CORPORATE GOVERNANCE
About Us
Joint Stock Company «Mortgage Organization «Kazakhstan Mortgage Company» was established in 2000 in accordance with the resolution of the Board of the National Bank of the Republic of Kazakhstan in order to implement the Concept of long-term financing of Housing construction and development of mortgage lending. The company became one of the first mortgage organizations in the post-Soviet space, whose activities are aimed at implementing the state housing policy.
In 2020, JSC «Mortgage Organization «Kazakhstan Mortgage Company» was reorganized by joining JSC «Baiterek Development» and JSC «Housing Construction Guarantee Fund». After the reorganization, the Company became a Single operator of housing construction and in January 2021 changed its name to JSC «Kazakhstan Housing Company». JSC Housing Construction Guarantee Fund was established in 2016 on the basis of the previously operating JSC «Kazakhstan Mortgage Guarantee Fund». The task of the fund was to create an effective mechanism to protect the rights and interests of shareholders by guaranteeing the completion of shared-equity construction. JSC «Baiterek Development» (until 2014 – JSC «Stress Assets Fund») performed the functions of a financial operator of the state program of housing and communal development «Nurly Zher» for 2020-2025 in the direction of financing the construction of credit housing through the purchase of government securities of local executive bodies, as well as monitoring the progress of construction of credit housing. Other areas of the Company’s activity were the implementation of investment projects in the construction industry and the completion of activities initiated as part of the anti-crisis measures of 2009-2010, and EXPO-2017 projects.
JSC «Kazakhstan Housing Company» has included in its activities the main areas of work of the combined companies, and is also developing a number of new areas in accordance with the adopted Development Strategy for 2024-2033. The created Unified Housing Construction Operator will ensure the further implementation of state measures aimed at increasing the provision of high-quality and comfortable housing for the population of the country, including by supporting the construction industry, creating conditions for a balanced growth of supply and demand in the housing market and mortgage lending.
About Us
Joint Stock Company «Mortgage Organization «Kazakhstan Mortgage Company» was established in 2000 in accordance with the resolution of the Board of the National Bank of the Republic of Kazakhstan in order to implement the Concept of long-term financing of Housing construction and development of mortgage lending. The company became one of the first mortgage organizations in the post-Soviet space, whose activities are aimed at implementing the state housing policy.
In 2020, JSC «Mortgage Organization «Kazakhstan Mortgage Company» was reorganized by joining JSC «Baiterek Development» and JSC «Housing Construction Guarantee Fund». After the reorganization, the Company became a Single operator of housing construction and in January 2021 changed its name to JSC «Kazakhstan Housing Company». JSC Housing Construction Guarantee Fund was established in 2016 on the basis of the previously operating JSC «Kazakhstan Mortgage Guarantee Fund». The task of the fund was to create an effective mechanism to protect the rights and interests of shareholders by guaranteeing the completion of shared-equity construction. JSC «Baiterek Development» (until 2014 – JSC «Stress Assets Fund») performed the functions of a financial operator of the state program of housing and communal development «Nurly Zher» for 2020-2025 in the direction of financing the construction of credit housing through the purchase of government securities of local executive bodies, as well as monitoring the progress of construction of credit housing. Other areas of the Company’s activity were the implementation of investment projects in the construction industry and the completion of activities initiated as part of the anti-crisis measures of 2009-2010, and EXPO-2017 projects.
JSC «Kazakhstan Housing Company» has included in its activities the main areas of work of the combined companies, and is also developing a number of new areas in accordance with the adopted Development Strategy for 2024-2033. The created Unified Housing Construction Operator will ensure the further implementation of state measures aimed at increasing the provision of high-quality and comfortable housing for the population of the country, including by supporting the construction industry, creating conditions for a balanced growth of supply and demand in the housing market and mortgage lending.
