Corporate Governance

• Corporate Governance at the Bank
• The Bank's corporate governance structure

Effective corporate governance is a prerequisite for the Bank’s success on a free and competitive market. The Bank seeks to maintain an effective corporate governance system that regulates interaction among the Board of Directors, the Management Board and shareholders. This system fosters the growth of the company's value and ensures that investors’ money is being used efficiently. Upon the Bank’s placement of shares in the form of GDR on the international market in 2006, we put a special focus on the corporate governance. finance: it was also an indication of the Bank’s commitment to pursuing the standards expected of a modern financial institution of international standing

The Board of Directors of the Bank is a collegial management body performing general management of its activity, except for the issues referred by the applicable laws of the Republic of Kazakhstan and the Bank's Charter to the exclusive competence of the general shareholders’ meeting. The main objectives of the Board of Directors include control of the Company's effective management in order to ensure sustainable long-term development of the Company, increasing its value, protecting the rights and legitimate interests of shareholders

In order to ensure the independence and objectivity of the internal auditing, the Internal Audit Department is functionally subordinated and accountable to the Board of Directors. Interaction with the Board of Directors is through the Audit Committee or direct. The Department consists of 48 staff positions and holds audits of the Bank's divisions, business processes, information systems and subsidiaries