The Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market
Are there any registered securities in my name?
According to paragraph 2-1 of Article 45 of the Law of the Republic of Kazakhstan “On the Securities Market” (hereinafter – the Law on the Securities Market), the Central Depository is the sole entity on the territory of the Republic of Kazakhstan authorized to carry out depository activities and maintain the system of securities holders’ registers.
In accordance with paragraph 1 of Article 38 of the Law on the Securities Market, the confirmation of rights to equity securities is carried out by providing an account statement from the personal account of the registered person in the accounting system of the Central Depository and/or in the system of nominal holding.
In this regard, to obtain information on the availability of securities, it is necessary to contact the Central Depository (Almaty, 30/8 Satpayev Street, tel. +7 (727) 355-47-60).
It should be noted that securities issued in accordance with the legislation of a foreign state may also be recorded in the accounting system of a custodian and/or a foreign accounting organization under agreements concluded between the custodian and/or foreign accounting organization and the nominal holder (broker or custodian whose clients you are). Accordingly, information on the ownership (or absence) of foreign securities can be obtained from the nominal holders with whom brokerage or nominal holding agreements may have been concluded. Contact details of Kazakhstani nominal holders (brokers, custodians, etc.) are published on the official website of the Agency: https://www.gov.kz/memleket/entities/ardfm/financial-organizations/48?lang=ru.
What mistakes do borrowers most commonly make when taking out a mortgage?
The most common mistakes include underestimating one’s financial capabilities, focusing solely on the amount of the monthly payment without considering the total cost of the loan and the overall amount of interest paid, and overlooking additional expenses associated with purchasi...
What additional expenses, apart from the monthly payment, should be taken into account when purchasing a home with a mortgage?
When purchasing a home with a mortgage, it is important to consider not only the monthly loan payment but also additional expenses associated with acquiring and maintaining the property. These may include property appraisal costs, insurance, notarial and registration fees, taxes,...
Can a borrower lose their home due to a prolonged mortgage delinquency? What is the foreclosure procedure?
In the event of a prolonged failure to fulfill obligations under a mortgage loan, the legislation provides for the possibility of foreclosure on the mortgaged property. However, before such measures are taken, borrowers are provided with a number of tools to settle their debt. In...
What are the “gray” and “black” lists of droppers?
To combat dropper schemes, a centralized system for recording suspicious clients has been established. The system is operated by the Anti-Fraud Center of the National Bank, which receives information from banks, payment organizations, telecommunications operators, and law enforce...
What new requirements have been introduced for the remote issuance and reissuance of bank cards?
For the remote issuance and reissuance of bank cards, financial institutions are required to use two-factor authentication, including biometric identification. Bank cards may only be linked to Kazakhstan-registered mobile phone numbers, which reduces the risk of using foreign SIM...
What is “dropping” and what penalties are provided by law?
“Dropping” refers to the illegal provision, transfer, or use of access to a bank account, payment instrument, or identification tool, as well as the execution of unauthorized payments or money transfers, including on behalf of third parties, in exchange for financial compensation...
How has the regulator strengthened its oversight of collection agencies in recent years?
Since 2017, the Agency has pursued a regulatory policy aimed at strengthening oversight of collection activities, improving the functioning of the debt collection market, and reducing unfair collection practices. Since 2017, the following regulatory measures have been introduced:...
Does a debtor have the right to record a conversation with a collector?
Yes. Under subparagraph 7) of paragraph 1 of Article 16 of the Law on Collection Activities, a debtor and/or their representative has the right to independently record interactions with employees of a collection agency using audio and/or video recording equipment.
