President Sadyr Japarov of Kyrgyzstan recently disclosed the value of his property, amounting to $20 mn, and encouraged fellow citizens to follow suit. Through a candid announcement on social media on February 15, President Japarov underscored the importance of the recently enacted anti-money laundering law and its implications for repatriating capital and promoting economic growth within the country.
Addressing the people of Kyrgyzstan, President Japarov emphasized the rationale behind the anti-money laundering legislation, aimed at dissuading wealthy citizens from hoarding capital abroad and incentivizing its repatriation for the benefit of the national economy. He reiterated the temporary nature of the law, set to expire on July 1st, and urged affluent individuals to capitalize on the opportunity for legalizing their assets before the deadline.
Under the provisions of the legalization law, President Japarov revealed that he paid 1 mn soms ($11,181) to the state for the formalization of his property, demonstrating adherence to legal requirements and commitment to contributing to the national economy.
He dispelled any speculation regarding overseas investments, affirming his intention to invest any foreign capital in domestic banks to stimulate economic growth and development.
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