Early life and education Sembaev was born to a
Kazakh Muslim family in the city of
Alma-Ata (now Almaty, Kazakhstan). His first name means "fortune" or "property" in the
Persian,
Kazakh, and
Urdu languages. Daulet's father, Hamid Sembaev, was a teacher who later became the People's Commissioner and Minister of Education of the Kazakh SSR. In 1958, Daulet graduated from the Institute of Metallurgy and Industrial Engineering in the
Satbayev University, specializing in metallurgical engineering.
Career 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. From 1966 to 1975, Sembaev served as a chief specialist, head of a sub-department, and the deputy head of a department of the State Planning Committee of the Kazakh SSR. In 1975, he became the head of the Secretariat of the Chairman of the Council of Ministers of the Kazakh SSR. From 1979, Sembaev served as the Deputy Chief Executive Officer of the Council of Ministers of the Kazakh SSR. In 1983, he became the head of the Department of the State Planning Committee of the Kazakh SSR. From 1987, Sembaev was the deputy chairman of the State Planning Committee of the Kazakh SSR. In November 1990, he became the deputy chairman of the Supreme Economic Council of the Kazakh SSR. 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. That same day, Sembaev became the chairman of the
National Bank of Kazakhstan. During that time, Sembaev faced serious challenges in regards with the Kazakh economy which dealt with financial crisis. 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. From there, he served as the chairman of the Committee on Economy, Finance and Budget until May 1997, when he became the Deputy Board of Directors of OJSC Gornorudnaya ABS–Balkhash. In the
2004 legislative elections, Sembaev was included in the Ak Zhol party list for the contesting seat in the
Mäjilis. 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. == Death ==