[2] It was created in October 2008 with the merger of two funds, "Samruk" and "Kazyna", by decree of the president of Kazakhstan, Nursultan Nazarbayev.

Independent directors include Sir Richard Harry Evans, Alper Akdeniz, Wilhelm Bender.

President Nursultan Nazarbayev initiated the unification of national companies into a single holding under the control of the state.

The idea to unite all national companies into a single holding under state control was born by Nursultan Nazarbayev after his visit to Singapore in autumn 2003.

[citation needed] After studying the experience of 13 world state holdings, it was concluded that one of the resources of Kazakhstan in increasing the long-term value and capitalization of national companies is to improve corporate governance.

Yessimov has been criticised for allowing Samruk to deposit about $350 million in cash with his son-in-law Yessenov's bank, ATF.