Four collection agencies in Almaty have been removed from the relevant registry, reports the business information center Kapital.kz, citing the press service of the Agency for Regulation and Development of the Financial Market.
"In accordance with the orders from the head of the regional representatives department of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market (the Agency) in Almaty dated December 31, 2024, No. 124, the following have been excluded from the registry of collection agencies: LLP 'Collection Agency 'Finance Control', No. 125 - LLP 'Collection Agency 'Golden Collection', No. 126 - LLP 'Collection Agency 'Effective Debt Collection', No. 127 - LLP 'Collection Agency 'Kazakhstan Financial Supervision'. The basis for exclusion from the registry, according to subparagraph 5) of paragraph 1 of Article 9 of the Law of the Republic of Kazakhstan 'On Collection Activities' (hereinafter referred to as the Collection Activities Law), was the failure to carry out collection activities for twelve consecutive calendar months," explains the financial regulator.
In accordance with the requirements of paragraph 5 of Article 9 of the Collection Activities Law, a collection agency must, within 30 calendar days from the date of receipt of the notification from the authorized body regarding its exclusion from the registry of collection agencies, carry out the re-registration procedure by removing the words 'collection agency' and any derivatives from its name, implying that it conducts collection activities.
Within five calendar days from the date of receipt of the notification from the Agency for Regulation and Development of the Financial Market about its exclusion from the registry, the collection agency is obliged to notify the creditors with whom it has entered into debt collection agreements, individuals with whom it has entered into trust management agreements, debtors whose debts were transferred to the collection agency under a debt collection agreement, and debtors whose rights (claims) under bank loan agreements or microcredit agreements were transferred based on trust management agreements.