During the online meeting, the Asset Recovery and Management Agency (ARMA) was represented by the Deputy Head of ARMA for European Integration Grigol Katamadze together with the Head of the Asset Management Efficiency and the Head Communications Unit. The State Agency for Management of Recovered Assets of the Republic of Kazakhstan was represented by Deputy Director General Anuar Kankishev, together with the heads of the Asset Recovery and International Cooperation Departments.
As a continuation of the cooperation, online working meeting became a consultation on the issues of legislative norms and practices of managing seized property.
The State Agency for the Management of Recovered Assets of the Republic of Kazakhstan was established relatively recently, so colleagues from Kazakhstan were interested in learning about the specifics of the work of the Ukrainian ARMA and the agency's experience in asset management both inside and outside the country.
In particular, the representatives of the National Agency told their Kazakh colleagues about the management of assets transferred by Ukrainian court decisions for sale or management outside the country. Such assets may include private real estate, airplanes, yachts, cars, bank accounts, etc. ARMA representatives noted that in order to manage such assets abroad, the National Agency must obtain legalization of the Ukrainian court decision in the court of the country where the asset is actually located.
Separately, Grigol Katamadze spoke about the management of seized funds: “We have now developed and are using a mechanism for managing seized funds that allows us to preserve these funds and increase them. Moreover, due to the difference in the interest rate when purchasing military bonds, we ensure direct revenues from such management to the state budget. This year, we have already reached the mark of almost 10 billion UAH in ARMA's deposit portfolio, of which almost UAH 6 billion was purchased in government bonds.”
The meeting was held within the framework of interagency cooperation, which was enshrined in an earlier interagency agreement signed by the Head of ARMA
Olena Duma and the General Director of the State Agency for Management of Recovered Assets of the Republic of Kazakhstan Kuanyshbek Mukash.
