Bbabo NET

Society News

Kazakhstan introduced a ban on fines on loans during an emergency

The Kazakh authorities are introducing a ban on fines and penalties for late payments on loans for individuals and legal entities affected by the introduction of the state of emergency. It is reported by Sputnik Kazakhstan.

Madina Abylkassymova, Chairperson of the Agency for Regulation and Development of the Financial Market, said that the relevant order was adopted by the agency the day before, on January 11.

"For the period of the state of emergency, a ban has been introduced on the accrual of fines and penalties in case of delays in loans, and claims work has been suspended," Abylkassymova said.

Mass protests began in Kazakhstan on January 2, with citizens expressing dissatisfaction with the two-fold increase in prices for liquefied gas. In Alma-Ata, the largest city in the republic, riots, looting, attacks on government agencies and security forces began.

The country's authorities declared a state of emergency in the country until January 19 and launched a counter-terrorist operation. As of January 11, in Kazakhstan, more than two thousand people were brought to justice for violating the state of emergency. In addition, the republic's authorities launched 412 pre-trial investigations against participants in the riots, including acts of terrorism and murders.

Kazakhstan introduced a ban on fines on loans during an emergency