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Karim Massimov appointed chairman of Samruk-Kazyna

21 april 2014, 22:31
©Danial Okasov
©Danial Okasov

Prime-Minister of Kazakhstan Karim Massimov has been appointed Chairman of the Board of Directors of Samruk-Kazyna Sovereign Wealth Fund, Tengrinews reports citing the website of the Kazakhstan Stock Exchange (KASE).

He was appointed by the governmental decree No. 329 as of April 9, 2014.

Serik Akhmetov, former Prime-Minister of Kazakhstan and currently the country's Defense Minister, chaired the board before the new appointment.

He was first replaced by Karim Massimov as Kazakhstan's Prime-Minister on April 2 and is now replaced as Chairman of Kazakhstan's Wealth Fund.

Samruk-Kazyna is a Kazakhstani holding that owns, in part or in whole, key state-run companies in the country, including the national rail and postal services, KazMunayGas oil and gas company, KazAtomProm uranium company and Air Astana airlines. The state is the sole shareholder of the fund.

Samruk-Kazyna controls $78 billion in assets, or nearly 56% of the country's GDP. The Kazakhstan Government expects the assets to reach $100 billion by 2015.

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