Corporate Governance Structure
In accordance with the laws of the Republic of Kazakhstan, the Bank’s organizational structure includes the following governing bodies:
The Sole Shareholder;
The Board of Directors. Four committees operate under the Board of Directors: Audit Committee (oversees the establishment of an effective system for monitoring the Bank’s financial and business activities, including the accuracy and completeness of financial reporting, compliance with the legislation of the Republic of Kazakhstan and internal regulations, and provides recommendations to the Board of Directors regarding the strategic directions (development) of the Bank and the operation of an adequate risk management system); Strategic Planning and Corporate Development Committee (addresses issues related to defining the Bank’s strategic priorities, long-term development strategy, corporate development, and implements initiatives aimed at enhancing the Bank’s efficiency, profitability, and sustainable development in the medium and long term; Risk Management Committee ( provides recommendations to the Board of Directors on monitoring the reliability and efficiency of the internal control and risk management systems, maintaining the independence of the Compliance Service, ensuring compliance with legislation and internal policies, and enhancing and strengthening the Bank’s risk management system; and Human Resources, Remuneration, and Social Affairs Committee (focuses on matters related to the Bank’s human resources policy, appointment and compensation systems, performance evaluation of the Board of Directors and the Management Board, succession planning for the Chair and members of the Management Board, and evaluation of the Corporate Secretary’s performance).
The Management Board. Eleven committees function under the Management Board: Strategy and Corporate Development Committee, Asset and Liability Management Committee, Committee on Banking Products, Processes, and Service Quality Credit Committee, Information Resources Committee, Budget Committee, Controlling Committee, Human Resources Committee, Information Security Committee, Commission for Determining the Value and Write-Off of Fixed Assets, Intangible Assets, and Obsolete Inventories, Risk Committee;
The Internal Audit Unit;
established in accordance with the laws of the Republic of Kazakhstan and the Bank’s internal documents to support specific areas of the Bank’s operations.
The relationship between the Board of Directors and the Management Board is a fundamental component of the Bank’s corporate governance system and is governed by the applicable laws of the Republic of Kazakhstan. The rights, responsibilities, and competencies of the Board of Directors and the Management Board are defined and regulated by internal and founding documents such as the Articles of Association, Corporate Governance Code, and relevant laws and regulations governing banking activities in the Republic of Kazakhstan.