Kazakhstanis won’t know who illegally withdrew money from the country

After two readings in the parliament, Kazakhstani MPs have adopted a new law on returning assets illegally withdrawn from the country.

The key goal of the law is to settle a range of issues associated with disclosure of illegally obtained and withdrawn assets. The document will also regulate a range of issues associated with reclaiming the money by the government and its management.

The interesting point of the law is that it prohibits publishing a list of the rich Kazakhstanis who illegally withdrew assets from the country. The law requires Prosecutor General’s Office to establish a special task force responsible for reclaiming money illegally withdrawn from the country. This board is going to be the only agency that will know the names of people under investigation.

When journalists asked Speaker of Mazhilis Yerlan Koshanov why the parliament doesn’t want to release the names of all those people who withdrew money from Kazakhstan over the 30-year period, he answered that it doesn’t really matter. The main goal is to reclaim the money, he said.

«We have to reclaim a lot of money, more than $100 million, which was withdrawn by kleptocrats. We are going to put these people on a special list. Secondly, everyone who is ready to give this money back will be free of prosecution. Reclaiming the money isn’t an easy task. This process may last for years, especially when it comes to international courts. This is why we have adopted the new law. We need this legislation to take our money back,» Koshanov said.

He also noted that the special task force will consist of public figures, MPs and ministers.

In addition, the country’s government is going to create a special public fund that must keep all reclaimed money.