Banks to share account and deposit data of state benefit recipients

From 1 January 2027, second-tier banks in Kazakhstan will begin transferring information to the Ministry of Labour and Social Protection of the Population needed to assess the wellbeing of families applying for state aid. Labour Minister Askarbek Yertayev announced this at a session of the kurultai. The report was filed by a correspondent of the Kapital.kz business information centre.

Information on accounts and deposits will be provided with the consent of the benefit recipient and family members. The data will be used to more accurately determine whether a household genuinely needs state financial support. Under the new mechanism, benefit decisions will take into account not only official incomes and property, but also other indicators reflecting a family's real financial situation.

The main tool will be a digital family card that combines information from various state information systems. According to the minister, it assesses a household across 8 main areas and more than 50 indicators, including employment, income, movable and immovable property, debt and education. A comprehensive assessment is carried out monthly. Prime Minister Olzhas Bektenov said the reform is expected to save 700 billion tenge in 2027, with about 2.5 trillion tenge released over three years.