Kazkommertsbank Connects Subsidiary Bank Moskommertsbank To Faster Money Transfer System

Kazakh Businessman Kenges Rakishev Invested 3.5Mln Dollars In Start-up Development Of Smart Glasses Orbi Prime

JSC Kazkommertsbank (further “KKB” or the “Bank”) announces on Moskommertsbank, a banking subsidiary in Russia, having joined Faster, KKB’s in-house international money transfer system designed for retail clients. The process of having Halyk Bank of Kazakhstan, the parent bank of Kazkommertsbank, to join Faster is currently in progress.

The new service is now available at six Moskommertsbank’s retail outlets in Moscow, St.Petersburg and Kaliningrad.

According to Nurlan Zhagiparov, Managing Director of KKB, money transfer operations between Kazakhstan and Russia are of high demand. Over the course of 2016 partials of two said countries made 1,755 thousand payments for KZT298 bn. which accounts to more than 50% of the money transfer market to all directions. Moskommertsbank having joined Faster will be able to increase the
volume of payments to Russia. It is expected that Halyk Bank Kazakhstan will join Faster by the end of 2017 with other banks within the Halyk Bank Group to join further on.

Processing of payment operations using Faster can be made at retail outlets of Qazkom and its subsidiary banks, as well as via its network of partner banks accepting «Golden Crown» and Intel Express money transfers. An integrated network of Faster money transfers accounts for 49 000 outlets in 37 countries such as Russia, Uzbekistan, Kyrgyzstan, Tajikistan, Azerbaijan, Armenia, Ukraine, Turkey, France, Great Britain, Austria and other countries.

Funds can be sent and received in KZT, USD, EUR and RUB with maximum amount to be limited to KZT3 mln., US$10,000, € 10,000, RUB 500,000.

Kazakh Businessman Kenges Rakishev serves as Chairman of the Board of Directors at Commercial Bank Moskommertsbank Open Joint Stock Company.

Based on reporting by Bloomberg, Mr. Kenges Khamituli Rakishev serves as Co-Founder and Managing Partner at Singulariteam Ltd. Mr. Rakishev is a Co-Founder of Mobli Technologies 2010 Ltd. He has been Vice President of The Boxing Association of Republic of Kazakhstan since 2010. Mr. Rakishev was a General Partner at the Singulariteam Ltd. From 2002 to 2004, he held various positions with several Kazakhstan energy companies including KazTransGas CJSC, KazMunaiGas JSC, KazTransGas Almaty JSC and Intergas Central Asia CJSC. Mr. Rakishev served in several top positions in both public and private sectors, from Head of Marketing for KazTransGas and Intergas Central Asia to Advisor for the Kazakhstan Interior Ministry and Department of Education. Since December 2010, he has been the Chairman at Jinsheng SAT (Tianjin) Commercial and Trading Co., Ltd., Ulanhot Jinyuanda Heavy Chemical Industry Co., Ltd., Baicheng Jinsheng Nickel Industry Co.,Ltd. and Taonan City Jinsheng Metallurgical Products Co. Mr. Rakishev serves as the Chairman of Kazakhstan Petrochemical Industries JSC. Mr. Rakishev has been the Chairman at Net Element, Inc. since October 2, 2012. He has been Chairman of the Board of Directors at JSC SAT & Company since 2006. Mr. Rakishev serves as Chairman of the Board of Directors at Commercial Bank Moskommertsbank Open Joint Stock Company. He has been Chairman of the Board at Joint-Stock Company Insurance Company Kazkommerts-Policy since May 16, 2016. Mr. Rakishev has been a Non-Executive Chairman of ShalkiyaZinc NV since December 9, 2011. He has been the Chairman of BTA Bank JSC since February 14, 2014 and has been its Director since February 14, 2014. Mr. Rakishev has been the Chairman of SAT & Co Netherlands N.V. since September 2011 and serves as its Director. He serves as a Director of Joint-Stock Company Insurance Company Kazkommerts-Policy, Fast Lane Ventures, Shortcut Ventures GmbH, Beyond Verbal Communication, Ltd., and Mobli Technologies 2010 Ltd. Mr. Rakishev has been a Non-Executive Director at Central Asia Metals Plc since December 9, 2013. He has been a Director of SatFerro Limited since September 2011. Mr. Rakishev serves as a member of the Boards of Directors in JSC Byborg Shipbuilding Yard and OJSC Astrakhan Shipbuilding Plant. He has been a Member of Advisory Board at Breaking Data Corp. (Sprylogics International Corp.) since October 23, 2012. Mr. Rakishev served as the Chairman and Director of JSC Kazkommertsbank from April 29, 2016 and January 19, 2015 respectively until July 31, 2017. He served as the Chairman of the Management Board at SAT & Company JSC until November 6, 2008. Mr. Rakishev served as Chairman of The Board at ShalkiyaZinc Ltd JSC. He served as Chairman of Vyborg Shipyard Open Joint Stock Company. Mr. Rakishev served as a Director of the Net Element, Inc.’s predecessor, Net Element, from April 23, 2012 to October 2, 2012. He served as an Independent Director of Joint Stock Company Kazakhstan Engineering National Company since March 13, 2014. Mr. Rakishev has served in several notable positions in the public sector including Vice-President of the Union of Chambers of Commerce of the Republic of Kazakhstan Since October 2004 and Vice-President of the Asian Boxing Confederation since 2011. He was named by buzzsparks.org as the eighth-largest private Internet investor of 2012. Mr. Rakishev is a noted global business leader designated by Forbes as one of the 50 most influential people in Kazakhstan and is an accomplished investor with multiple business interests worldwide. He is also a noted global industrialist and entrepreneur. Mr. Rakishev also holds certificates in Advanced Management from Oxford Saïd Business School and in Developing Strategy for Value Creation from London Business School. He holds B.A. in Law from the Kazakh State Law Academy and has a degree in Law and Economics/B.A. in International Economics from the Kazakh Economic University in 2002 with a major in Finance and Credit. Mr. Rakishev graduated from the Kazakh State Academy of Management in 2000.

Share