International experience in protecting borrowers' rights and the possibilities of its application in Kazakhstan

Abstract

Abstract. The article will provide an in-depth analysis of international experience in protecting borrowers' rights. It will consider legal mechanisms and practices used in different countries and their potential adaptation in Kazakhstan. The main aspects of consumer lending regulation will be discussed, including measures to ensure transparency of credit terms, mechanisms to protect against unscrupulous lenders, and tools aimed at reducing debt burdens for the population. Data and analytical materials will be presented to reflect the effectiveness of different methods of protecting borrowers, as well as successful international practices. Comparative analysis will examine legislative initiatives in countries with developed consumer protection systems, such as the European Union and the United States, and explore their potential application in Kazakhstan.. The article discusses the issues of improving the country's credit rating system. Special attention is paid to analyzing the current state of borrowers' rights protection in Kazakhstan, as well as identifying weaknesses in legislation and enforcement practice. The paper considers the prospects for improving national regulation based on international experience, including the introduction of mechanisms for monitoring creditors' activities, the development of an ombudsman system, and strengthening state supervision over credit institutions. This article presents a comprehensive approach to studying borrower protection issues, based on international standards and best practices. It also makes recommendations for adapting these practices to the conditions in Kazakhstan. The main goal of the study is to analyze international experience in protecting borrowers' rights and propose ways to apply it in Kazakhstan.