Yuriy Lee: "It is possible to significantly improve the situation with non-performing loans"

In September, President Kassym-Jomart Tokayev drew attention to the fact that, amid declining lending to the real economy, banks have increasingly shifted their focus toward consumer loans. This trend has contributed to growing risks for the financial system and rising household indebtedness. The President instructed the government and regulators to develop and implement new systemic measures to fundamentally improve the situation.

What are the root causes of excessive household debt in Kazakhstan? Which segments are having the most negative impact on the financial market? How effective is the interaction between the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market (ARDFM) and microfinance organisations? And how can people protect themselves from credit and financial fraud?

These and other issues were discussed by political analyst Marat Shibutov with Yuriy Lee, Chief Executive Officer of the Financial Culture of Kazakhstan Public Foundation and former member of the Mazhilis of the Parliament of Kazakhstan, in a new episode of "Couch Experts".