On August, 15, 2022, a seminar was held to explain the main provisions of the draft Law of the Republic of Kazakhstan «On restoration of solvency and bankruptcy of citizens of the Republic of Kazakhstan». The seminar was organized by the State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan, by the drafters of the legislation.

This draft Law was developed in pursuance of the instruction of the Head of State dated January 5, 2022.

Necessity of development was aggravation of the situation in  the debt burden of population, including to second-tier banks, microfinance organizations and collection agencies.