Financial organisations in Kazakhstan will now be required to disclose not only the advantages of their products in advertising, but also the associated risks. These requirements are stipulated in a new package of subordinate regulatory legal acts, approved on 27 July 2026 by the Agency for Regulation and Development of the Financial Market (ARDFM).
WHAT HAS CHANGED
The new requirements apply to banks, microfinance and insurance organisations, as well as certain participants in the securities market. The documents introduce a unified system for managing financial products at all stages — from development and market launch to changes in terms and cessation of provision.
One of the key innovations is the unified rules for advertising, selling and servicing financial products. Financial organisations are obliged to provide accurate and balanced information about the terms, cost, benefits and risks of a product, and to eliminate unfair promotional practices.
HOW THIS WILL AFFECT CLIENTS
Before concluding a contract, the financial organisation must assess whether the product is suitable for a particular consumer, taking into account their goals, financial situation and ability to bear the associated risks. In addition, products must undergo preliminary testing, and after being launched on the market, organisations are obliged to monitor the results of their use and, if necessary, change the terms or cease sales if risks to clients are identified.
WHAT ELSE WILL CHANGE FOR CLIENTS
Before concluding a contract, banks, microfinance and insurance organisations will have to assess whether the financial product is suitable for a particular consumer. This will take into account the client's goals, their financial situation and ability to bear potential risks.
Furthermore, the regulator will change its approach to supervising the financial market. It will now assess not only whether financial organisations comply with legal requirements, but also whether financial products meet consumers' interests and whether they create risks for clients. According to the agency's statement, if such risks are identified, financial organisations will be required to change the product's terms or cease its sale.
WHEN THE NEW RULES WILL COME INTO FORCE
The new supervisory model is aimed at preventing harm to consumers. Whereas previously the main focus was on financial organisations' compliance with legal requirements, the regulator will now also assess whether financial products align with clients' interests and whether they deliver a fair outcome for them.
The new rules will come into force on 1 January 2027.
