Loan rejections under 7-20-25 state program connected with bad credit history and absence of sufficient official revenues - Akishev

Date: 13:27, 22-01-2019.

Astana. January 22. KazTAG - The main reason for rejection of loan requests under 7-20-25 state program is bad credit history and absence of sufficient official revenues, said Daniyar Akishev, chairman of the National Bank.
"The main reason of rejections is a bad credit history and absence of sufficient official revenues," said D. Akishev at the session of the Government.
He marked, out of 4 350 approved applications loan rejections concerned 1 237 applications.
The National Bank had ordered the Government to involve people into 6-20-25 housing state program who already own housing in order to activate the program. According to D. Akishev one of the barriers for the program activation is a lack of new housing in the regions of Kazakhstan. He offered to provide housing construction in the perspective districts of Kazakhstan taking into account population migration, demand and demographic growth.
According to the preliminary estimations of the National Bank, approximately 16 000 flats are needed to satisfy housing demand in 2019.

Photo source: picture from an open source

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