Name of Institution

Recovered Asset Management Company (RAMCO)

Country

Republic of Kazakhstan (KAZ)

Institution at a Glance:

Established on October 9, 2023 by Decree of the Government of the Republic of Kazakhstan No. 824 dated September 21, 2023, Recovered Asset Management Company (RAMCO) is a state-owned asset management office^[1] in Kazakhstan.

The primary duty of RAMCO is to ensure that the assets recovered from illegal acquisition are disposed of, managed, and sold in accordance with the procedures set forth by the Law of the Republic of Kazakhstan on "Return of Illegally Acquired Assets to the State" and other relevant laws.

Vision

Becoming a national center of competence in the field of managing assets returned to the state.

Mission

Promoting the development of the national economy and social sphere of the Republic of Kazakhstan through:
  – ensuring effective management and sale of recovered assets;
  – transfer of funds from the sale of recovered assets to the Special State Fund.

Main Activities
Taking Ownership on Behalf of the Government
 - Establishing the presence and condition of an asset
 - Study of title and identification documents
 - Registration of ownership of an asset
 - Recognition of assets (on the balance sheet)
 - Valuation of assets by an independent appraisal company

Asset Management
 - Maintenance and storage of property
 - Lease
 - Transfer to trust management
 - Monitoring of financial and economic activities of companies
 - Conservation

Asset Sale
 - Bidding (auction or tender)
 - Competitive bidding
 - Sale of social, strategic assets and assets with other specific characteristics to a limited number of potential buyers
 - Transfer to state ownership
 - Other sale methods complying with the laws of the countries where the assets are located (on assets located abroad)

Shareholder
RAMCO is 100% owned by Ministry of Finance, Kazakhstan

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^{[1] Asset management office (AMO) is a term for a state-owned entity established to manage and sell seized and/or confiscated assets obtained illegally in order to provide the compensation for the losses of the government, citizens or crime victims.}

Member Since: 2024

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Key Officers

Ms. Inkar Tyurekhojayeva, General Director
Mr. Alen Abdaliyev, Deputy General Director
Mr. Yerken Aitbayev, Deputy General Director
Mr. Medet Bitabarov, Department Director                      

 

Contact Us
Recovered Asset Management Company (RAMCO)
Astana city, Yermekov St., 1/1
Republic of Kazakhstan
Telephone: +77172695513
Website: www.kuva.kz (currently unavailable)