Loan issues

"Aqshamat" has shut down, leaving people with debt and damaged credit histories.

The story shared by one of our subscribers highlights the problem: borrowers were making payments on schedule, but the company suddenly closed its offices, disconnected its phone lines, and stopped accepting payments through terminals.

As a result, responsible customers accumulated overdue debt that they are unable to repay.
The regulator did not provide a clear answer on where payments should be made or how the situation should be resolved.
People’s credit histories are being damaged because of someone else’s negligence.

Who will be held accountable? Will the affected borrowers’ credit histories be corrected, or will the consequences fall entirely on ordinary people?

At the moment, we are trying to clarify all the details. We will share updates on any developments related to "Aqshamat".

The international credit rating agency Fitch Ratings has revised its outlook on LLP "MFI Robocash.kz", which operates under the Zaimer brand, from "stable" to "negative".

The rating itself remains unchanged at B-. The revision was driven by regulatory risks following the suspension of the company’s licence to issue new microloans. This article continues our review of the situation surrounding Zaimer, from the violations identified by the regulator to the potential consequences for the company and its clients.

In 2025, the regulator recorded several violations by the microfinance institution "Robocash.kz", which operates under the Zaimer brand.

These included submitting inaccurate information to a credit bureau, failing to provide loan data on time, violating requirements related to biometric identification agreements, and failing to comply with an order issued by the authorized authority.

As a result, the company’s licence was suspended on 29 September 2025.

This article explains why issues involving credit histories, biometric identification, and data reporting directly affect borrowers, and also raises the question of why the MFI has not been permanently stripped of its licence despite the number of violations.

Borrowers of MFI Robocash.kz / Zaimer began submitting questions after the news of the company’s licence suspension. We forwarded these questions to the press service of LLP "MFI Robocash.kz".

The company stated that the licence has been suspended for two months rather than revoked. Previously concluded agreements remain valid, and payments under those agreements continue under the existing terms.

At the same time, the issuance of new microloans has been temporarily suspended, and the extension or modification of existing agreements is prohibited if it increases the borrower’s obligations.

This article explains where and how to make payments on existing microloans and what changes for clients during the licence suspension period.

ARDFM has suspended the licence of LLP "MFI Robocash.kz" for two months, temporarily preventing the company from issuing new loans.

According to the regulator, the decision was prompted by identified violations and failure to comply with a regulatory order.

This article brings together previously identified violations involving Zaimer between 2021 and 2025, ranging from advertising and credit bureau reporting issues to the storage of customers’ personal data without encryption or adequate protection.

The article also raises the question of why, amid persistent problems in the MFI sector, the regulator continues to promote market self-regulation.

Microfinance institutions are violating existing requirements by issuing loans without biometric verification, to deceased individuals, and to foreign citizens who are not physically present in Kazakhstan.

Around 300,000 people were drawn into a debt trap through six MFIs, with total damage exceeding 42 billion tenge.

Representatives of government agencies, including the Agency for Regulation and Development of the Financial Market, the Agency for Financial Monitoring and the Prosecutor General’s Office, took part in the meeting. Following the discussion, the relevant authorities were instructed to promptly review the situation. Citizens were also warned not to transfer funds to third-party bank cards listed as loan repayment details on the "Alem Credit" platform.

The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has suspended the licence of the microfinance institution "Robocash.kz", which operates under the "Zaimer.kz" brand. Violations of legislation have been cited as the reason.

We examine what is known about the situation, what concerns had previously been raised regarding the MFI, and why this case matters for borrowers.