Activity of board of directors

Board of Directors of KazAgroFinance JSC is carrying out its activity in accordance with the Regulation on the Board of Directors stating the procedure for search, choice and election of the members of the Board of Directors; procedure for installment of the newly elected members of the Board of Directors in the office; procedure for interaction between the Board of Directors, the Sole Shareholder and the Board of the Company; rights, duties and responsibilities of the members of the Board of Directors; procedure for arrangement of the meetings of the Board of Directors; procedure for assessment of the Board of Directors’ activity; procedure for payment of reimbursement of expenses and remuneration to the members of the Board of Directors; procedure for advanced training of the members of the Board of Directors and involvement of external experts by them. 


The activity of the Board of Directors is based on the principles of professionalism, rationality and discretion, honesty and objectivity, as well as protection of rights of the Sole Shareholder. 


For facilitation of the effective functioning of the Board of Directors there are the following Committees: 
             - for Internal Audit, 
             - for Strategic Planning and Risks; 
             - for Social Issues, HR and Remuneration. 


To date, the total number of the members of the Board of Directors is 6, at that the share of the Independent Directors is 50%, which ensures the balance of the Board of Directors for complying with the interests of the Sole Shareholder and allows brining the membership of the Committees of the Board of Directors into compliance with the corporate management best practice.


The meetings of the Board of Directors and the Committees are held regularly. In 2017, the Board of Directors held 16 meetings, where 14 meetings in presentia and 2 meetings in absentia, at which the key trends of the Company’s activity were addressed and the decisions were made. 


The trainings for the members of the Board of Directors were not conducted in 2017.