The Financial Market Regulation and Development Agency has developed amendments to the rules for providing microloans electronically to increase the security of financial services.
The amendments require biometric data from citizens during client registration in the personal account for making changes to the subscriber's mobile phone number or bank account details (excluding microloans provided through terminals).
In cases where the ownership of the bank account or payment card cannot be identified, money transfers to the client will not be processed.
It is stipulated that the transfer of a microloan at the borrower's request to the bank account of a legal entity, with which the microfinance organization has a contract for payment for purchased goods or services rendered by the borrower, is carried out using biometric identification through the use of the State Corporation for Information Technology and Security Services or with the client's biometric data obtained during client registration through the organization's devices.
Biometric identification ensures protection against the use of static images or videos for falsifying client biometric data by verifying the client's execution of unique sequences of control movements during biometric identification.
Furthermore, the amendments establish requirements for microfinance organizations to ensure the security of storing client data obtained during biometric identification.
According to developers, the proposed measures will strengthen the security requirements for providing microloans electronically.
The project is available on the "Open Regulatory Acts" portal for public discussion until April 8, 2024.
Earlier reports indicated that Kazakhstan aims to prohibit the issuance of loans without the approval of spouses.
