Kairat Kelimbetov, former head of the National Bank of Kazakhstan, has left the board of directors of Freedom Holding Corp, the company of businessman Timur Turlov. This was reported on the website of the Astana International Exchange (AIX), reports infohub.kz.
The personnel change took place on July 8. The holding company assured that the resignation was not related to any disagreements.
After Kelimbetov's departure, the number of board members decreased from seven to six.
Kelimbetov joined the board of Freedom Holding Corp in early June 2024. In September 2023, he became an adviser at Timur Turlov's research company Freedom Horizons. At that time, Turlov explained that expanding the board to seven members was due to the corporation's expanding jurisdiction and the need for experience from managers in various fields.
The 57-year-old Kelimbetov served as head of the National Bank of Kazakhstan from October 2013 to November 2015. Under his leadership, the tenge halved in value in February 2014 and August 2015, after which the regulator moved to a floating exchange rate. After his tenure at the central bank, Kelimbetov served as governor of the Astana International Financial Centre from late 2015 to January 2023. Prior to his central bank role, he was deputy prime minister. In 2011, he served as Minister of Economic Development and Trade of Kazakhstan, and from 2008 to 2011 he headed the Samruk-Kazyna National Welfare Fund.