Pursuant to the Decree of the President of the Republic of Kazakhstan dated April 22, 2009 ¹ 793 “About additional measures on strengthening of struggle against criminality and corruption and the further perfection of law-enforcement activity in the Republic of Kazakhstan”, “KazAgroFinance” JSC takes measures on a regular basis to combat corruption in the Company’s activities, aimed at detection and suppression of acts of unfair attitude of employees to their official duties, namely, preventing manifestations of the elements of corruption.
In order to reduce risks and protect the interests of the Company, the Company’s borrowers are tested for the presence of negative information on their activities, solvency and legality of constituent and financial documents, directors and founders of companies that have applied for financing projects for criminal records. A similar test is conducted with respect to machinery and equipment suppliers of the Company.
The Company conducts an analysis of design estimates of borrowers for investment projects, identifies problem borrowers and lessees, monitors compliance with the terms of financing – targeted use of funds, timely commissioning of facilities, provision of liquid collateral.
On June 11, 2010 the management of “KazAgroFinance” JSC took part in the extended session “On work status in the Ministry of Agriculture of the Republic of Kazakhstan and its territorial authorities on anti-corruption”.
To the present moment corruption in the Company has not been detected.
In order to maximally satisfy the needs of domestic agricultural producers with regard to both qualitative and cost characteristics of acquired leasing objects, the Company established a commission for the purchase of leasing objects from one source (hereinafter - the “Commission”).
One of the main tasks of the Commission is to consider pricing issues of leasing objects to be purchased.
The Commission also includes representatives of parties, public associations, unions, governmental and nongovernmental organizations, such as:
- People’s Democratic Party “Nur Otan”;
- “Atameken” Union” National Economic Chamber of Kazakhstan;
- Association of legal entities and individual entrepreneurs “National Agro-industrial Chamber of Kazakhstan”.
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