Kazakhstan wants to lift the ban on travel abroad debtors.

Kazakhstan wants to lift the ban on travel abroad debtors.

Deputies of the Majilis proposed to eliminate the practice of a ban on travel abroad for Kazakhstanis who have overdue loans, as well as to tighten the requirements for banks that issue loans to insolvent borrowers.

According to the Deputy Irina Smirnova, it is necessary to reconsider approaches to supervision and to exclude elements which reduce motivation of banks to analyze risks. “Such pictures can be attributed to the ban on travel abroad in the case of outstanding overdue debt. Private organizations, which include banks, should not restrict the movement of citizens for their mistakes in the selection of borrowers. Moreover, it is necessary to tighten the requirements for banks that issue loans to insolvent borrowers, ” the Deputy said.

She also noted that indulging banks, the national Bank creates additional social risks and harms the sovereign rating of our country.

The request was also signed by deputies of the faction “People’s Communists” Zhambyl Akhmetbekov, Galina baymakhanova, Aikyn Konurov, Vladislav Kosarev, Magerram Magerramov and Turgun Syzdykov.

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