The Cabinet of Ministers presented this draft law for consideration by the Jogorku Kenesh on December 23.
According to the current version of the law, credit bureaus are required to retain information about loans from liquidated legal entities for five years from the date of the last update in the credit history.
The Ministry of Economy insists on reducing this period to two years. The ministry believes that this measure will improve conditions for borrowers who are on the "credit blacklist," enhancing access to loans for individuals and small and medium-sized enterprises, as well as reducing the level of shadow lending.
