27.05.2020

On May 27, 2020 the Constitutional Council has adopted for proceedings the submission of the Mangystau Regional court declaring unconstitutional subparagraph 5) paragraph 1 article          725-1, paragraph 5 article 718 of the Civil Code of the Republic of Kazakhstan (special part), as well as paragraph 7 of the Rules for calculating the annual effective interest rate under a loan agreement approved by the Resolution of the Board of the National Bank of the Republic of Kazakhstan dated August 27, 2018 №197.

In the submission of the court has raised issues related with the legal regulation of issues of granting a loan, calculating interest and protecting the rights of borrowers.

In accordance with the Constitutional Law «On Constitutional Council of the Republic of Kazakhstan» the work has started on preparing materials to the meeting of the Council at which the submission will be examined on merits.