Kazakhstanis over 65 will not be able to apply for loans online

Tengrinews.kz — Kazakhstani citizens over the age of 65 are now required to visit a bank branch in person when applying for a loan. This measure was introduced to protect against phone scammers who convince people to take out loans and transfer funds to criminals, National Bank Chairman Timur Suleimenov said.
During a briefing, journalists highlighted cases where scammers contact elderly Kazakhstanis and persuade them to take out large loans. In this regard, the head of the National Bank was asked why banks continue to issue such loans and whether requirements could be further tightened.
Timur Suleimenov responded that some of the necessary measures have already been implemented.
According to him, Parliament introduced legislative changes last year regarding loan procedures for young people aged 18 to 21, as well as citizens over 65.

"For these categories, a mandatory physical presence at a bank branch is required," Suleimenov said.

He explained that scammers most frequently exploit remote loan applications.

"The basis of the fraud is when a person is 'guided' over the phone. They apply for a loan online and pass biometrics without ever entering a bank or speaking to a manager. They are constantly told what to do and, if you'll excuse the expression, they press the buttons as if in a trance, receive the loan, and immediately transfer the money to the scammers," the head of the National Bank said.

Therefore, according to Timur Suleimenov, the requirement to visit a bank branch in person was introduced.
The National Bank chief emphasized that under this system, the responsibility shifts to bank managers.

"If a bank manager sees that a person is under outside influence, does not understand why they need a loan, or says, for example, 'I was called and told to get a loan' — the bank is then obligated to refuse the loan. This is not a matter of choice. They must say: 'No, dear customer, we will not issue this loan to you,'" he stated.

Suleimenov noted that compliance with these requirements is monitored by the Agency for Regulation and Development of the Financial Market.
According to him, in terms of systemic measures, the state has already strengthened protections for the most vulnerable categories of citizens.

"We have protected young people who lack life experience and elderly citizens who are easier to deceive. We can provide a more detailed response on specific issues together with the Agency," the National Bank head concluded.

New Lending Rules
In September 2025, new lending rules aimed at protecting citizens from fraud came into effect in Kazakhstan. Specifically, a "cooling-off period" has been introduced for online loans, and banks are required to conduct additional checks if there is a suspicion that a loan is being processed under the influence of criminals.
Earlier, Olzhas Kizatov, Deputy Chairman of the Agency for Regulation and Development of the Financial Market, stated that regulators do not plan further tightening of lending rules. According to him, the measures already taken have significantly slowed the growth of unsecured consumer loans, and new restrictions will only be considered if necessary.