History of the Company’s development
2021
Name change to «Kazakhstan Housing Company» JSC
2020
Reorganization of the Company. Creation of a Single housing construction Operator. Joining of «Baiterek Development» JSC and «Housing Construction Guarantee Fund» JSC
2018
Launch of the mortgage product «Orda». Implementation of the Mortgage Loan Refinancing Program of the National Bank of the Republic of Kazakhstan
2016
Implementation of the Housing Construction Program «Nurly Zher» for 2020-2025 years
2014
Implementation of the Regional Development Program until 2020
2013
Transfer of the Company's shares to the management of «National Managing Holding «Baiterek» JSC
2012
Implementation of the state program «Affordable Housing»
2011 - 2014
Implementation of a special mortgage lending program for affordable housing in Almaty
2004 - 2007
Implementation of the State program for the development of housing construction of the Republic of Kazakhstan
2004
Creating a regional network
2002
Issue of the first mortgage bonds
2000
Establishment of the Company by the National Bank of the Republic of Kazakhstan
Development strategy
Mission: Providing the population of Kazakhstan with affordable and high-quality housing.
Vision: A key development institution to provide the people of Kazakhstan with affordable housing.
Strategic directions of JSC “Kazakhstan Housing Company” activities:
Direction 1. Support for housing supply
Goal: to increase the volume of housing construction by stimulating the private sector and servicing developers.
Tasks:
- financing of construction, purchase and renovation of housing through the purchase of LEB bonds;
- guaranteeing equity participation in housing construction;
- subsidizing loans from private developers;
- financing of urban development investment projects.
Direction 2. Support for housing demand
Goal: to increase housing affordability for citizens of Kazakhstan.
Tasks:
- provision of rental housing;
- subsidizing mortgage loans.
Sole shareholder
The sole shareholder of «Kazakhstan Housing Company» JSC is «National Managing Holding «Baiterek» JSC , which owns 100% of the voting shares of the company.
Baiterek Holding is an integrated development institution, which includes 8 subsidiaries: joint-stock companies with 100% participation of the Holding, such as Development Bank of Kazakhstan JSC, Housing Construction Savings Bank Otbasy Bank JSC, FRP “Damu” JSC , “Kazakhstan Housing Company” JSC , “ERP “Kazakh Export” JSC, “Qazaqstan Investment Corporation” JSC , JSC “Agrarian Credit Corporation” , JSC “Bereke Bank”.
By the Decree of the Government of the Republic of Kazakhstan dated March 30, 2021 No. 175, the rights of ownership and use of the state block of shares of the Baiterek Holding were transferred to the Ministry of National Economy of the Republic of Kazakhstan.
The mission of Baiterek NMH JSC is contribution to the sustainable economic development of the Republic of Kazakhstan to implement the public policy and achieve the goals set out by the Strategy – 2050.
Vision of Baiterek NMH JSC: A proactive management holding that is qualitatively transforming the structure of Kazakhstan’s economy by developing new sectoral “growth points”.
The official website of the Baiterek Holding: https://www.baiterek.gov.kz/
Sole shareholder
The sole shareholder of «Kazakhstan Housing Company» JSC is «National Managing Holding «Baiterek» JSC , which owns 100% of the voting shares of the company.
Baiterek Holding is an integrated development institution, which includes 8 subsidiaries: joint-stock companies with 100% participation of the Holding, such as Development Bank of Kazakhstan JSC, Housing Construction Savings Bank Otbasy Bank JSC, FRP “Damu” JSC , “Kazakhstan Housing Company” JSC , “ERP “Kazakh Export” JSC, “Qazaqstan Investment Corporation” JSC , JSC “Agrarian Credit Corporation” , JSC “Bereke Bank”.
By the Decree of the Government of the Republic of Kazakhstan dated March 30, 2021 No. 175, the rights of ownership and use of the state block of shares of the Baiterek Holding were transferred to the Ministry of National Economy of the Republic of Kazakhstan.
The mission of Baiterek NMH JSC is contribution to the sustainable economic development of the Republic of Kazakhstan to implement the public policy and achieve the goals set out by the Strategy – 2050.
Vision of Baiterek NMH JSC: A proactive management holding that is qualitatively transforming the structure of Kazakhstan’s economy by developing new sectoral “growth points”.
