Exhibit 17.1

Daymon M. Smith

352 East 426 North

Alpine, Utah 84004

Boris Cherdabayev, Chairman

Board of Directors

BMB Munai, Inc.

324 S 400 W, Suite 250

Salt Lake City, Utah 84101

January 27, 2012

Dear Boris,

It is with regret that I am writing to inform you of my decision to resign my position on the Board of BMB Munai, Inc., effective upon acceptance of said resignation by the Board.  It has been my pleasure to serve on the Board.

Sincerely,

/s/ Daymon M. Smith

Daymon M. Smith