Freedom Holding Corp. — Director's Dealing 2006

Feb 17, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BMB MUNAI INC (BMBM)
CIK: 0000924805
Period of Report: 2006-02-15

Reporting Person: Credifinance Capital Corp. (Report Pres is Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-01-09	Common	X	31666	$4.00	Acquired	390352	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-02-15	Warrant	$4.00	X	31666	Disposed	2006-02-17	Common (31666)	Direct

Footnotes

F1: Exercise of Agent's Warrants