National Bank: State Loan Office Starts Operations

The new State Loan Office, which is a nonprofit subsidiary of the National Bank of Kazakhstan, started operations on Oct. 1 and is now accepting personal credit reports as part of its lending operations.

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Since April last year, the organisation has been preparing to bring information systems in line with Kazakh laws concerning the operation of loan offices in the country.

According to the press service of the National Bank, the loan office has successfully passed the test of the state commission. A personal credit report can be issued and sent by mail or introduced personally in the office at the following address: Almaty, 10a Abai Avenue, 9th Floor. The first calendar year report is provided for free.

A personal credit report contains personal information of the debtor, as well as details concerning his current and completed loan agreements, including the number of active and canceled bank or other contracts.

The information about borrowers is provided by 36 commercial banks, 56 microcredit and microfinance institutions, as well as 14 organisations engaged in certain types of banking operations, which cooperate with the loan office.

The office was established Aug. 7, 2012, by the order of the National Bank of Kazakhstan. Its main activity is to create credit histories and provide credit reports in order to build a reference database of credit histories in the country.

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