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The Executive Branch
May 1998
| President | The President of Kazakhstan is the Head of State and the leader of the executive branch of power. The President is elected by universal suffrage for a five-year term. According to the Constitution, presidents are restricted to two terms in office. The President must be politically neutral and he/she should suspend his/her membership in any political party during his/her term in office. The President nominates and dismisses the Prime Minister and his deputies, Members of the Government, the Chairman of the National (Central) Bank, the General Prosecutor, and the Chairman of the National Securities Commission. Moreover, the nominations and dismissals of ministers do not require the preliminary consent of the Parliament and are solely Presidential decisions. The President is entitled, under certain circumstances, to dismiss the Parliament or the Government. The President is also the Commander-in-Chief of the national army. |
| Nursultan Nazarbaev | The first President of Kazakhstan, Nursultan Nazarbaev, was elected by 98.8% of the popular vote during elections held in December 1991. On April 9, 1995, in a public referendum, the President’s term in office was extended to the year 2001. |
© Kazkommerts Securities 1998. Please cite source when quoting. This report has been prepared by Kazkommerts Securities and provided solely for information purposes to recipients only. The information contained herein has been obtained from sources believed to be reliable, but is not necessarily complete and its accuracy cannot be guaranteed. This information does not constitute an offer to buy or sell securities. Kazkommerts Securities or its affiliated persons may be buying, selling or holding long or short positions, acting as investment bankers, be represented on the Board of the issuers in securities mentioned herein. This report is not intended for the use of private investors. Investment in Kazakhstan markets is an extremely risky activity and many persons, physical and legal, may be completely or partially restricted from dealing in the Kazakhstan securities markets. |
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