Muhtar Ablyazov General Director of AMT Bank Date of Birth: 16.05.1963 Country: Kazakhstan

Biography of Mukhtar Ablyazov

Mukhtar Ablyazov, the former Minister of Energy, Industry, and Trade of Kazakhstan (1998-1999), is a Kazakhstani oligarch and the CEO of AMT Bank. He was born on May 16, 1963, in the village of Galkino in the Leninsky District of the South Kazakhstan Region.

Ablyazov completed his studies at the Moscow Institute of Physics and Technology in 1986, specializing in theoretical physics. He later attended the Eurasian Institute of Market. From 1986 to 1990, he worked as an engineer, junior research fellow, and engineer at KazGU.

In 1990, Ablyazov became a postgraduate student at the Moscow Institute of Physics and Technology but abandoned his studies that same year to pursue business ventures. From 1991 to 1993, he served as the director of MP "Madina" and managed several small enterprises.

Between 1993 and 1997, Ablyazov founded, owned, and served as the president of the Kazakhstan Holding Company "Astana-Holding". From June 1997 to April 1998, he was the president of AOOT "KEGOS". In April 1998, he was appointed as the Minister of Energy, Industry, and Trade of Kazakhstan in the government of N. Balgimbaev.

Ablyazov's career continued with various positions, including chairman of the board of directors of "Kazakhstan Airlines" from January to September 2001. However, he faced investigation and legal issues related to embezzlement, concealing income, creating a criminal group, and abuse of power. In 2001, he became the chairman of the board of directors of "Kazakhstan Airlines".

In September 2001, Ablyazov was detained by law enforcement agencies but was soon released. From March 2001 to March 2002, he served as the chairman of the board of directors of OAO "Temirbank", which was owned by "Astana-Holding". In November 2001, after his release from custody, he became one of the organizers, sponsors, and leaders of the movement "Democratic Choice of Kazakhstan".

In February 2002, Ablyazov was placed under travel restrictions and was arrested in March of the same year for creating a criminal group, engaging in illegal entrepreneurial activities, and abusing his official position. In the summer of 2002, he was sentenced to six years in prison but was pardoned by President Nursultan Nazarbayev in April 2003.

After his release, Ablyazov became a member of the board of directors of OAO "Krasnoyarskkraikugol" from November 2003 to May 2005. Since January 2005, he has been the president of LLC Investment and Industrial Group "Eurasia". From May 2005 to February 2009, he served as the Chairman of the Board of Directors of AO "Bank TuranAlem".

However, on February 2, 2009, Ablyazov was removed from his position as the head of the bank due to his activities being deemed contrary to the interests of depositors, creditors, and existing legislation. He left Kazakhstan in February 2009 and has been hiding in the United Kingdom since then.

Ablyazov faced legal troubles in both Russia and Kazakhstan, with accusations of embezzlement and the creation of fraudulent schemes to misappropriate assets from BTA Bank. He has been married and has three children, including a daughter named Madina, who is married to Ilyas Khrapunov, the adopted son of Victor Khrapunov. Ablyazov was once a co-owner of "Temirbank" and "TuranAlem" Bank (BTA), as well as corporations such as "Astana-Holding" and various other enterprises. However, he has lost the majority of his assets. Additionally, Ablyazov is known for his passion for chess.

Ablyazov rose to prominence as a prominent businessman during the privatization period in Kazakhstan in 1997-1998, with the support of Prime Minister Akhmetzhan Yesimov and Minister of Energy and Coal Industry Viktor Khrapunov.