of this Law is determined by the agreement on the provision of information and must contain the following information:

1. the amount of debt for the service received by the person from the information provider;

2) the date of occurrence and repayment of the debt;

3) the number of days of delay as of the date of provision of information;

4) the amount of penalties (if any);

5) type of service;

6) information about the subject of the credit history - an individual (last name, first name, patronymic (if indicated in the identity document), place of residence, legal address, individual identification number);

7) information about the subject of credit history - a legal entity (name, legal form, location, business identification number, last name, first name, patronymic (if indicated in the identity document) of the top managers and their individual identification numbers);

8) other information by agreement of the parties.

For the purposes of this paragraph, debt means the overdue debt of service recipients to the information provider.

5-2. Information provided to credit bureaus by information providers specified in subparagraph 4) of paragraph 1 of Article 18 of this Law is determined by the agreement on the provision of information and must contain the following information:

1. the amount of debt for the service received by the person from the information provider;

2) the date of occurrence and repayment of the debt;

3) information about the property that serves as security and (or) has an encumbrance due to the presence of debt (if any);

4) other information by agreement of the parties.

6. The list of information provided for in paragraphs 2 and 5 of this article may be supplemented by agreement between the credit bureau and the information provider on the basis of an agreement on the provision of information entered into by them, if this does not contradict the requirements established by the legislation of the Republic of Kazakhstan.

Article 25. Registration of consent of the subject of credit history to provide information and issue a credit report

1. The consent of the subject of credit history to the providers of information specified in subparagraphs 1), 1-1), 2) and 4) of paragraph 1 of Article 18 of this Law to provide information about him to credit bureaus (except for a credit bureau with state participation) and (or) the consent of the subject of credit history to issue a credit report about him to the recipient of the credit report from the credit bureau is drawn up in the manner established by the legislation of the Republic of Kazakhstan.

2. The consent of the subject of information - an individual can also be formalized by an authorized person acting on the basis of a power of attorney, drawn up in accordance with the legislation of the Republic of Kazakhstan on notaries.

3. For the lack of consent of the subject of the credit history to the providers of information specified in subparagraphs 1), 1-1), 2) and 4) of paragraph 1 of Article 18 of this Law, to provide information about him to credit bureaus (except for a credit bureau with state participation) for the formation of a credit history and (or) to issue a credit report about him from the credit bureau, as well as for its incorrect execution, the information provider, the recipient of the credit report who submitted a request for a credit report, or their officials are liable liability in accordance with the Code of the Republic of Kazakhstan on Administrative Offenses.

4. The consent of the subject of a credit history is not required to provide negative information about this subject to credit bureaus and the provision by credit bureaus to information suppliers of credit reports containing negative information about the subject of a credit history.

The consent of the subject of credit history - an individual is not required for the supplier of information specified in subparagraph 3) of paragraph 1 of Article 18 of this Law, the information provided for in subparagraph 1-1) of part one of paragraph 5 of Article 24 of this Law to credit bureaus and the provision of such information by credit bureaus to the providers of information specified in subparagraph 1) of paragraph 1 of Article 18 of this Law.

Article 26. Grounds and purposes for using information and credit reports

1. The basis for the provision of information by suppliers, with the exception of information suppliers specified in subparagraphs 3-1) and 3-2) of paragraph 1 of Article 18 of this Law, information to credit bureaus (except for a credit bureau with state participation), as well as the issuance of credit reports from credit bureaus, is the consent of the subject of the credit history.

2. Information in the credit bureau system can be used by recipients of credit reports for the purposes of:

1. risk assessment when providing, monitoring and prolongation of loans;

1-1) assessing the creditworthiness of the subject of credit history;

2. assessing risks when changing the terms of loan agreements;

3. risk assessments for other transactions with deferred payments;

4. confirmation of the correctness of the information contained in the credit report;

5) assessing the risks when carrying out activities by recipients of credit reports specified in subparagraph 3) of paragraph 1 of Article 20 of this Law.

3. Credit bureaus have the right to use information received from information providers for their marketing, analytical and statistical research.

