Kazakhstan Life & Culture - The Times Of Central Asia

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Finance

Over 90% of Economically Active Kazakhstanis Have Loans

Lyazzat Usenbekova, director of consumer protection at the Association of Financiers of Kazakhstan, conducted calculations to find out what percentage of Kazakh citizens have debt obligations, concluding that "more than 90% of those who actively participate in the economic life of the country bear the burden of credit obligations on their shoulders." Usenbekova specified that this percentage applies to those who are indebted to credit organizations. At the same time, the structure of loans reveals interesting details: according to her data, almost a third of citizens take out loans for relatively small amounts, meaning no more than 500,000 tenge ($1,115). However, they account for only 1.7% of the total loan portfolio of individuals. Meanwhile, 5% of Kazakhs have debts over 10 million tenge ($22,290), and their share in the total volume of loans accounts for 42.3%. "It may seem that loans for large sums are a cause for concern, but before issuing such loans, clients are carefully checked for their ability to pay, their debt load and other aspects," Usenbekova emphasized. Usenbekova also looked at the category of loans under 300,000 tenge, suggesting they are probably for consumer needs. "Such loans are often interest-free and, with proper borrower discipline, should not cause serious difficulties with repayment," she explained. But there is no perfect picture yet, Usenbekova stated, stressing the need to improve people's financial literacy and their responsibility to their debts. Mazhilis (lower chamber of parliament) representative, Tatyana Savelyeva assessed the prospects of enacting changes envisaged by the draft law on minimizing risks in lending and protecting borrowers' rights. "We are likely to see real results in a few years, when these innovations begin to operate. For example, in debt regulation. By then we will be able to objectively assess their effectiveness," Savelyeva opined. The proposed bill to protect the rights of borrowers provides for a ban on the transfer of debts to collection agencies within 24 months of the start of delinquency and for debt settlement procedures that exclude fines, penalties and commissions.

Rallies Held in Italy in Support of Saltanat Nukenova

On April 13, rallies were held in Italian cities including Rome, Milan, Turin, Bologna and Florence in support of the deceased wife of former Minister of the National Economy of Kazakhstan, Saltanat Nukenova, demanding stricter legislation against domestic violence. The organizers of stressed the importance of exercising the civil right to free assembly and expressed solidarity with victims of domestic violence. The rallies were held in the central squares of different cities, including near St. Mary's Church in Rome. A popular slogan at the actions against violence against women was "No Excuse For Abuse." Participants at the rally shouted slogans, such as "If he hits you, he'll go to jail"; "For Saltanat"; "Every woman is unique!"; "You are not alone"; "There is no justification for violence". A similar event was also held in Barcelona on the same day. The rallies were held against the backdrop of the trial of Nukenova’s former husband; politician Kuandyk Bishimbayev stands accused of her murder.

Kazakhstan Cancels International Forum to Focus on Flood Recovery

Kazakhstan’s president said on Saturday that he has canceled a major international forum scheduled for June in Astana so that the country can tackle nationwide floods. “Due to the severe flooding in Kazakhstan and the need to allocate financial resources for the relief efforts and aid for affected citizens, I have made the decision to cancel the Astana International Forum that was scheduled for June 13-14 this year,” President Kassym-Jomart Tokayev said in a statement. “I sincerely hope that the invited participants will treat this decision with understanding. The Astana International Forum will resume its activities in 2025,” Tokayev said. Floods in many regions of Kazakhstan since last month have forced the evacuation of tens of thousands of people and disrupted transport and communication links. The president has described the floods as Kazakhstan’s worst natural disaster in 80 years. First launched in 2008 as an economic forum, the Astana International Forum aims to attract senior officials from governments, business and other institutions to discuss pressing challenges, such as climate change, food shortages, and energy security.

Social

Fringe Kazakh Politicians Propose Prison Terms for Supporters of LGBT Rights

A fringe group of Kazakh politicians are in favor of imprisoning people for supporting LGBT rights and freedoms. Members of parliament Yedil Zhanbyrshin and Samat Musabayev are proposing an amendment to Article 174 of Kazakhstan's Criminal Code, which ostensibly concerns the 'incitement of discord'. Their idea, reports Tengrinews.kz, is to add the phrase: "including by propaganda of non-traditional sexual relations." The penalties for violating this article range from fines of between $16,200 and $57,500, to a prison term of up to seven years. Zhanbyrshin and Musabayev claim that in Kazakhstani society, a traditional family means a man and a woman, and their children -- including adopted children. In turn, however, members of the Mazhilis (lower house of parliament) have emphasized that the word family, according to the law "On Marriage (Matrimony) and Family," relates to a circle of persons bound by property and personal non-property rights, and obligations arising from marriage. Two other members of the Mazhilis, Askhat Aimagambetov and Zhanarbek Ashimzhanov, from the Amanat Party, have proposed a ban on the media mentioning LGBT people, and to close or suspend any outlet that did. This amendment was also included in the draft law "On Mass Media," which is currently under consideration.

Qazaq Culture Portal Launched in Kazakhstan

In an enlightened new initiative to attract international attention to the country’s rich cultural and historical heritage, the Ministry of Culture and Information of Kazakhstan has supported the creation of an information and educational portal on Qazaq Culture. Available in the six official languages of the United Nations, as well as Kazakh and Turkish, the portal offers a unique and comprehensive insight into Kazakhstan’s many diverse regions. Visitors to the site will be afforded a virtual exploration of the country’s landmarks and attractions in the section, ‘Culture of Kazakhstan Through the Prism of Artificial Intelligence’, and delve deeper into its heritage by accessing source material and publications held in the Archive Fund of Kazakhstan. In addition to a cultural news blog covering a vibrant array of festivals, contests, film and theatre premieres, books, and art exhibitions, the website will feature a single ticket system for all the cultural facilities in Kazakhstan.

World Nomad Games

Sell-Out of U.K. Tours to World Nomad Games in Kazakhstan

Due to an unprecedented demand, U.K. package tours, organized by Regent Holidays and Wild Frontiers, to attend the Fifth World Nomad Games in Astana from 8-14 September 2024, have already sold out. The news, reported by Kazakh Tourism, is perhaps not surprising given that the magazine 'Wanderlust', listed Kazakhstan as one of its top 24 destinations in 2024 on account of the country's hosting the event. With reference to Kazakhstan being the only Central Asian country to make the list, Kairat Sadvakasov, chairman of the board of Kazakh Tourism, commented, "Year after year, Kazakhstan is becoming a center of attraction for foreign tourists. That's because we are a relatively new destination, particularly for American [and] European readers of Wanderlust. To appear on the publication's list shows great progress in the development of our tourist industry. It's also important for us to let everyone know about the World Nomad Games in our capital city. We hope that (it) we will open up a new perspective on Kazakhstan and especially, Astana." The World Nomad Games are international competitions in indigenous ethnic sports historically played by nomadic peoples. Aimed to support the development of ethno-sports and ethno-cultural development, the Games are included in UNESCO's list of intangible cultural heritage. Comprising 20 sports, this year's event will involve some 3,000 competitors from more than 100 countries. Costing $17.9 million to present, the Games are expected to attract 20,000 foreign spectators.