LEGAL COMPARATIVE ANALYSIS OF CONSUMER LENDING REGULATION (EXPERIENCE OF EUROPE, RUSSIA AND KAZAKHSTAN)

Authors

  • Ruslan Baishev

DOI:

https://doi.org/10.52026/2788-5291_2022_69_2_254

Keywords:

Consumer credit, responsible lending, microfinance organizations, debt load of the population, case law

Abstract

On May 24, 2021, Kazakhstan adopted the Law on amendments and additions to certain legislative acts of the Republic of Kazakhstan on the regulation of banking, microfinance and collection activities in the Republic of Kazakhstan.

 This caused by increasing role of consumer lending, involvement of a large amount of the population in it and the potential danger of a social explosion in the context of an economic crisis and pandemic.

The same reasons determined the choice of the declared topic of this research.

The methodological basis of the article is a generalized view of the new basic trends in some aspects of lending in modern economic conditions, entailing fundamental changes in the policy of credit institutions, understanding of credit availability and, accordingly, new rules of behaviour for all participants in this process.

There is no doubt that the newly set trends in this important branch of economic activity will also have an impact on the features of the legal settlement of this area, as well as the consideration of disputes arising from credit obligations by courts. As examples, we refer to the comparative experience of Europe, the Russian Federation and the Republic of Kazakhstan.

This article examines the continuity of the European Union's regulatory principles for consumer lending, implemented in the legislation of the Russian Federation and Kazakhstan.

Published

30.06.2022

How to Cite

Baishev Р. Ж. (2022). LEGAL COMPARATIVE ANALYSIS OF CONSUMER LENDING REGULATION (EXPERIENCE OF EUROPE, RUSSIA AND KAZAKHSTAN). Scientific and Legal Journal «Bulletin of the Institute of Legislation and Legal Information of the Republic of Kazakhstan», 2(69). https://doi.org/10.52026/2788-5291_2022_69_2_254