4. The credit bureau has the right to provide credit bureaus of foreign states and receive from them information about the presence or absence of a subject’s credit history if there is an agreement on the exchange of information between the authorized body and the relevant supervisory authority of the foreign state.

5. Cross-border exchange is carried out through the interaction of authorized organizations of foreign states and credit bureaus on the terms of cross-border exchange agreements concluded between them, agreed upon with the authorized body.

6. The agreement on cross-border exchange contains the following conditions for the implementation of cross-border exchange:

1. rules and regulations for information interaction;

2) the language in which information is generated and transmitted;

3) description of formats and structures of electronic documents and information;

4) list (composition) of identification data;

5) the procedure for resolving disputes, including the procedure for challenging the subject of a credit history with information included in credit histories;

6) financial conditions for providing information;

7) requirements for organizational and technical support for information security;

8) other conditions necessary for cross-border exchange.

7. Cross-border exchange is carried out subject to the consent of the subject of the credit history for cross-border exchange, which is valid for six months from the date of its submission.

The consent of the subject of the credit history for cross-border exchange is formalized as part of the application of the subject of the credit history to conclude an agreement on the provision of a loan or other transaction between the user of the credit history and the subject of the credit history.

If, during the period specified in part one of this paragraph, a loan agreement or other transaction was concluded between the user of the credit history and the subject of the credit history, the consent is valid until the expiration of the agreement or other transaction.

8. Information and other information in respect of which cross-border exchange is carried out includes:

1. request for a credit report;

2) consent of the subject of the credit history for cross-border exchange;

3) credit report;

4) documents related to challenging information included in credit histories.

9. Authorized organizations and the user of credit history when carrying out cross-border exchange are obliged to ensure the protection of data and information in respect of which cross-border exchange is carried out during their processing, storage and transmission.

10. Information and information obtained during cross-border exchange can be used by the user of the credit history solely for the purpose of formalizing credit relationships and (or) monitoring formalized credit relationships.

Chapter 6. Relations on the formation of credit histories and their use

Article 27. Agreements concluded with information providers and recipients of credit reports

1. In order to fulfill their obligations to provide information, information providers specified in subparagraphs 1), 1-1) and 2) of paragraph 1 of Article 18 of this Law are required to enter into agreements with a credit bureau with state participation on the provision of information within one hundred and eighty calendar days from the date of state registration of the credit bureau with state participation and (or) compliance of information providers with the characteristics defined in subparagraphs 1), 1-1) and 2) of paragraph 1 of Article 18 of this Law. Information providers specified in subparagraphs 1), 1-1), 2), 3) and 4) of paragraph 1 of Article 18 of this Law have the right to enter into an agreement on the provision of information with other credit bureaus within the time limits specified in the agreement on the provision of information.

Information providers specified in subparagraph 3-1) of paragraph 1 of Article 18 of this Law are required to enter into an agreement on the provision of information with other credit bureaus within the time limits specified in part one of this paragraph.

2. The agreement on the provision of information must contain the following conditions:

1. data of an individual entrepreneur or the full name of the parties, information about their place of residence, legal address or location, bank details;

2) the duration of the contract, the grounds and procedure for its modification, termination and unilateral termination, including in the event of non-compliance by information suppliers specified in subparagraphs 1), 1-1), 2), 3-1) and 4) of paragraph 1 of Article 18 of this Law, requirements for the use of information and communication technologies and ensuring information security when organizing their activities, as well as the amount of fines for violation of obligations under the contract;

3) mandatory receipt by suppliers of information specified in subparagraphs 1), 1-1), 2) and 4) of paragraph 1 of Article 18 of this Law, the consent of the subject of credit history to provide information about him to credit bureaus, with the exception of a credit bureau with state participation, as well as the case provided for in paragraph 4 of Article 25 of this Law;

4) types, volume, terms (frequency), procedure for providing information that forms credit histories, terms of payment for services provided by the parties to the agreement;

5. the obligation of the credit bureau to use the information provided only in accordance with the purposes provided for by this Law;

