The KASE Clearing Center consistently and systematically improves its corporate governance system, following the best international practices and standards. The KASE Clearing Center has the Corporate Governance Code approved by decision of the Sole Shareholder (minutes of the meeting dated December 20, 2024, No. 39). This new Code defines the principles and standards of company governance with the aim of increasing the transparency, accountability and performance.
The Code was developed taking into account the best international practices, including recommendations from the Organization for Economic Co-operation and Development (OECD), and reflects the KASE Clearing Center's commitment to the principles of transparency, responsibility and effective interaction between all participants in corporate relations. It establishes clear rules and standards for the management bodies, shareholders and other stakeholders, aimed at improving the management effectiveness and ensuring the sustainable development of the company.
The Code's importance for the KASE Clearing Center
Introduction and observance of the Corporate Governance Code enables the KASE Clearing Center to strengthen the investor and partner confidence, enhance the business transparency and reduce the management risks. This contributes to creation of favorable conditions for development of the Republic of Kazakhstan's financial market and maintenance of an international level of corporate governance.
Fundamental principles of the Corporate Governance Code:
Protection of rights and interests of the shareholders
The KASE Clearing Center ensures observance and protection of shareholders' rights, guaranteeing their equal and fair access to information, the opportunity to participate in the company management and protection from actions violating their interests
Effective management of KASE Clearing Center
Management is carried out based on interaction between the General Meeting of Shareholders, the Board of Directors and the Management Board, which enables informed and prompt decision-making aimed at achieving the organization's strategic goals
Transparency and objective disclosure
The company adheres to high standards of disclosure, ensuring timely, complete and reliable informing of market participants and stakeholders about its activities, financial condition and key decisions
Responsibility in corporate governance
Management bodies and officials are responsible for their decisions and results of activities, which contributes to increased trust and formation of a positive business reputation
Compliance with the law and corporate ethics
The Clearing Center strictly adheres to the laws of the Republic of Kazakhstan and international standards, and maintains high standards of corporate ethics, preventing conflicts of interest and ensuring integrity in business relations
Risk management, internal control and audit
The company has a system for identifying, assessing and managing the risks, as well as effective internal control and audit mechanisms aimed at minimizing the potential threats and ensuring the stability of operations
Effectiveness of dividend policy
The profit distribution policy is aimed at balanced satisfaction of the shareholders' interests and the needs of KASE Clearing Center for investment for further development
Sustainable development
KASE Clearing Center strives for long-term sustainability by integrating principles of social responsibility and environmental safety into its strategy and operating activities
The total number of authorized shares of JSC "KASE Clearing Centre" is 400,000, of which 531 shares are issued.
According to the securities holders register system, the sole major shareholder of the Clearing Centre is JSC "Kazakhstan Stock Exchange", holding a 100% equity interest.
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