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Kazakhstan Commission Approves Return of Illegally Acquired Assets

in Corruption / Kazakhstan - by


On March 29, 2024, a commission meeting was held under the chairmanship of the Prime Minister of Kazakhstan, Olzhas Bektenov. The government press service noted that the commission meeting took place with a renewed composition, including Banu Ganievna Nurgazieva, President of the Civil Alliance of Kazakhstan, and Marat Sovetovich Bashimov, a member of the Parliament's Majilis.

A series of agreements on the return of illegally acquired assets totaling over 85 billion tenge were approved during the meeting. These assets include residential and administrative buildings in Kazakhstan and abroad, cash, stakes in companies, expensive jewelry, and over 10,000 hectares of land, as stated in the announcement.

Additionally, the commission approved filing a lawsuit to convert a company of unexplained origin worth over 10 billion tenge into state revenue. This company had previously illegally come under the control of an entity regulated by the Law of the Republic of Kazakhstan on the return of illegally acquired assets.

The commission's decision also led to the addition of two new individuals to the law subjects' registry. The Assets Recovery Committee of the General Prosecutor's Office will undertake relevant actions concerning these individuals.

Prime Minister Olzhas Bektenov emphasized that the work on returning illegally acquired assets will be intensified without exerting pressure on businesses. All assets returned to the state will be allocated for socially beneficial purposes.

The commission's efforts are ongoing, with a focus on ensuring the transparent and lawful return of assets. Vice Minister of National Economy Bauyrzhan Kudaibergenov previously provided insights on the allocation of assets returned from abroad on March 5, 2024.