Principles of Corporate Governance

Development Bank of Kazakhstan strives to improve continuously the corporate governance system by conducting an appropriate assessment and implementing the best international practices in this area. With the resolution of the Sole Shareholder dated December 20, 2017 (Minutes No. 52/17) the Corporate Governance Code of Development Bank has been approved, which has been developed in accordance with the corporate governance standards of the Holding, the Organization for Economic Cooperation and Development and reflects the principles of corporate governance, following which contributes to the achievement of the Bank’s strategic goals.

The fundamental principles of the Corporate Governance Code are:

• the principle of separation of powers;
• the principle of protecting the rights and interests of the Sole Shareholder;
• the principle of effective management of the Bank by the Board of Directors and the Management Board of the Bank;
• the principle of sustainable development;
• the principle of risk management, internal control and internal audit;
• the principle of regulating corporate conflicts and conflicts of interest;
• the principles of transparency and objectivity of disclosure of information about the Bank’s activities.

On October 3, 2023, the Management Board of the Bank made additions to the Regulation on Committees of Development Bank of Kazakhstan Joint Stock Company, approved by the decision of the Management Board of Development Bank of Kazakhstan JSC dated October 31, 2019. The functionality of the Change Management Committee (hereinafter - CMC) in the field of sustainable development was expanded. The CMC will approve proposals, recommendations in the field of sustainable development, including environmental, social and corporate governance (ESG) and review the progress of measures to implement ESG principles.