The official website of the Baiterek Holding: https://www.baiterek.gov.kz/
Board of Directors
RUSTAM KARAGOISHIN
Chairman of the Board of Directors, representative of the Sole Shareholder
SON VYACHESLAV
Member of the Board of Directors, representative of the Sole Shareholder
ALIYA MURZAGALIYEVA
Member of the Board of Directors, representative of the Sole Shareholder
KUAT KOZHAKHMETOV
Member of the Board of Directors, independent director
SERIK KANDYKBAYEV
Member of the Board of Directors, Independent Director
ALTAY KUZDIBAYEV
Member of the Board of Directors, Chairman of the Management Board of JSC "Kazakhstan Housing Company"
Committees under the Board of Directors
Strategic Planning and Corporate Development Committee
The Committee was created with the aim of preparing recommendations to the Board of Directors of “Kazakhstan Housing Company” JSC on the development of priority areas of activity (development), strategic goals (development strategy) of “Kazakhstan Housing Company” JSC, including issues on the development of measures to improve the efficiency of “Kazakhstan Housing Company ” JSC in the medium and long term.
The chairman of the committee: – Kozhakhmetov Kuat Bakirovich.
Committee members:
- Kandykbayev Serik Abildashevich;
- Murzagaliyeva Aliya Yerbolatkyzy.
Audit and Risk Management Committee
The Committee was created in order to improve the efficiency and quality of the Board of Directors’ work by preparing recommendations for the Board of Directors on establishing an effective control system over the financial and economic activities of Kazakhstan Housing Company JSC (including for the completeness and reliability of financial statements), for monitoring the reliability and the effectiveness of internal control and risk management systems, as well as the execution of documents in the field of corporate governance, control over the independence of external and internal audit.
Chairman of the Committee: – Kozhakhmetov Kuat Bakirovich.
Committee members:
- Kandykbayev Serik Abildashevich;
- Son Vyacheslav Vladimirovich.
Human Resources, Remuneration and Social Affairs Committee
The Committee was created in order to improve the efficiency and quality of the Board of Directors’ work through in-depth study and monitoring of issues related to the competence of the Board of Directors in the field of personnel policy, the system of appointments and remuneration, improvement and efficiency of the social policy of Kazakhstan Housing Company JSC, as well as performance assessment in in general, and members of the Board of Directors of the Company, members of the Management Board of Kazakhstan Housing Company JSC, as well as the Corporate Secretary and foreign specialists employed by Kazakhstan Housing Company JSC, in particular.
The chairman of the committee: – Kandykbayev Serik Abildashevich;
Committee members:
- Kozhakhmetov Kuat Bakirovich;
- Son Vyacheslav Vladimirovich.
Governing body
ALTAY KUZDIBAYEV
Chairman of the Management Board
OLZHAS ZHOLDASBAYEV
First Deputy Chairman of the Management Board
KAIRBEKOV ISLAMBEK
Deputy Chairman of the Management Board
OLZHAS SALYKOV
Deputy Chairman of the Management Board
ZHAUYMBAYEV KANAT SAGYNDYKULY
Deputy Chairman of the Board
Organizational structure
Sustainable development
Kazakhstan Housing Company JSC is focused on balanced sustainable development and creating value for a wide range of stakeholders in the long term.
Kazakhstan Housing Company JSC strives to effectively manage the impact of its activities on the environment, economy, and society and makes decisions taking into account the interests of stakeholders.
Within the framework of its activities, the Company is guided by the principles of sustainable development enshrined in the Corporate Governance Code: openness, accountability, transparency, ethical behavior, respect for the interests of stakeholders, legality, respect for human rights, intolerance to corruption, inadmissibility of conflicts of interest.
In solving problems in the field of sustainable development, Kazakhstan Housing Company JSC relies on its mission, the provisions of the Company’s Development Strategy, and also uses international norms of behavior and principles enshrined in international standards in the field of sustainable development.
Kazakhstan Housing Company JSC considers the use of international standards in the field of sustainable development as a necessary condition for ensuring compliance of its activities with the best international practices and achieving goals and objectives in the field of sustainable development.
