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Kazakhstan's Senate Returns The Law On Collective Activity For Finalization

Sunday, April 9, 2017 - 08:38

The deputies of the upper chamber of the Kazakh parliament (Senate) have returned the draft law on collection activities for revision and finalization to the lower chamber (Majilis). In the course of the discussion, taking into account the proposals and comments of the Senate committees, it became necessary to amend the draft law that had been approved by the Majilis. In addition, the senators returned another related draft law to the lower chamber. It provides for the introduction of changes and additions into some legislative acts of Kazakhstan related to collection issues. During the discussion of this draft law, a decision was made: to introduce a number of changes in the document, taking into account the proposals of the Senate.

 

The objectives of the new law “On Collector Activity” are: to regulate collection activities; to increase transparency, efficiency and security in debt collection; to protect the interests and rights of debtors from illegal actions committed by collection agencies; to reduce social tension and increase public confidence.

 

Earlier, chairman of the National Bank of Kazakhstan Daniyar Akishev stated that despite the existence of collection companies for a long time and their extensive involvement in public life, the activities of these structures are not regulated by legislation, and the state does not have any control over them. According to him, at present there are about 60 companies in the republic that collect debts on the basis of agreements concluded with banks. The collection agencies are working with a total of one million debtors of banks.



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http://easttime.info/news/kazakhstan/kazakhstans-senate-returns-law-collective-activity-finalization