The Minister of Finance Timur Ishmetov has become the new Chairman for the Supervisory Board of Xalq Banki, the Unified Portal of Corporate Information reports.
Prior to his appointment, the post was held by the Minister of Economic Development and Poverty Reduction, Jamshid Kuchkarov.
The Supervisory Board also includes Deputy Minister of Economic Development and Poverty Reduction Adiz Boboyev, Vice President of Internal Audit at “Ilim” group (Russia), Sirojiddin Zaynutdinov, and First Vice President of Mubadala Investment Company (UAE), Cyril Latroche.
Timur Ishmetov had previously stated that by the end of the year the share of foreign independent directors in supervisory boards in state banks would increase to 30%.
He stressed that “independent directors will strengthen the control over the banks’ activities”. “Any policy and operations conducted by state banks should be approved by the board,” the Minister noted.