Illustration: AI
A social media user in Kazakhstan has proposed creating a special salary account protected from being frozen. For now, this is an initiative backed by others in the discussion, rather than an announced rule change, according to Kursiv. Responding to a proposal from MPs, the National Bank proposed leaving debtors enough to cover the subsistence minimum and avoiding freezing all their accounts at once.
Why debtors report problems opening salary accounts
Zhenis Dzhakutov, a user in the “Tax Consultants of Kazakhstan” group, described the difficulties he faced after his bank accounts were frozen. He said banks also refuse to open new accounts for debtors.
This makes it harder to get a job if an employer requires an account at a particular bank.
How the proposal would protect salaries from being frozen
Zhenis Dzhakutov proposed amending regulations to introduce the concept of a “special salary account”. Under his proposal, opening one would require a certificate from an employer.
Only money from the employer would be paid into this account. The author of the initiative proposes protecting it from restrictions: “Money will come only from the employer, and no restrictions can be imposed on such an account!”
Other group members supported the appeal to the National Bank.
Is there a proposal to let debtors keep 50% of their income?
MPs previously proposed allowing debtors to retain at least 50% of their income in frozen accounts.
The National Bank proposed a different approach: leaving an amount equal to the subsistence minimum. The regulator also proposed avoiding freezing all of a debtor’s accounts at once.
How many people complained about frozen accounts?
In August, complaints about frozen accounts accounted for 9% of all submissions by Kazakhstan residents to the financial regulator. A total of 1.3 thousand people contacted the regulator about this problem.
In plain terms
A protected salary account is still only a proposal under discussion.
