Law of the Republic of Kazakhstan on Microlending Organizations

This document presents the Law of the Republic of Kazakhstan on microlending organizations. Articles of the law are presented in different chapters that discuss the various aspects of this Law:

• Chapter I: General provisions providing the basic concepts used in this law;
• Chapter II: The laws related to:
  • Mandatory terms and conditions of agreement on microlending;
  • Rights and responsibilities of both the borrower and the microlending organization.
• Chapter III: The activities of microlending organizations, and:
  • The laws associated with the legal status, authorized capital, internal control function;
  • The procedures for maintaining records, accounting and reporting, and safekeeping of the documents;
  • The activities prohibited for the microlending organizations and the penalty for false advertisement;
  • A decree with regard to the secrecy aspects to be maintained by the microlending organizations.

The document concludes with the final provisions explaining the articles related to public supervision over activities of microlending organizations and consequences in case of violations of the legislation.