Kazakhstan Housing Company JSC has approved a Sustainable Development Policy. Its provisions are subject to compliance by all employees of the Company in terms of interaction with stakeholders, when planning and carrying out their activities, developing internal documents, distributing information and other types of communication.
The policy of sustainable development of the joint-stock company “Kazakhstan Housing Company.
You can find out more about the activities in the field of sustainable development in the Company’s Annual Report.
Kazakhstan Housing Company JSC, within the framework of its activities, also strives to contribute to the achievement of the SDGs.
The Company has integrated the SDGs into the Company’s Development Strategy, directing efforts to implement significant environmental, social and economic initiatives.
Detailed information about the contribution to the achievement of the SDGs can be found in the Company’s Annual Report.
The problem of climate change is acute for the world community today. Over the past decades, there has been a serious change in climatic conditions, which has negative consequences for the environment, flora and fauna, as well as for human health and the economy.
One of the key causes of climate change is an increase in the concentration of greenhouse gases in the atmosphere. Industrial processes, transport, agriculture and other human activities contribute to the release of these gases, which lead to an increase in the greenhouse effect, and as a result, to climate change.
The company is aware of the importance of the problem of climate change, and therefore in 2023 for the first time conducted a quantitative assessment of greenhouse gas emissions.
The assessment of greenhouse gas emissions is carried out from the activities of the Company, which has offices in Astana and Almaty.
The calculation of direct and indirect energy emissions of greenhouse gases was carried out in accordance with the international GHG Protocol standard “A Corporate Accounting and Reporting Standard”. The boundaries of greenhouse gas emissions were defined – Scope 1 (direct emissions), Scope 2 (indirect energy emissions) and Scope 3 (other indirect emissions). There are no activities related to the absorption of greenhouse gases within the boundaries of the analysis.
The sustainable development of Kazakhstan Housing Company JSC is inextricably linked to effective interaction with stakeholders. Open dialogue and collaboration with partners, customers, employees, local communities, government authorities and other stakeholders are key factors for achieving our Sustainable Development Goals.
Key tools are used for interaction, such as corporate reporting, the Company’s official website, visits to forums, exhibitions, meetings and other events, as well as publications in the media and on the Company’s official pages on social networks.
The Company has approved a Stakeholder Map, that provides a systematic approach to interacting with stakeholders.
As part of the preparation of the Annual Report, the Company conducted a survey of external and internal stakeholders in 2024 to identify significant aspects of the Company’s activities in the field of sustainable development.
In order to determine the level of implementation of the principles of sustainable development in the activities of developers in guaranteeing and subsidizing, the Company conducted a survey of the level of involvement of construction companies in the ESG agenda
Corporate secretary
In order to efficiently organize the activities of the Board of Directors and the interaction of the Management Board with the Sole Shareholder, a corporate secretary is appointed by the Board of Directors.
The main tasks of the corporate secretary within the framework of his activities are:
- development of the corporate governance system;
- monitoring compliance with the best corporate behavior practices;
- organization of meetings of the Board of Directors and its committees;
- support for the work of the Board of Directors and its committees;
- ensuring effective interaction between the bodies of Kazakhstan Housing Company JSC;
- protection of the rights and interests of the Sole Shareholder;
- disclosure (provision) of information about Kazakhstan Housing Company JSC and storage of documents of Kazakhstan Housing Company JSC in accordance with the requirements of the legislation and internal documents of Kazakhstan Housing Company JSC.
The corporate secretary is accountable to the Board of Directors and is independent from the executive body.
The corporate secretary of Kazakhstan Housing Company JSC is Yegemberdiyev Maxat Tulegenovich.
Email address mail: myegemberdiyev@khc.kz
Phone: +7 (7172) 79-75-75 (ext. 2549)
Postal address: Republic of Kazakhstan, Z05T3E2, Astana, Esil district, Mangilik El ave, d. 55A.
Internal Audit Service
Mission
The mission of the IAS of Kazakhstan Housing Company JSC is to provide the necessary assistance to the Board of Directors and the Executive Body in fulfilling their responsibilities to achieve the strategic goals of Kazakhstan Housing Company JSC.
