ABOUT THE COMPANY
General information about the company
"Returned Assets Management Company" LLP is a company of the Government of the Republic of Kazakhstan September 2023, 21 was established by resolution.
The management company is a commercial organization whose sole founder and participant is the Government of the Republic of Kazakhstan.
COMPANY PURPOSE
01
Management and maintenance
Effectively maintain returned assets
Commercial use of assets (prior to sale) to replenish the Special State Fund.
02
Ensuring safety
Protect assets from loss, damage, and other potential risks.
03
Sale of assets
Sale of assets to replenish the state budget through open and competitive procedures.
Assets returned in cash are credited directly to the Special State Fund.
The management company shall maintain accounting records and submit separate financial statements for its own funds and returned assets in accordance with the procedure established by this Law and other laws of the Republic of Kazakhstan.
DUTIES OF THE MANAGEMENT COMPANY
Acceptance of assets returned to it on behalf of the state
Ensuring the preservation and retention of assets converted into state revenue
Asset release
Ensuring the transfer of funds from the sale of assets to the Special State Fund
INTERNATIONAL COOPERATION
"Recovered Asset Management Company" LLP is actively strengthening its international relations and participating in global initiatives on the management of recovered assets. In 2024, the company achieved significant success in developing partnerships with leading organizations around the world, contributing to the exchange of experience and the introduction of best practices.
Main events:
April 2024
Join the International Property Management Forum (IPAF) as an associate member.
May 2024-28, 29
Join the Balkan Inter-Agency Asset Management Network (BAMIN) as an observer.
July 2024, 16
Signing of a cooperation agreement with the National Agency of Ukraine on Asset Identification, Search and Management.
September 2024-11, 13
Participation in the International Public Asset Management Forum (IPAF) held in Hangzhou, China.
IPAF's main objectives include:
Strengthen regional cooperation: Promote partnerships and exchange of experiences among Asian countries, especially in the area of non-performing loans (NPL) management.
Optimizing institutional structures: creating favorable conditions for the functioning of NPL markets and strengthening regulation in the asset management industry (AMC).
Increase knowledge exchange: Encourage collaborative research and education initiatives to increase efficiency in asset management and implementation.
Overall development: Upholding the principles of transparency and equality for NPL market participants, contributing to the sustainable development of the financial system in Asia
September 2024-17, 19
Participation in the meeting of the Balkan Asset Management Inter-Agency Network (BAMIN) in Ohrid, North Macedonia
The purpose of the event: to discuss current issues related to asset management, with a special focus on the effective management of cryptoassets.
November 2024-25, 27
A seminar on the World Bank's strategy was held with the support of "Recovered Asset Management Company" LLP. As part of this event, representatives of the World Bank visited Kazakhstan, held a meeting at the company's office, and discussed key issues of cooperation.
About the company
By the decree of the Government of the Republic of Kazakhstan dated 2023, «Returned Asset Management Company» LLP was established with 21% state participation in the authorized capital.