Otbasы Bank Recognized as a Gender Champion

Otbasы Bank Recognized as a Gender Champion

30 November 2023

Press release

Otbasы Bank, a subsidiary of the 'Baiterek' holding, has become the sole Otbasы Bank, a subsidiary of the 'Baiterek' holding, is the only entity from Kazakhstan to have received the CAREC (Central Asian Regional Economic Cooperation) Award for its active promotion of gender equality in the country.

The CAREC Award was bestowed upon the bank for its effective implementation of the 'Umai' women's housing program. Over the past three years, this initiative has helped more than 3,500 women in Kazakhstan celebrate their housewarming, not just in major megacities but also in regional centers and smaller towns.

"Gender equality is one of the most important human rights, playing a key role in ensuring peace and harmony in society. Its foundation is economic equality. Therefore, Otbasы Bank is committed to increasing the number of women who own their homes," shared Lyazzat Ibragimova, Chairperson of the Board of Otbasы Bank.

Throughout her career, Lyazzat Ibragimova has been actively promoting gender equality in Kazakhstan. Under her leadership, the 'Damu' fund initiated the first credit line in Central Asia to support women entrepreneurs, financed by the European Bank for Reconstruction and Development (EBRD). In 2016, EBRD head Suma Chakrabarti awarded Lyazzat Ibragimova for her efforts in advancing gender equality.

The 'Umai' program, implemented by Otbasы Bank in collaboration with the Asian Development Bank, has helped women from various sectors and different economic backgrounds acquire their own homes.

"Commitment to ESG principles is a strategic choice for Otbasы Bank to ensure further sustainable development for the benefit of society and the environment. Therefore, the bank will actively support positions on 'green financing', gender equality, and youth support," added Alena Finogenova, Director of Planning and Strategic Analysis at Otbasы Bank.

For Reference: CAREC is a partnership of 11 countries (Afghanistan, Mongolia, Azerbaijan, Pakistan, China, Tajikistan, Kazakhstan, Turkmenistan, Kyrgyzstan, Uzbekistan) and development partners (Asian Development Bank, European Bank for Reconstruction and Development, International Monetary Fund, Islamic Development Bank, United Nations Development Programme, World Bank, and Asian Infrastructure Investment Bank), working together to promote development through cooperation leading to accelerated economic growth and poverty reduction.

The CAREC Award highlights leaders who have made significant contributions to the development of modern society.


JSC 'Housing Construction Savings Bank 'Otbasы Bank'' is the only bank in the country implementing a system of housing construction savings. The bank is a member of the European Federation of Building Societies (EFBS) and the International Union for Housing Finance. The sole shareholder of JSC 'Otbasы Bank' is JSC 'National Management Holding 'Baiterek'.



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