Assets worth over 800 billion tenge have been successfully repatriated to Kazakhstan since the beginning of 2022, LS reports citing the Financial Monitoring Agency of Kazakhstan.
According to the Agency, in the first nine months of this year, illegally exported assets worth 217 billion tenge were redirected back to the country. In 2022, this figure amounted to 600 billion tenge.
In addition, during the XIII meeting of the Anti-Corruption Network of law enforcement agencies of the OECD, it was disclosed that Kazakhstan's justice authorities have managed to repatriate approximately $2 billion over the past two years.
Kazakhstan is actively engaged in this endeavor, recognizing the significant scale of the challenge. According to estimates from the Tax Justice Network, approximately $140-160 billion has been moved from Kazakhstan to foreign offshore jurisdictions over the past 25 years. To put this in perspective, Kazakhstan's annual budget for 2023 is $36 billion.
In response to this issue, a commission dedicated to the repatriation of funds from foreign jurisdictions, under the guidance of the Kazakhstan Prosecutor General's Office, was established last year.
According to the official exchange rate of the National Bank of Kazakhstan, $1 is equal to 477 Kazakh tenge
CentralasianLIGHT.org
October 16, 2023