Insights from Development Bank of Kazakhstan’s Independent Director on Risk Management, ESG, and Investment Strategies
Marcia Favale, a member of the board of directors and an independent director at the Development Bank of Kazakhstan (DBK), recently shared her career story and insights in an interview with The Astana Times.
Having first visited Kazakhstan in 2001, Favale described it as love at first sight and has been actively involved in the country’s development ever since. With a background in finance and investment, she has played crucial roles in restructuring major banks like BTA Bank, Alliance Bank, and Temir Bank.
Favale emphasized the importance of resilience in economies and the need for a robust domestic capital market to incentivize entrepreneurship and diversify the economy. She highlighted DBK’s strategic goals of diversifying the economy and supporting private sector growth, with a focus on smart capital allocation and key industries.
The bank’s commitment to ESG principles and meritocracy was also underscored by Favale, who noted DBK’s progress in integrating ESG into its operations and promoting internal talent, including women in leadership roles.
Looking towards the future, Favale stressed the importance of nurturing domestic talent and entrepreneurship while also attracting foreign investment. She commended the government’s efforts in being forward-facing and active in promoting entrepreneurship and attracting investment.
Lastly, Favale urged for a culture that applauds those who fail big, emphasizing that failure is essential for innovation and learning. She highlighted the need to support and incentivize entrepreneurs, even in the face of setbacks.
The full interview with Marcia Favale is available on The Astana Times YouTube channel for those interested in learning more about her insights and experiences.
