Illustration: AI
Kazakhstan’s National Bank is discussing three measures for non-bank installment plans, but has no plans to restrict access to them. The regulator’s deputy chairman, Vitaly Tutushkin, announced this (kursiv.media). The proposals aim to help shoppers understand installment terms and see the full picture of their debts.
What happened
In September 2026, the National Bank published a discussion paper on the installment market. The regulator is studying products offered by non-financial companies that share some features with consumer loans. It wants to assess the size of the market and the risks to shoppers.
These are contracts with payment schedules, fixed deadlines and late-payment penalties. An informal arrangement to pay later at a neighborhood shop does not fall into this category. The discussion includes BNPL, or “buy now, pay later,” which splits the cost of a purchase into several payments.
What this means for shoppers
One detail matters here: an installment plan adds to your debt burden even if it does not appear in your credit history. According to Tutushkin, transactions with most non-financial companies are not recorded there. They are also outside the scope of existing rules protecting consumers of financial services.
This means other lenders may not see all of a shopper’s financial commitments. Shoppers themselves also find it harder to assess their total debt burden. The terms for applying penalties may also be unclear.
The three measures the National Bank is discussing
The National Bank proposes disclosing all material contract terms, including fines and penalties for late payments. The regulator is also considering advertising requirements to ensure installment offers do not mislead shoppers. The third proposal would have these transactions recorded by credit bureaus, which collect information on debts and payments.
“The main goal is to make the market more transparent and set minimum requirements for consumer protection,” Tutushkin explained. He said the National Bank intends to consider the interests of shoppers and businesses so that the changes do not make goods more expensive or reduce access.
When the new requirements will be decided
For now, these are proposals for discussion. Once government agencies have reached agreement, they will determine the specific rules, the organizations covered and the timeline for drafting the changes. Comments were accepted until November 3, 2026, but the National Bank is willing to consider submissions after that date as well.
Industry associations, representatives of marketplaces and retail companies, and consumers have already submitted their views. The discussion could extend to rent-to-own car agreements and installment plans offered by property developers. After reviewing the proposals, the National Bank will prepare a summary for publication.
