Principles of corporate governance

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Principles of corporate governance

According to the Corporate Governance Code of Industrial Development Fund JSC, corporate governance in the Company is based on the following principles:

- 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 company by the board of directors and the management board;
- The principle of sustainable development;
- The principle of risk management, internal control;
- The principle of regulating corporate conflicts and conflicts of interest;
- Principles of transparency and objectivity of disclosure of information about the company's activities.

The corporate governance of the Industrial Development Fund JSC is based on the principles of fairness, honesty, responsibility, transparency, professionalism and competence. An effective corporate governance structure implies respect for the rights and interests of all persons interested in the company's activities and contributes to the successful operation of the company. Corporate governance should not be applied in order to create unjustified advantages and distort competition in the market where the company operates.

The corporate governance system in Industrial Development Fund JSC provides:

- The presence of a clear management system in the company, delimited powers and decision-making process, the absence of duplication of functions and processes;

- Common standards, policies and processes, including the definition of common approaches to planning, monitoring and control, performance assessment and the application of corrective actions;
- Access to high-quality information regarding the company's activities;
- Proper risk management of the company.

The corporate governance system and the decision-making process in Industrial Development Fund JSC are regulated in the charter of the joint-stock company" Industrial Development Fund " and other internal acts of the company.

Following the generally accepted principles of corporate governance, three members of the Board of Directors of Industrial Development Fund JSC are independent directors elected by the sole shareholder - Development Bank of Kazakhstan JSC.

To date, the following standing committees have been established under the Board of Directors of the Industrial Development Fund JSC: the Risk Committee, the Audit Committee, the Personnel, Remuneration and Social Affairs Committee and the Strategic Planning and Corporate Development Committee. The purpose of their activity is an in-depth study of certain areas of the company's activities and advising the Board of Directors of Industrial Development Fund JSC on these issues.

The Corporate Secretary functions for the full performance of its functions by the Board of Directors of the Industrial Development Fund JSC, ensuring compliance by the company's structural divisions with procedural requirements that guarantee the realization of the rights and interests of shareholders.

Contacts of the Corporate Secretary - Botabaeva Aliya +7 (7172) 79 63 52.

The company has built an effective system of external and internal control, implemented by the Internal Audit Service of Industrial Development Fund JSC, regular audits by independent audit companies of the company's financial statements for compliance with international financial reporting Standards (IFRS).

In order to ensure maximum transparency and validity of management decisions, Industrial Development Fund JSC adheres to the policy of improving the availability and quality of information about the company's activities, which is reflected on the company's Internet resource, domestic and foreign mass media.

Министерство промышленности и строительства Республики Казахстан