Government considers draft law on public repatriation of illegally withdrawn assets

Prime Minister Alikhan Smailov held a meeting of the Economic Policy Council with the participation of the heads of central government agencies, the Presidential Administration, the National Bank and the Prosecutor General's Office, El.kz cites primeminister.kz.

The participants reviewed the draft law on the return of illegally withdrawn assets to the state, which was developed in accordance with the tasks set by the President. It contains provisions to eliminate conditions for the illegal withdrawal of assets, to stimulate voluntary or initiate their forced return, etc.

Thus, a limited register of persons who have to submit a special declaration of assets is planned to be formed based on the results of analysis of information from the authorized state agencies. If the owner of the assets fails to confirm their origin, they will be recognized as unlawfully acquired and subject to recovery to the state.

The returned assets will be used to finance projects aimed at improving the welfare of the people of Kazakhstan.

The Prime Minister instructed the Ministry of Justice to continue a thorough study of the bill, taking into account the views and comments expressed.

The participants of the meeting also discussed the implementation of investment projects in agriculture.

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