Following the Conference, the Association of MFOs of Kazakhstan (AMFOK) and the “National Chamber of Collectors of Kazakhstan” (NCCK) signed a memorandum on interaction and cooperation on the pre-trial settlement of loan-related disputes.
The purpose of the memorandum is to organize cooperation between collection organizations and the microfinance organizations that are members of AMFOK on the pre-trial settlement of debt collection disputes through conciliation procedures, including assistance in providing individual repayment schedules and deferrals to debtors through the Stop-collector.kz project, as an alternative way of resolving conflicts that arise for debtors of microfinance organizations.
Clients’ requests for restructuring or deferrals on microloans will be received by a representative of the association of collectors and forwarded to MFOs for processing. In addition, the microfinance ombudsman, established on the initiative of the MFOs that are members of AMFOK, will be involved in working with MFO clients on such requests.
The main task of MFOs and collection organizations is to strengthen the pre-trial settlement of microloan disputes related to debt collection, to promptly resolve debt disputes on each request directly with MFOs and collection organizations, and to ensure a comprehensive and objective review of requests and complaints about the actions of MFOs and collection organizations.
