The Fund views corporate governance as a means to improve operational efficiency, ensure transparency and accountability, strengthen reputation and reduce the cost of raising capital. The Fund considers an appropriate corporate governance system as its contribution to ensuring the supremacy of legislation in the Republic of Kazakhstan and a factor determining the Fund’s place in the modern economy and society as a whole. The corporate governance system provides for a clear division of powers and responsibilities between the bodies, officials and employees of the Fund.

The fundamental principles of corporate governance are:

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 Fund by the Board of Directors and the Management Board;
the principle of sustainable development;
the principle of risk management, internal control and internal audit;
the principle of regulating corporate conflicts and conflicts of interest;
principles of transparency and objectivity in disclosing information about the activities of the Fund.

As part of its activities, the Damu Fund pays special attention to compliance with the principles and provisions of the Corporate Governance Code, which meets the requirements of the legislation of the Republic of Kazakhstan and relevant international standards. A report on compliance/non-compliance with the principles and provisions of the Fund’s Corporate Governance Code is submitted annually for consideration by the Fund’s Board of Directors and posted on the Fund’s corporate website.

In accordance with the requirements of the Corporate Governance Code, the Fund is required to conduct an independent assessment of corporate governance at least once every three years. Based on the results of the study carried out in December 2021. independent diagnostics of corporate governance, compliance of the level of corporate governance with the requirements of best practice is 90.8%.

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Anti fraud and corruption

Data security and the reliability of online systems play a crucial role in evaluating performance this project. In this regard, the Foundation strives to ensure a high level of information protection and the availability of online services for partners. The Foundation adheres to and is guided by the Policy information security. The policy defines the basic principles, directions and requirements according to information protection, it is the basis for ensuring the information security regime, It serves as a guide in the development of relevant regulations, rules, and instructions.

In addition, information disclosure issues are regulated by the Information Disclosure Regulation, which defines the rules and approaches to disclosure of information; a list of publicly available documents, information (materials) to be disclosed; list of documents, information (materials) to be disclosed to the Sole Shareholder; methods and terms of disclosure information (materials), etc.

At the same time, in order to comply with the principle of transparency and objectivity of information disclosure about the Fund's activities, extended information is posted on the corporate website on an ongoing basis analytical and review reports-presentations and lists of participants as financial programs and instruments (subsidizing, guaranteeing, financing through STB as part of the development government funds and other programs of the Damu Foundation), as well as non-financial support measures entrepreneurship implemented by the Damu Foundation. In addition to reports and presentations, the Foundation's corporate website publishes documents, materials and information that are subject to disclosure (placement) in public sources.

Regulations on confidential information of Damu Entrepreneurship Development Fund JSC

Information Security Policy of Damu Entrepreneurship Development Fund JSC

Regulations on disclosure of information of Damu Entrepreneurship Development Fund JSC

Rules of internal control of access to insider information of the joint-stock company "Entrepreneurship Development Fund "Damu"

Corporate governance

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