On April 5, a meeting of Kazakhstan’s endowment funds was held in Almaty. The meeting was attended by representatives of endowment funds, the Ministry of Science and Higher Education, investment companies, the Association of Financiers of Kazakhstan, and endowment funds from Russia. More than 40 people took part in total.
Farhad Kuanganov, Head of the Project Office of the Ministry of Science and Higher Education, spoke about the changes expected to affect endowment funds following the adoption of the Law on Endowment Funds (Endowments), which has currently been submitted to the Mazhilis of the Parliament for consideration. He also presented the latest amendments to the draft law.
Svetlana Lavrova, Chair of the Aurora-Ala Foundation’s Board of Trustees, presented statistical data on the activities of Russian and U.S. endowment funds. Particular attention was paid to the trust management of endowment assets, which was discussed by representatives of investment companies.
The activities of existing endowment funds were presented by their heads. At the end of the event, the participants discussed current challenges facing endowment funds in connection with the adoption of the law and ways to address them.
Following the event, the participants adopted an appeal addressed to members of the Mazhilis of the Parliament, calling on them to support the draft law. The appeal emphasized the need for tax incentives to support the development of the country’s endowment funds.
The next meeting is planned to be held at the Republican Physics and Mathematics School in Almaty.
The participants agreed to hold similar meetings regularly, highlighting their effectiveness in building the endowment community and advancing the sector’s agenda.
The event was organized by the Project Office of the Ministry of Science and Higher Education of the Republic of Kazakhstan in partnership with the Aurora-Ala Foundation and the Association of Financiers of Kazakhstan, with the support of the investment companies Standard and Tansar Capital and the Association of Financiers of Kazakhstan.