«Samruk-Kazyna» JSC became official member of International Forum of Sovereign Wealth Funds (IFSWF)
A ceremony of signing the agreement on the accession of «Samruk-Kazyna» JSC into the organization of International Forum of Sovereign Wealth Funds (IFSWF) took place in the capital of Qatar in Doha. The document was signed by Chairman of the Management Board of «Samruk-Kazyna» JSC Umirzak Shukeyev and Chairman of the Forum Bader al-Sa'ad.
«The organization monitors the activities of sovereign wealth funds in the world. The bilateral meetings are taking place within the forum where joint projects are discussed, the company invite each other to invest while minimizing risks. It is a great honor for «Samruk-Kazyna» to join the International Forum of Sovereign Wealth Funds,” CEO of “Samruk-Kazyna” JSC U. Shukeyev told after the signing ceremony.
«Samruk-Kazyna» JSC became the 26th member of the Forum. Formal membership gives «Samruk-Kazyna» the right to participate in the annual meetings of the Forum, support by the Forum Secretariat, access to the international system of sovereign wealth funds, the possibility of studying the best practices of members and others.
Forum is an elite club, including 25 leading sovereign wealth funds, such as “Temasek Holdings” (Singapore), “Khazanah Nasional” (Malaysia), «China Investment Corporation» (China), the National Welfare Fund (RF ), “Qatar Investment Authority” (Qatar), and others. The selection criteria for the organization is to meet a number of requirements, such as financial stability and transparency, corporate governance and efficiency. All these requirements are concentrated in the so-called Santiago principles.
The same day, Emir of the State of Qatar HH Sheikh Tamim bin Hamad Al-Thani welcomed participants of the forum.
The management of «Samruk-Kazyna» held a series of meetings with the companies belonging to the Qatar Investment Authority. The sides discussed cooperation issues in the field of alternative energy, mining industry. Qatar Investment Authority Fund expressed interest in buying objects and assets under the privatization program during the presentation of assets map of «Samruk-Kazyna».
Reference: The International Forum of Sovereign Wealth Funds (IFSWF) was established by the International Working Group of Sovereign Wealth Funds (IWG), which met in Kuwait City on April 5-6, 2009 as a voluntary association. The objectives of the forum is to exchange views on issues of common interest, promote their activities and facilitate an understanding of the Santiago Principles . Membership is open to the respective funds.