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National Management Holding “Baiterek” was established in Kazakhstan.

Decree of the President of the Republic of Kazakhstan No.571 as of May 22, 2013 “On some measures on optimization of the system of management of development institutions, financial organizations, and the development of the national economy” is available on the official website of Akorda.

For the purpose of optimization of the system of management of development institutions, financial organizations, and the development of the national economy, the President gave ruling to the Government of the Republic of Kazakhstan in the manner prescribed by the laws:

1) to create a joint-stock company National Management Holding “Baiterek” (JSC NMH “Baiterek”);

2) to set that JSC NMH “Baiterek” is the national management holding, whose main activity is the management of shares (equity interests) of the national development institutions, national companies, and other legal entities that are held on the basis of the right of ownership and transferred in trust;

3) to provide:

- approval of the list of joint-stock companies, whose state-owned stakes are transferred as payment of the shares of JSC NMH “Baiterek” to be placed, including joint stock companies, according to Appendix 1 to the Decree;
- transfer under the contract of exchange of the republican property specified in Appendix 2 to the Decree, into ownership of the Joint-stock Company Sovereign Wealth Fund “Samruk-Kazyna”;
- before January 1, 2014, the development of the legal framework of the activity of JSC NMH “Baiterek” in order to promote the development and diversification of the economy, attracting investments, and cluster development;

4) to take other measures necessary for the implementation of the Decree.

The Executive Office of the President of the Republic of Kazakhstan shall be charged with monitoring the execution of this the Decree.

The list of joint-stock companies, whose state-owned stakes are transferred as payment of the shares to be placed of JSC National Management Holding “Baiterek” includes:

1. Joint-stock company National Agency for Technological Development (100% of shares)
2. Joint-stock company House Construction Savings Bank of Kazakhstan (100% of shares);
3. Joint-stock company Mortgage Organization “Kazakhstan Mortgage Company (91.3554% of shares);
4. Joint-stock company Kazakhstan mortgage guarantee fund (100% of shares);
5. Joint-stock company Distressed Assets Funds (100% of shares);
6. Joint-stock company Development Bank of Kazakhstan (100% of shares);
7. Joint-stock company Kazyna Capital Management (100% of shares);
8. joint-stock company “KazakhExport” (100% of shares);
9. Joint stock company Kazakhstan Investment Fund (100% of shares);
10. Joint-stock company «Damu Entrepreneurship Development Fund (100% of shares).