According to her, the real market value of the collateral is not properly taken into account.
“Our citizens are facing serious difficulties and cannot repay their loans on time. How many lives have been broken, how many people have resorted to suicide! It is necessary to pay attention to the responsibility of commercial banks, as this can be classified as fraud. If there are facts of undervaluation of collateral property, then the issue of revoking the licenses of such banks should be initiated,” Kozhokulova asserts.
Sanjar Abdygaziev, a representative of the National Bank, agreed that the unlawful overvaluation of collateral amounts by banks is a violation.
He clarified that the National Bank does not set specific collateral amounts but establishes general requirements and the procedure for determining them. The regulator defines the criteria that banks must consider when assessing collateral property.
