New digital debt-resolution platform in Kazakhstan.
ACIPE is pleased to highlight a new digital platform developed by its member, First Credit Bureau Kazakhstan together with the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market and the banking and microfinance ombudsmen.
The platform allows eligible borrowers with overdue debts to several creditors to submit one application and receive a consolidated repayment schedule of up to five years or up to seven years for socially vulnerable citizens. After approval borrowers sign the documents electronically and make one monthly payment, which is distributed among creditors automatically.
The initiative supports voluntary debt resolution, consumer protection and financial inclusion through a coordinated digital approach.
Congratulations to First Credit Bureau Kazakhstan and its partners on the launch of this important solution.