Kazakhstan Authorities Target Illegal Moneylenders with New Regulations
Kazakhstan's Financial Monitoring Agency (AFM) has proposed improvements to regulations concerning interest rates, moneylending activities, and the identification of unlicensed lending. The General Prosecutor's Office reported that 19 criminal cases related to illegal microfinance activities have been initiated this year, with 10 already sent to court. An interdepartmental working group is developing a draft regulation for interaction between the AFM and the Financial Regulation and Development Agency (ARFRR).
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