Information on FPL
From 2012 to 2017, the FPL was managed by the National Bank of the Republic of Kazakhstan. In 2017, the FPL was transferred to the management of the Ministry of Finance of the Republic of Kazakhstan.
The sole shareholder of the FPL is the Government of the Republic of Kazakhstan.
The mission of the FPL is to contribute to the improvement of the national economy through:
- NPL acquisition from commercial banks;
- Involvement of acquired NPLs into the economic turnover through their rehabilitation and sale.
Membership in international organizations
- China Cinda Asset Management Co., Ltd. (PRC)
- China Great Wall Asset Management Corporation (PRC)
- China Huarong Asset Management Co., Ltd. (PRC)
- Korea Asset Management Corporation (KOR)
- Sukhumvit Asset Management Co., Ltd. (Thailand)
- Vietnam's Debt and Asset Trading Corporation (Viet Nam)
- Fund of Problem Loans JSC (Kazakhstan)
Memorandum of Understanding with KAMCO
In 2018, a Memorandum of Understanding was signed between the FPL and the Korea Asset Management Corporation (KAMCO). KAMCO was established in 1962 as a subordinate organization of the Korea Development Bank to manage its problem assets. Later, KAMCO was reorganized and was given the competence to acquire and rehabilitate NPLs of financial institutions.