11 major banks to be audited in Kazakhstan over loans from Kazakhs The Financial Market Regulation and Development Agency (ARFRDF) has launched a new supervisory process, the Debt Service Review (DSR). In this context, the department will check whether the banks correctly calculate the debt burden of the borrowers. The audit will affect 11 large second-tier banks. The agency explained that they want to prevent excessive debt exposure of the population and strengthen control over responsible loans. Before the tests began, ARRDF conducted a pilot project in eight banks. Its results showed that financial institutions calculate the debt ratio (LLR) differently. Therefore, the department decided to introduce ongoing supervision.

11 major banks to be audited in Kazakhstan over loans from Kazakhs The Financial Market Regulation and Development Agency (ARFRDF) has launched a new supervisory process, the Debt Service Review (DSR). In this context, the department will check whether the banks correctly calculate the debt burden of the borrowers. The audit will affect 11 large second-tier banks. The agency explained that they want to prevent excessive debt exposure of the population and strengthen control over responsible loans. Before the tests began, ARRDF conducted a pilot project in eight banks. Its results showed that financial institutions calculate the debt ratio (LLR) differently. Therefore, the department decided to introduce ongoing supervision.