Chairman of the Board of Development Bank of Kazakhstan CJSC is vice-minister of finance Dunaev
/IRBIS, March 20, 02/ - Kazakhstan today informs that by the decision of the
shareholders, the chairman of the Board of directors of Development Bank of
Kazakhstan CJSC is Arman Dunaev, the vice-minister of finance, who
replaces the chairman of the Agency for Regulation of the Natural
Monopolies, Competition Protection and Small Business Support, Erbolat
The law "On Development Bank of Kazakhstan" defines the number of the
Board of directors members at 7 people, and 3 of them are assigned by the
recommendation of the president and 4 by the recommendation of the
government of the country.
The Board of the bank also consists of the first vice-minister of the economy
and trade, Aleksandr Andriyushenko, chairman of the Strategic Planning
Agency, Iskander Beisembetov, president of Development Bank of
Kazakhstan CJSC, Sauat Mynbaev, akim of Almaty, Viktor Khrapunov, akim
of Atyrau region, Serikbek Daukeev.
The Development Bank of Kazakhstan CJSC was established on May 31,
2001 by the decree of the president of Kazakhstan and it is a major domestic
financial institution that provides mid- and long-term financing of investment
projects in high priority sectors of the economy.
The bank's authorized capital is said to equal KZT30bn, with the
shareholders are the government of Kazakhstan (75% of announced
authorized capital) and local executive bodies of all regions and Almaty and
In addition, as of February 1, 2002 more than 90% of the authorized capital
is said to have been paid (KZT27bn) and first issue five-year indexed coupon
bonds of the bank totaling KZT4.5bn were entered into official list of the
Exchange under category "A" on February 19, 2002.