6. the obligation of the credit bureau to maintain confidentiality in relation to all information received and to disclose it only on the grounds, conditions and in the manner provided for by this Law;

7. the obligation of the information provider to maintain confidentiality in relation to all information sent to the credit bureau;

8. excluded - dated July 27, 2007 N 317;

9. responsibility of the parties, including the responsibility of the information provider in the event of providing false information to the credit bureau;

10) the obligation of the information provider to comply with the requirements for the use of information and communication technologies and ensure information security when organizing its activities;

11) requirements for the use of information and communication technologies and ensuring information security when organizing the activities of information providers specified in subparagraphs 2), 3-1) and 4) of paragraph 1 of Article 18 of this Law, corresponding to the requirements established by the regulatory legal act of the authorized body.

3. The agreement on receiving credit reports must contain the following conditions:

1. data of an individual or full name of the parties, information about their place of residence, legal address or location, bank details;

2. the duration of the agreement, the grounds and procedure for its modification, termination and unilateral termination, including in the event of failure by recipients of credit reports specified in subparagraphs 1), 2), 3), 4-2), 4-4) and 4-5) of part one of paragraph 1 of Article 20 of this Law, requirements for the use of information and communication technologies and ensuring information security when organizing their activities, as well as the amount of fines for violation of obligations under the agreement;

3. mandatory receipt of the consent of the subject of credit history to issue a credit report about him to the recipient of the credit report, except for the case provided for in paragraph 4 of Article 25 of this Law;

4. the amount of information contained in credit reports and the procedure for obtaining credit reports;

5. the obligation of the recipient of credit reports to not disseminate information contained in the credit report;

6. the obligation of the recipient of the credit report to use the information provided only in accordance with the purposes provided for in this Law;

7. responsibility of the parties;

8) the obligation of the recipient of the credit report to comply with the requirements for the use of information and communication technologies and ensuring information security when organizing its activities;

9. requirements for the use of information and communication technologies and ensuring information security when organizing the activities of recipients of credit reports specified in subparagraphs 2), 3), 4-2), 4-4) and 4-5) of part one of paragraph 1 of Article 20 of this Law, corresponding to the requirements established by the regulatory legal act of the authorized body.

5. Unilateral refusal to fulfill obligations under an agreement on providing information to a credit bureau is not allowed, unless otherwise provided by the said agreement.

Article 28. Registration with the credit bureau as a recipient of a credit report

To register with the credit bureau, the persons specified in subparagraphs 1), 2), 3) and 4-2) of part one of paragraph 1 of Article 20 of this Law submit the following documents:

1. application for registration with a credit bureau;

2) notarized copies of licenses issued by the authorized body to carry out licensed types of activities (for organizations carrying out licensed types of activities or licenses in electronic form);

3) a copy of the certificate of state registration as an individual entrepreneur - for an individual;

3-1) certificate of state registration (re-registration) of a legal entity - for a legal entity;

4) information about the last name, first name, patronymic (if any) and position of persons authorized to make requests to credit bureaus. If necessary, the specified information is certified by the electronic digital signature of these persons.

The persons specified in subparagraphs 4-4) and 4-5) of part one of paragraph 1 of Article 20 of this Law submit the following documents for registration with the credit bureau:

1. application for registration with a credit bureau;

2. an extract from the minutes of the meeting of the council of representatives of the banking or microfinance ombudsman on his election;

3) information about the last name, first name, patronymic (if it is indicated in the identity document) and position of persons authorized to make requests to credit bureaus. If necessary, this information is certified by means of an electronic digital signature of such persons.

Article 29. Provision of a credit report

1. The grounds for providing a credit report are:

1. the presence of consent of the subject of the credit history to issue a credit report about him, except for the case provided for in paragraph 4 of Article 25 of this Law;

2. compliance of the recipient of the credit report with the requirements of this Law;

3. a request from the recipient of the credit report with confirmation of the consent of the subject of the credit history to provide a credit report, except for the case provided for in paragraph 4 of Article 25 of this Law.

