I would like to share with you the latest development and plans related to our organization.
As many of you know JSC «Export Credit Insurance Corporation «KazExportGarant» (hereinafter – KazExportGarant) was established as national development institution in accordance with the Resolution of the Government of the Republic of Kazakhstan from May 12, 2003 No.442.
On 24 of February 2017 the Management Board of the JSC “National Managing Holding “Baiterek” (Shareholder of KazExportGarant) decided to transform KazExportGarant to JSC “Export Insurance Company “KazakhExport” (hereinafter – KazakhExport).
As per Resolution of the Government of the Republic of Kazakhstan from March 10, 2017 No.112 status of KazakhExport was changed to National Company.
On 30 of March 2017, the name of KazExportGarant was changed to KazakhExport as per the registration from Ministry of Justice of the Republic of Kazakhstan. Renaming are registered in accordance with the procedure established by the legislation of the Republic of Kazakhstan. In this regard, earlier concluded agreements, contracts with KazExportGarant have legal force both in the territory of the Republic of Kazakhstan and abroad.
KazakhExport will be one stop shop for financial and insurance support of non-commodity exporters of the Republic of Kazakhstan. The main products of KazakhExport will be export credit insurance, pre-export and trade export financing as well as reinsurance activities.
In addition, JSC “National Managing Holding “Baiterek” has capitalized KazakhExport by KZT27.9 bln (approximately 87 million USD). In particular, in October 2016 and in March 2017 the equity capital of KazakhExport was increased by amounts of KZT14 bln (approximately 44 mln USD) and KZT13.9 bln (approximately 43 USD), respectively. As of May 2017 KazakhExport equity is approximately KZT39 bil (Approximately 123 million USD).
The main goal of KazakhExport will be the further development of exports of domestic products and increase of the total export potential of the Republic of Kazakhstan.
For any further questions, you may contact us by email at email@example.com. Our team will be happy to assist with all your queries.
Chairman of the Board