“Rehabilitation and Asset Management Company” JSC will be affiliated to the Fund.
By the Decree of the Government of the Republic of Kazakhstan dated November 16, 2018,
Fund of Problem Loans JSC and “Rehabilitation and Asset Management Company” JSC were reorganized.
According to the document, “Fund of Problem Loans” JSC was reorganized by affiliating to it “Rehabilitation and Asset Management Company” JSC.
Types of activity of the Fund of Problem Loans:
- improvement of the quality of loan portfolios of second-tier banks;
- implementation of measures to repay loans issued to the State Rehabilitation Bank of the Republic of Kazakhstan from the republican budget and the National Bank of the Republic of Kazakhstan;
- recovery to the republican budget of debt on loans previously issued at the expense of the republican budget, as well as funds aimed at fulfilling obligations under state guarantees of the Republic of Kazakhstan;
- servicing of state guaranteed loans and state loans;
- collection of receivables;
- participation in rehabilitation procedures;
- sale of property pledged by a taxpayer (tax agent) or a third party, as well as property of a taxpayer, payer or goods detained by the state revenue authorities.
The Decree is put into force from the date of its signature.