Integrites has the honor to bring to your attention the following information, which we hope may be useful in your company activities.
The Resolution of the Board of the National Bank of the Republic of Kazakhstan “On establishment of limitations on conducting certain types of bank and other operations” shall come into force on April 1, 2014. According to the Resolution disbursement of certain types of loans to citizens of the Republic of Kazakhstan (borrowers) shall depend upon leverage ration of the borrower. The maximum leverage ration shall not exceed 0.5. When deciding providing a loan, second tier banks (commercial banks) shall absolutely examine the leverage ration of the borrower. Such examination shall be conducted by the banks by virtue of their self system of borrowers’ creditworthiness assessment. In other words, should monthly loan payments exceed 50% of the borrower’s monthly income, the banks shall not provide the loan.
The same limitation shall be applied to opening of a credit line; disbursement of additional loan as part of concluded loan agreement; amendment of conditions of credit line’s opening and (or) provision of loan, which entails increase of the amount of periodic payments under such loan.
We hope that the above information will be useful for you.
For more information, please contact our firm.
We will be happy to assist.