Although being a metallurgist by profession, Sembaev worked in various state financial positions in the early years of Kazakhstan's independence where he oversaw the formation of the newly sovereign national currency which earned him a nickname as the "father of tenge", implementation of the pension reforms, and heading the Kazakh National Bank, Kazkommertsbank, and the Kazakh Association of Financiers.

Daulet's father, Hamid Sembaev, was a teacher who later became the People's Commissioner and Minister of Education of the Kazakh SSR.

[3] From 1958 to 1966, he was a foundry technologist, senior foreman of the black casting section of the S. M. Kirov Alma-Ata machine-building plant.

[4] From 6 February 1992, he served as the First Deputy Prime Minister of Kazakhstan where he headed the State Commission during the introduction of the Kazakhstani tenge until he was dismissed on 17 December 1993 and replaced by Akejan Kajegeldin.

Sembaev took initiatives to tighten the requirements for the structure of authorized banking funds, forming supervision based on international principles and standards to ensure the stability of the tenge.

[9] In the 2004 legislative elections, Sembaev was included in the Ak Zhol party list for the contesting seat in the Mäjilis.

[10] Since 8 August 2005, Sembaev has been an Honorary Chairman of the Council of the Association of Financiers and from 23 December 2009, as a member of the Board of Trustees of the International Academy of Business.