The Fund of Problem Loans participated in an International Workshop hosted by ADB and KAMCO on the creation of a cross-border digital platform for NPL trading
Employees of JSC “Fund of Problem Loans” participated in an International Workshop organized by the Asian Development Bank (ADB) jointly with the Korea Asset Management Corporation (KAMCO). The event focused on the development of a unified cross-border digital platform for trading non-performing loans (NPLs).
The seminar, titled “Online NPL Trading Platform – From Concept to Pilot” was held on November 20-21, 2025, and brought together representatives of state-owned distressed asset management companies, as well as digital trading platform operators from different countries.
Participants included ZSAMC, BHZXAMC, and Baichang Technology Group (China), VAMC and DATC (Vietnam), MAMCO (Mongolia), and ProZorro (Ukraine). Kazakhstan was represented at the seminar by JSC Fund of Problem Loans and the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market (the Agency).
From concept to practical implementation
The seminar summarized the interim results of the ADB research project to create a unified regional online platform for trading distressed assets. Ms. Inha Shin, Head of the Secretariat of the ADB International Public AMCs Forum (IPAF), opened the event by presenting the current status of the project and plans for its future development.
During the first session, participants discussed national cases of developing digital infrastructure for the NPL market. Presentations were made by representatives of KAMCO (Korea), ZSAMC and Baichang Technology Group (China), VAMC (Vietnam), and the Agency.
Following the main session, current IPAF members, including DATC (Vietnam), BHZXAMC (China), MAMCO (Mongolia), and the Fund of Problem Loans, briefly presented their current activities. Sagynysh Aitkhankyzy, Head of the International Cooperation and Analytics, presented on behalf of the Fund.
The FPL presented its own mechanisms for integrating repurchased assets into economic circulation and also discussed its ongoing work to identify alternative instruments and sales channels aimed at increasing the efficiency of disposing of distressed assets.
Unified Digital Platform: Key Launch Conditions
The second session of the seminar focused on the interim results of ADB’s research into the development of a cross-border digital platform for NPL trading in Asia.
With the active participation of KAMCO and ZSAMC, ADB developed the platform concept based on the Vietnam Asset Management Corporation (VAMC). Based on the analysis and virtual trading simulations, key conditions necessary for the successful launch of the platform were formulated, including:
- data standardization and disclosure, validation and anonymization issues;
- legal, regulatory, and currency and tax aspects;
- digitalization of transactions;
- technological and operational requirements for the platform infrastructure.
Employees of the Fund of Problem Loans actively participated in the discussion, answered questions from the organizers regarding the specifics of the Kazakh jurisdiction, and confirmed their interest in further participation in the project.
Project Roadmap
The second day of the workshop was devoted to discussing next steps in project implementation. ADB and KAMCO presented a draft roadmap for the development and launch of the cross-border platform, covering the period 2026–2027 and comprising four stages – from defining data requirements and developing the technical architecture to data uploading, testing, and preparation for full-scale launch.
The significance of the project for Kazakhstan
Kazakhstan’s participation in the ADB project offers a number of strategic advantages. Specifically, the country will be a founding member of the platform and will be involved in shaping its architecture, disclosure standards, and operating rules.
The project provides access to best international practices in regulating the secondary market for distressed assets, data standardization, due diligence procedures, asset valuation, and cybersecurity. This will allow for the adaptation of advanced solutions at the national level and accelerate the development of the domestic NPL market.
Furthermore, the participation of Kazakhstani organizations in the ADB initiative will contribute to increased confidence among foreign investors, the creation of a more transparent and predictable environment, and increased interest in the distressed assets of Kazakhstani banks and other creditors.
The project also creates a foundation for the development of national digital platforms and their integration with international infrastructure, ensuring the compatibility of Kazakhstan’s electronic trading systems with global solutions.
The material was prepared by Dina Abildayeva, Chief Specialist of the International Cooperation and Analytics Division of the Corporate Development and Coordination Department of “FPL” JSC.
