BAKU, Azerbaijan, Jan. 21
President of the Republic of Kazakhstan Kassym-Jomart Tokayev ordered the creation of a secondary market for the purchase and sale of distressed assets, Trend reports with reference to the press office of the president.
“The government will have to audit all deposits,” President Tokayev said during a meeting with businessmen. “If a deposit is taken for future use, it should be handed over to someone who is ready to work there.”
The President stressed the need to involve distressed assets in the economic turnover.
“In general, as for non-performing assets, their involvement in the economic turnover, the issue of distressed assets must be thoroughly considered,” President Tokayev said. “I think it possible to expand the number of entities legally authorized to purchase such frozen assets from the banks.”
“The Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market and Financial Organizations, together with the government, must create a digital platform, infrastructure, form a secondary market for the purchase and sale of distressed assets, create incentives, including tax incentives, for their acquisition,” the President added.