Chairman of the Board of Development Bank of Kazakhstan CJSC is vice-minister of finance Dunaev

20.03.02, 00:00
/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 Dosaev. 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 Astana (25%). 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.