Corporate governance system
Fundamental values of corporate governance
Our corporate governance is based on a number of principles, including fairness, honesty, responsibility, transparency, expertise and professional competence.
An effective corporate governance structure implies respect for the rights and interests of all parts of our Company while, at the same time, contributing to our performance, asset growth and maintenance of our financial stability and profitability in general.
Running our Company requires a high level of professionalism on the part of directors and management, along with an effective system of corporate governance and oversight. Currently, our corporate governance structure ensures a good level of interaction between our management bodies and delineates responsibilities based on the following core principles:
- protection of Shareholders’ rights and interests
- effective management of the Company by the Board of Directors and the executive body
- the Company’s independence
- transparency and objective disclosure of information about the Company’s activities
- legality and ethics
- an effective dividend policy
- effective personnel policies
- environmental protection
- policies for resolving corporate conflicts and conflicts of interest
- corporate responsibility
In an unceasing effort to adhere to high standards of corporate governance, we are constantly improving and developing our corporate governance system to ensure sustainable long-term growth in our value.
|Progress in 2017||Plans for 2018|
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Corporate governance assessment
We introduced the practice of assessing our corporate governance system in 2008. Until 2011, annual assessments were carried out with the help of S&P, which placed our Company among the top businesses in Kazakhstan in terms of corporate governance.
From 2013 to 2015, our corporate governance system was reviewed to check its compliance with international practices on the basis of a methodology developed by the Samruk-Kazyna Sovereign Wealth Fund for all of the group companies. According to the assessments that were carried out, we were assigned the highest ratings among all fund companies. No assessments were carried out in 2016-2017 due to a review of the fund’s methodology for its compliance with the new Corporate Governance Code approved by the Government of Kazakhstan.