Today, 30 April, the Zhogorku Kenesh approved in the first reading a bill that excludes one of the functions of the National Bank — the creation and management of a financial conciliation service.

The initiator of the changes was MP Daniyar Tolonov.

The bill in question is a provision of the law that required the National Bank to establish a special service to resolve disputes between citizens and banks or other financial institutions without going to court. The National Bank was also responsible for how this service operated, how it was financed and how it interacted with other agencies.

Now it is proposed to remove this responsibility. As the deputy explained, the relevant clause of the law has been deemed obsolete.

What will happen next is still unknown: the law has only passed its first reading. Further discussions and a final vote are still to come.