The requirements of this paragraph do not apply to cases of submitting a credit report at the request of the authorized body and the National Bank of the Republic of Kazakhstan, as well as the authorized state body in charge of ensuring the receipt of taxes and other obligatory payments to the budget, for the debt of individuals who have an obligation to submit declarations on assets and liabilities, income and property, to collection and (or) microfinance organizations.

2. The credit bureau keeps records of requests for credit reports and records of provided credit reports.

3. The request is submitted on behalf of the recipient by his specially authorized person responsible for submitting the request to the credit bureau, information about which is contained in the register of recipients of the credit bureau.

3-1. The consent of the subjects of credit history to issue a credit report about them on paper or in electronic form must be kept by recipients of credit reports for at least ten years from the date of receipt of the consent of the subject of the credit history, unless otherwise provided by part two of this paragraph.

The consent of the subject of the credit history to issue a credit report, obtained upon concluding a bank loan agreement, an agreement to provide a microcredit, must be kept by recipients of credit reports for at least five years from the date of expiration of the relevant agreement, but not less than ten years from the date of receipt of the consent of the subject of the credit history.

4. The provision of a credit report to the subject of a credit history by a credit bureau is carried out on the basis of a written request or a request in electronic form from the subject of a credit history.

5. A credit report for a subject of credit history must contain information on all facts of submission of credit reports on the credit history of this subject within one calendar year, indicating the date of issue, names and details of recipients.

5-1. The credit report must contain information about the submission by the subject of credit history - an individual of an application to conclude a bank loan agreement, an agreement to provide a microcredit within one month after the date of receipt of the information specified in paragraph two of part two of paragraph 2 of Article 19 of this Law.

6. When providing a credit report, the credit bureau is obliged to indicate all providers of information and the date of receipt of this information by the credit bureau.

7. The provision of a credit report is carried out on the grounds, conditions and in the manner provided for by the legislation of the Republic of Kazakhstan.

8. For distortion of information received from information providers, the credit bureau bears responsibility established by the legislation of the Republic of Kazakhstan on administrative offenses.

Article 30. Payment for services for the provision of information and credit reports

For services provided by information providers and credit bureaus, a fee is established, the amount and procedure for collection of which are determined in accordance with the agreement.

There is no charge for the provision of information to the credit bureau by information providers, or for the receipt of information and credit reports by the authorized body of the credit bureau.

Chapter 6-1. Features of providing information and obtaining a credit report on bank guarantees and sureties

Footnote: Footnote. The law is supplemented by Chapter 6-1 in accordance with the Law of the Republic of Kazakhstan dated December 28, 2011 No. 524-IV (shall be enforced upon the expiration of ten calendar days after its first official publication).

Article 30-1. Providing information on bank guarantees and sureties to the credit bureau

1. Banks provide information on bank guarantees and sureties, the list of which is established by paragraph 3 of this article, to a credit bureau with state participation and if there is the consent of the debtor person for the bank to provide information about him and the guarantees or sureties issued by the bank at the request of the debtor person to other credit bureaus on the basis of agreements on the provision of information.

2. The form of consent of the debtor to the provision by the bank of information about him and the guarantees or sureties issued by the bank at the request of the debtor to the credit bureau is established by a regulatory legal act of the authorized body.

3. Information on guarantees and sureties issued by the bank, provided to the credit bureau, must contain:

1)-4) are no longer in force by the Law of the Republic of Kazakhstan dated January 12, 2012 No. 538-IV (to come into effect from January 1, 2013);

4-1) name of the legal entity-debtor, on whose behalf the bank issued a guarantee or issued a guarantee, number and date of state registration as a legal entity, business identification number;

4-2) last name, first name, patronymic (if any) of the individual debtor, on whose behalf the bank issued a guarantee or issued a guarantee, date of birth, place of residence, legal address, name and details of an identification document, individual identification number;

4-3) the name of the legal entity-creditor of the debtor, in whose favor the bank issued a guarantee or issued a surety, as well as information about the date of state registration as a legal entity, business identification number (or other information provided for by the legislation of the state in which the non-resident is registered, identifying him as a legal entity);

