NBK bans remote loans for Kazakhs over 65
This digest was compiled by AI from multiple sources — links to the originals are below.
Kazakhstan's National Bank has banned remote loan origination for citizens over 65 and those aged 18-21, requiring in-person visits to bank branches. The measure, announced by Chairman Timur Suleimenov, aims to curb telephone fraud that tricks victims into taking loans and transferring funds to scammers. Banks must also refuse loans if staff detect signs of coercion.
The New Rules
Starting immediately, Kazakhs over 65 and those aged 18-21 must visit a bank branch in person to obtain a loan. The requirement, announced by National Bank Chairman Timur Suleimenov, applies to all credit products. Suleimenov stated that the changes were adopted by parliament last year and are designed to protect vulnerable groups from telephone scammers who guide victims through biometric verification and online loan applications.
Bank Staff Responsibility
Bank employees are now required to assess whether a client is acting under duress. If a manager suspects the borrower is being coerced, does not understand the loan purpose, or admits to following instructions from unknown parties, the bank must deny the loan. Compliance is monitored by the Agency for Regulation and Development of the Financial Market.
Previous Safeguards
Since September 2025, Kazakhstan has already implemented a cooling-off period for online loans and mandatory additional checks when fraud indicators are present. The new rules extend protection to the most vulnerable age groups, as Suleimenov noted that young people and the elderly are most frequently targeted by scammers.
What's Next
The National Bank will monitor the implementation of the new rules and may adjust them based on feedback from banks and regulators. It remains unclear whether the in-person requirement will be extended to other age groups or if additional digital safeguards will be introduced.
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NBK bans remote loans for Kazakhs over 65
