Corporate Governance

Corporate Governance at JSC “Halyk Bank”

Corporate Governance at the Bank

Effective corporate governance is a prerequisite for the Bank’s success on a free and competitive market. The Bank seeks to maintain an effective corporate governance system that regulates interaction among the Board of Directors, the Management Board and shareholders. This system fosters the growth of the company's value and ensures that investors’ money is being used efficiently. Upon the Bank’s placement of shares in the form of GDR on the international market in 2006, we put a special focus on the corporate governance. finance: it was also an indication of the Bank’s commitment to pursuing the standards expected of a modern financial institution of international standing

Board of Directors

The Board of Directors of the Bank is a collegial management body performing general management of its activity, except for the issues referred by the applicable laws of the Republic of Kazakhstan and the Bank's Charter to the exclusive competence of the general shareholders’ meeting. The main objectives of the Board of Directors include control of the Company's effective management in order to ensure sustainable long-term development of the Company, increasing its value, protecting the rights and legitimate interests of shareholders

Internal Audit Service

To perform the functions of the third line of defense, the Bank has established the Internal Audit Department (IAD). In order to ensure the independence and objectivity of internal audit, the IAD is functionally subordinates and reports to the Board of Directors. The IAD interacts with the BoD members both through the Audit Committee and directly.