4-4) last name, first name, patronymic (if any) of the individual creditor in whose favor the bank has issued a guarantee or issued a surety, an individual identification number, as well as information about the date of birth, place of residence, legal address, name and details of an identity document (or other personal data provided for by the legislation of the state in which the non-resident is registered);

5) name of the bank that issued the guarantee or surety;

6) number and date of the bank guarantee or surety agreement;

7) the maximum amount of money payable under a bank guarantee or surety agreement, unless otherwise established by the bank guarantee or surety agreement;

8) the period for which a bank guarantee or surety is issued, or a circumstance (event) upon the occurrence of which the obligation of the bank that issued the bank guarantee or surety is terminated (validity period of the bank guarantee or surety), unless otherwise established by the bank guarantee or surety agreement;

9) number and date of issue of the bank guarantee or surety.

The list of information provided for in this paragraph may be supplemented by agreement between the credit bureau and the bank on the basis of an agreement on the provision of information concluded by them, if this does not contradict the requirements established by the legislation of the Republic of Kazakhstan.

4. The conditions for banks to provide information on issued bank guarantees and sureties to the credit bureau are determined by an agreement on the provision of information concluded in accordance with paragraphs 1 and 2 of Article 27 of this Law.

5. Information on bank guarantees and sureties is provided by banks to credit bureaus in electronic form. Cases of providing information on paper are determined by the internal documents of credit bureaus and the agreements they conclude with information providers.

6. Banks keep records of the consents they have received from debtors to provide the bank with information about them and the issued bank guarantee or issued guarantee to the credit bureau (with the exception of a credit bureau with state participation).

Article 30-2. Formation of a credit report on a bank guarantee and surety

1. The credit bureau is obliged to generate a credit report on a bank guarantee or surety based on information provided by the bank in accordance with paragraph 3 of Article 30-1 of this Law.

2. A credit report on a bank guarantee and surety is generated separately for each guarantee issued by the bank or each guarantee issued by the bank.

Article 30-3. The procedure for submitting a credit report on a bank guarantee and surety

1. The basis for submitting a credit report on a bank guarantee or surety is the consent of the debtor to the credit bureau presenting this report to the person in whose favor the bank issued the bank guarantee or surety.

2. The procedure for submitting a credit report on a bank guarantee and surety is established by a regulatory legal act of the authorized body.

Chapter 7. Final provisions

Article 31. Features of dispute resolution

1. An application from a subject of a credit history to dispute the information contained in a credit report, submitted by him to a credit bureau or information provider, must contain the last name, first name, patronymic, place of residence, legal address and details of an identification document of an individual, the name and information about the location of the legal entity, as well as an indication of the disputed information and a requirement to provide reliable information. The application is signed by the applicant or his authorized representative. Copies of documents referred to by the applicant may be attached to the application.

2. The information provider or credit bureau is obliged to review the application within fifteen working days from the date of receipt of the application and take one of the two actions provided for in paragraphs 3 and 4 of this article.

3. If the distortion of information received by the credit bureau occurred as a result of technical errors of the information provider or credit bureau, as a result of other actions or inactions of their employees, the information provider is obliged, within ten working days from the date of discovery of the distortion, to provide to the credit bureau the information available to the information provider on the date the distortion was discovered. The credit bureau is required to provide the recipient with a corrected credit report.

4. If the disputed information corresponds to the information of the credit bureau, the information provider, then the information provider and (or) the credit bureau send the applicant a written refusal to satisfy the application indicating the sources of receipt of the disputed information within the period specified in paragraph 2 of this article.

5. If an applicant who has received a refusal to satisfy an application applies again, the costs associated with its submission, consideration and sending a reasoned response are borne by the applicant.

If there are disagreements regarding the distribution of costs, the disputes are resolved in court.

Article 32. Responsibility for violation of the legislation of the Republic of Kazakhstan on credit bureaus and the formation of credit histories

Violation of the legislation of the Republic of Kazakhstan on credit bureaus and the formation of credit histories entails liability provided for by the laws of the Republic of Kazakhstan.

President of the Republic of Kazakhstan