The New Head of the “Development Bank of Kazakhstan” JSC Has Been Elected

Based on the Decision of the Sole Shareholder represented by “Baiterek” National Managing Holding” JSC, Sarkulov Abai Serikovich has been elected as the Chairman of the Board and a Member of the Board of Directors at the Development Bank of Kazakhstan JSC (DBK JSC) since April 29 of this year.

Abai Sarkulov graduated from Zhubanov Aktobe State University with a degree in Banking.

Abai Serikovich started his professional career in the banking sector in 2003 from the position of currency operations manager; during the period from 2006 to 2007, he was holding the position of Acting Deputy Director in the Branch Office of Alma-Ata International Bank JSC.

In 2007, he was appointed to the position of the Manager of the Infrastructure Projects Lending Department at DBK JSC. During the subsequent years, he was holding the positions of general manager, head of department, deputy head of the Project Directorate, and then the head of the Project Directorate at DBK JSC.

Since June 15, 2015 he was the Managing Director, Member of the Board at DBK JSC.

Since April 15, 2016, he was holding the position of the Deputy Chairman of the Board at DBK JSC.

Since February 2017, Abai Sarkulov was the Chairman of the Board at Damu Entrepreneurship Development Fund JSC

It should be recalled that Zhamishev Bolat Bidakhmetovich’s authorities as the Chairman of the Board and Member of the Board of Directors at DBK JSC have been early terminated based on the Decision of the Board of “Baiterek” NMH” JSC.

Reference:

“Baiterek” National Managing Holding” JSC was established in accordance with the Decree of the President of the Republic of Kazakhstan dated May 22, 2013. The key institution of the Government of the Republic of Kazakhstan that complies with the advanced standards of corporate governance and ensures the implementation of the objectives for the sustainable development of the economy of Kazakhstan through its diversification, support for innovation, export development, increase in labor productivity. The Holding includes: Development Bank of Kazakhstan JSC, Investment Fund of Kazakhstan JSC, Zhilstroisberbank of Kazakhstan (HCSBK) JSC, Kazakhstan Mortgage Company MO JSC, KazakhExport EIC JSC, Damu EDF JSC, QazTech Ventures JSC, Housing Construction Guarantee Fund JSC, Kazyna Capital Management JSC, Baiterek Development JSC, Kazakhstan Project Preparation Fund LLP.

Development Bank of Kazakhstan JSC was established by the Decree of the President of the Republic of Kazakhstan, Nursultan Nazarbayev, dated December 28, 2000. The Bank aims to promote the sustainable development of the national economy by investing in the non-resource sector of the country.