Goals
The main goal of the IAS is to monitor the financial and economic activities of Kazakhstan Housing Company JSC and provide the Board of Directors with independent reasonable guarantees and consultations aimed at improving the activities and increasing the management efficiency of Kazakhstan Housing Company JSC, including risk management systems, internal control and corporate governance of Kazakhstan Housing Company JSC, in accordance with the powers determined by the Board of Directors and the Regulation on the Internal Audit Service.
Regulations on the Internal Audit Service of Kazakhstan Housing Company JSC
IACOP provides reasonable assurances in the following areas:
efficiency of internal control systems, risk management, corporate governance;
efficiency of internal policies, documents and processes of Kazakhstan Housing Company JSC;
reliability, safety and quality of the information systems used.
IAS is responsible to the Board of Directors:
for untimely and poor-quality performance of the tasks and functions of the IAS in accordance with the Regulations of the IAS of Kazakhstan Housing Company JSC, other internal documents of the Company;
for failure to fulfill their duties in accordance with the legislation of the Republic of Kazakhstan, labor contracts and job descriptions.
Accountability
The IAS of Kazakhstan Housing Company JSC in its activities is independent of the influence of the members of the Management Board and other persons and in order to properly perform the tasks and functions assigned to it, to ensure objective and impartial judgments.
A responsibility
Interference of members of the Management Board and other persons in the processes of determining participants (subjects), subjects (objects), volumes and periods of audit, planning and execution of audit assignments, formation and submission of reports by IAS on the results of its activities is not allowed.
The head of the Internal Audit Service is Elena Viktorovna Karataeva.
Email address mail: ekaratayeva@khc.kz
Phone: +7 (7172) 79-75-75 (ext. 2543)
Postal address: Republic of Kazakhstan, Z05T3E2, Astana, Esil district, Mangilik El ave,
d. 55A.
Compliance and anti-corruption
The Compliance Control Service of Kazakhstan Housing Company JSC is part of the corporate governance system and is responsible for managing compliance risk – the risk of losses (material and reputational) due to non-compliance by Kazakhstan Housing Company JSC and its employees with the requirements of the legislation of the Republic of Kazakhstan and internal regulatory documents of Kazakhstan Housing Company JSC.
The main tasks of the Compliance Control Service are:
- implementation of compliance control, as well as compliance risk management in Kazakhstan Housing Company JSC;
- ensuring timely formation of reports and other information provided to authorized bodies and structural divisions of Kazakhstan Housing Company JSC;
- improving the compliance culture of Kazakhstan Housing Company JSC;
- implementation of preventive measures to prevent and combat corruption provided for by the legislation of the Republic of Kazakhstan and internal documents of Kazakhstan Housing Company JSC;
Head of the Compliance Control Service Maishekin Islambek Nurboblovich.
E-mail address: imaishekin@khc.kz
Phone: +7 (7172) 79-75-75 (ext. 2779), +7 702 447 74 02.
Regulations on the Compliance Control Service of JSC “Kazakhstan Housing Company”
Anti-corruption policy
Kazakhstan Housing Company JSC strives to build transparency and intolerance to manifestations of corruption in the Company.
The organization has developed and is implementing measures to prevent corruption offenses, which provides for comprehensive and systematic measures to improve internal regulatory documentation, conduct anti-corruption monitoring and analysis, and staff training in anti-corruption legislation of the Republic of Kazakhstan. There is an Anti-Corruption Policy and an Anti-Corruption Standard.
Anti-Corruption and Fraud Policy
In order to prevent fraudulent, corrupt and other illegal actions, as well as to improve the quality of customer service, please inform us about possible or known facts of fraud and corruption among employees of Kazakhstan Housing Company JSC and employees of other organizations and institutions related to the activities of Kazakhstan Housing Company JSC.
We guarantee confidentiality and anonymity (at the request of the person who applied), registration and consideration of all applications.
Information is received via any of the following communication channels that ensure confidentiality:
By email: skk@khc.kz
By phone: +7 (7172) 79-75-75 (ext. 4444).
To postal address: Republic of Kazakhstan, Astana, Mangilik El str., 55A.
