Nearly $200K of loan debt written off Kazakh residents

Baku, Azerbaijan, October 16

By Nargiz Sadikhova - Trend:

Over the course of the period frоm October 3 to October 10 of 2019 fines on loans worth 74.8 million tenge (approximately $191,773) has been written off from accounts of 21,275 physical entities in Kazakhstan, Trend reports with reference to the press office of Kazakh Ministry of Finance.

Thus, according to the information, number of physical entities who paid off the debt in Almaty city is 65,042 people, making the city a leading one in the country.

Almaty city also leads by the value of paid off debt: 4.440 billion tenge (approximately $11.383 million). Furthermore, as of January 1, 2019, the value of debt of Almaty residents amounted to 5.5 billion tenge (approximately $14.1 million).

Aktobe region is the second area of Kazakhstan which leads by the number of those who have paid off the main debt (34,684 people). Kostanay region is third by the same indicator (28.975 people).

Second best by the value of paid off debt is Nur-Sultan city. Residents of Kazakh capital paid debt worth 483.9 million tenge (approximately $1.240 million). Residents of Kostanay region paid 459.8 million tenge of the main debt (approximately $1.178 million).

Within the framework of the implementation of the decree of the president dated June 26, 2019 “On measures to reduce the debt burden of citizens of the Republic of Kazakhstan”, the National Bank, State Credit Bureau JSC, Fund for Problem Loans JSC together with second-tier banks and microfinance organizations decided to write off the fines and penalties on unsecured consumer loans at banks and microfinance organizations for all Kazakhs accumulated by July 1, 2019.

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Follow the author on twitter: @nargiz_sadikh

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