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Amendments and addenda to the “Kazakhstan Deposit Insurance Fund” JSC Corporate Charter

Following the Resolution by the Sole Shareholder of “Kazakhstan Deposit Insurance Fund” JSC (the KDIF) No. 199 dated 26 May, 2015, amendments and addenda were made to the KDIF Corporate Charter with a view to revise and ensure compliance with the legislation of the Republic of Kazakhstan governing the issues related to joint stock companies operations, compulsory deposit insurance, and practices applied in the KDIF in a business-as-usual order. Particularly, the amendments ensure incorporation of certain provisions of Law of the Republic of Kazakhstan “On  Joint Stock Companies” into the KDIF’s Charter, particularly in part of membership structure of the Board of Directors, 30% of directors being Independent Directors.

Apart of this, the amendments and addenda refine the order of accumulation of the KDIF special reserve for payouts, establish the Internal Audit Office, certain issues being assigned to the exclusive competence of the Board of Directors, particularly mandate to determine size of the office, terms of office for the staff, appointment of its management and staff, to appoint the risk manager and the corporate secretary, as well as to establish the order of operations of the internal audit office.

The Sole Shareholder of the KDIF is Republican State Enterprise National Bank of the Republic of Kazakhstan (address: Almaty, 21, Koktem-3 microdistrict, 050040, Almaty, Republic of Kazakhstan, phone + 7 (727) 270 47 03, e-mail: hq@nationalbank.kz, www.nationalbank.kz).

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