Olzhas Kizatov, Deputy Chairman, The Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market
Financial inclusion is becoming one of the key elements of socio-economic sustainability, both globally and in Kazakhstan. For citizens and businesses, it means the ability to access a wide range of financial services on convenient and fair terms. For the state, it is a strategic instrument for developing human capital, stimulating entrepreneurship, and strengthening trust in the financial system.
At the strategic level, this agenda is enshrined in the Concept for the Development of the Financial Sector of the Republic of Kazakhstan until 2030, reflecting a systemic approach to building an inclusive and sustainable financial environment. Over recent years, the country has moved from isolated, targeted initiatives to a comprehensive financial inclusion policy. The main directions of this process have been the active digitalization of financial services, strengthening consumer protection, and providing targeted support to specific vulnerable population groups.
In 2025, a package of legislative amendments was implemented to enhance the level of financial protection for citizens and simplify access to financial services. Key measures include:
– protection from collection by third parties of funds received by victims in natural emergencies;
– mandatory loan payment deferrals for a period of at least three months provided by banks and microfinance organizations to socially vulnerable groups and persons affected by emergency situations;
– abolition of penalty fees for early loan repayment by individuals;
– establishment of clear timeframes for financial institutions to consider customer appeals, not exceeding 15 business days, with the possibility of extension for an equivalent period;
– introduction of a model ensuring the systematic integration of customer rights and interests protection into the day-to-day operational and management processes of financial institutions, allowing consumer interests to be taken into account at every stage of financial service provision.
Special attention is paid to the financial inclusion of vulnerable groups. In 2023, the National standard on the accessibility of financial institutions’ branches for persons with disabilities and other persons with limited mobility was adopted. It includes requirements for bank branch infrastructure, remote services, and communications, and initially had a recommendatory nature. In 2025, banks and microfinance organizations were required to take into consideration the needs of persons with disabilities and persons with limited mobility, including the possibility of service provision through an authorized representative.
In addition, in cooperation with the Alliance for Financial Inclusion (AFI), training was conducted for employees of Kazakhstan’s financial sector on best practices in inclusive service provision for persons with disabilities. Participants studied international experience in financial inclusion, and developed a shared vision of possible market changes, as well as prospects for the development of new, more accessible financial products.
Financial literacy is a crucial tool for protecting rights and enhancing the financial resilience of citizens. Kazakhstan’s financial literacy index increased from 39.5% in 2021 to 42% in 2025. To further strengthen this indicator, a comprehensive approach is being implemented: the national platform FinGramota.kz is being developed, educational services are being integrated into the eGov ecosystem, and targeted efforts are being carried out with key population groups, including school students, youth, pensioners, and entrepreneurs. This approach ensures access to knowledge tailored to the needs of each audience, and contributes to the formation of a financially literate society. In conclusion, financial accessibility in Kazakhstan is being shaped as a comprehensive state policy based on systemic reforms, digital transformation, consumer protection, and the principles of social inclusion. The goal of this policy is to ensure that every citizen can use financial services safely, conveniently, and on fair terms, while enabling sustainable development of the financial sector. This approach is allowing Kazakhstan’s financial market to develop in a responsible, balanced and inclusive manner, serving the interests of society and the national economy.