Feedback (file a complaint)
CORPORATE GOVERNANCE
Ombudsman
In order to implement the requirements of the legislation of the Republic of Kazakhstan and internal documents of “Kazakhstan Housing Company” JSC on the settlement of corporate conflicts and conflicts of interest, the institution of the Ombudsman was introduced in “Kazakhstan Housing Company” JSC.
The task of the Ombudsman is to organize the consideration of disputes arising on the observance of business ethics and the settlement of conflicts of interest.
All employees of the Company, clients, partners and other interested persons have the right to contact the Ombudsman.
The Ombudsman of Kazakhstan Housing Company JSC is Akrachkova Dina Viktorovna, Chief of Staff of JSC “National Managing Holding” Baiterek “.
For violations of labor legislation by any employee and official of Kazakhstan Housing Company JSC, internal procedures and provisions of the Code of Business Conduct of Kazakhstan Housing Company JSC, as well as facts and situations that may lead to a corporate conflict and conflict of interest, please contact to the Ombudsman through the following communication channels:
Email address mail: d.akrachkova@baiterek.gov.kz
Phone: +7 (7172) 919-120
Postal address: Republic of Kazakhstan, Z05T3E2, Astana, Esil district, 55A Mangilik El ave.
Banking ombudsman
A banking ombudsman is an individual who is independent in his activities and who settles disputes arising from a mortgage loan agreement.
Phone numbers: +7 (727) 261-22-16, +7 (727) 983-30-16, +7 (708) 983-30-16
E-mail: office@bank-ombudsman.kz
Website: www.bank-ombudsman.kz
Address: 175 N. Nazarbayev Ave., office 302, A05H8F4, Almaty, Republic of Kazakhstan (corner of Kurmangazy Street)
Corporate training
The Board of Directors:
In 2023, no trainings were held for members of the Board of Directors of the “Kazakhstan Housing Company” JSC.
Legislation and regulations
- On Banks and Banking Activities in the Republic of Kazakhstan. Unofficial translation. The Law of the Republic of Kazakhstan dated 31 August 1995 No 2444.
- On joint stock companies. Unofficial translation. The Law of the Republic of Kazakhstan dated 13 May, 2003 No.415.
- On Mortgage of Immovable Property. Unofficial translation. The Law of the Republic of Kazakhstan dated 23 December, 1995.
- On equity participation in housing construction. Unofficial translation. The Law of the Republic of Kazakhstan dated April 7, 2016, № 486-V LRK.
Corporate documents
As part of the State program of housing and communal development “Nurly zher” for 2020-2025 (approved on 31.12.2019 № 1054) JSC “Kazakhstan Housing Company” continues to implement the direction of rental housing with redemption for socially vulnerable populations.
Licenses
Constituent documents
Codes
Regulations on the Board of Directors
Politics
Disclosure Policy
Rules
Rules for the organization of internal audit of "Kazakhstan Housing Company" JSC
Regulations
Regulations of "Kazakhstan Housing Company" JSC on working with problem loans
Standard forms of documents
A standard contract for the trusted management of voting shares
Stakeholders
Register of affiliated persons
Assessment
Instructions
Other
Career
The main value of “Kazakhstan Housing Company” JSC is its employees. Our employees are professionals in their field, motivated and focused on high results.
The main goal of the HR policy of “Kazakhstan Housing Company” JSC is the formation of professional personnel motivated to achieve the strategic goals and objectives of “Kazakhstan Housing Company” JSC.
“Kazakhstan Housing Company” JSC has a competitive selection system for candidates for vacant positions, which is aimed at selecting the best candidates, in accordance with the requirements for the level of qualifications and professional competence of candidates, based on their professional qualities, as well as those personal qualities that may be useful when working in the team of the Company.
If you want to become a part of the professional team of “Kazakhstan Housing Company” JSC, send your resume to the email address hr@khc.kz.
Specialist of the Department of Technical Monitoring
Current vacancies:
You can also view the current vacancies of the “Kazakhstan Housing Company” JSC on the portal at jobs.baiterek.gov.kz
Version for visually impaired