The Board of Directors of “KazAgroFinance” JSC operates in accordance with the regulations of the Board of Directors, which displays the procedure for searching, selecting and electing members of the Board of Directors; the procedure for the investiture of the newly elected members of the BoD; the procedure for interaction between the BoD , the Sole Shareholder and the Management Board of the Company; rights, duties and responsibilities of the members of the Board of Directors; the organization of meetings of the BoD; the procedure for assessment of activity of the BoD; terms and conditions of payment of reimbursement for expenses and remuneration to the members of the BoD; the procedure for advanced training of the members of the BoD and involvement of external experts by them.
The activity of the Board of Directors is based on the principles of professionalism, reasonableness and judiciousness, honesty and fairness, as well as protection of rights of the Sole Shareholder.
In the furtherance of the effective performance of the functions of the Board of Directors the following Committees are attached to it:
- Internal Audit;
- Strategic Planning and Risk Management;
- Social Issues, Personnel and Remuneration.
At present, the total number of members of the Board of Directors is 5, including two Independent Directors, which ensures a balanced composition of the Board of Directors to meet the interests of the Sole Shareholder and allows bringing the composition of the Board of Directors' committees in line with the requirements of best corporate governance practices.
The meetings of the Board of Directors and committees are held on a regular basis. In 2019, the Company's Board of Directors held 14 meetings, including 11 in person and 3 in absentia, where decisions on key areas of the Company's activities were considered and adopted.
In 2019, the advanced training was conducted for members of the Board of Directors.