<SEC-DOCUMENT>0001140361-15-042728.txt : 20151124
<SEC-HEADER>0001140361-15-042728.hdr.sgml : 20151124
<ACCEPTANCE-DATETIME>20151124144731
ACCESSION NUMBER:		0001140361-15-042728
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20151123
FILED AS OF DATE:		20151124
DATE AS OF CHANGE:		20151124

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BMB MUNAI INC
		CENTRAL INDEX KEY:			0000924805
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				300233726
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0331

	BUSINESS ADDRESS:	
		STREET 1:		C/O POULTON & YORDAN
		STREET 2:		324 SOUTH 400 WEST SUITE 250
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84101
		BUSINESS PHONE:		801-355-2227

	MAIL ADDRESS:	
		STREET 1:		C/O POULTON & YORDAN
		STREET 2:		324 SOUTH 400 WEST SUITE 250
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84101

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERUNION FINANCIAL CORP
		DATE OF NAME CHANGE:	19960719

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Turlov Timur R
		CENTRAL INDEX KEY:			0001658629

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33034
		FILM NUMBER:		151252246

	MAIL ADDRESS:	
		STREET 1:		VLANSKIY PER. 14B
		STREET 2:		AP. 67
		CITY:			MOSCOW
		STATE:			1Z
		ZIP:			101000
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>doc1.xml
<DESCRIPTION>FORM 3
<TEXT>
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<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2015-11-23</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000924805</issuerCik>
        <issuerName>BMB MUNAI INC</issuerName>
        <issuerTradingSymbol>BMBM</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001658629</rptOwnerCik>
            <rptOwnerName>Turlov Timur R</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>127051 TRUBNAYA ST 23/2</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>MOSCOW</rptOwnerCity>
            <rptOwnerState>1Z</rptOwnerState>
            <rptOwnerZipCode>129090</rptOwnerZipCode>
            <rptOwnerStateDescription>RUSSIAN FEDERATION</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Executive Officer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>224551913</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes></footnotes>

    <remarks>See Exhibit 99.1</remarks>

    <ownerSignature>
        <signatureName>/s/ Timur R. Turlov</signatureName>
        <signatureDate>2015-11-24</signatureDate>
    </ownerSignature>
</ownershipDocument>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>form3turlov.htm
<DESCRIPTION>EXHIBIT 99.1
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<div style="MARGIN-LEFT: -45pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">On November 23, 2015, the Reporting Person and the Issuer entered into a Share Exchange and Acquisition Agreement, dated November 23, 2015, (the &#8220;Acquisition Agreement&#8221;), which was filed as Exhibit 2.01 to the Current Report on Form 8-K filed with the Securities and Exchange Commission by the Issuer on November 23, 2015 and which is incorporated herein in its entirety by this reference.&#160;&#160;Pursuant to Acquisition Agreement the Reporting Person acquired 224,551,913 shares of common stock of the Issuer, which represents approximately 80.1% of the issued and outstanding common stock of the Issuer in exchange for all of the issued and outstanding common stock of FFIN Securities, Inc., (&#8220;FFIN&#8221;) a Nevada corporation incorporated for the purpose of pursuing licensure as a registered broker dealer in the United States.&#160;&#160;In connection with the transaction, FFIN became a wholly owned subsidiary of the Issuer.&#160;&#160;The Acquisition Agreement provides that the Reporting Person may acquire up to an additional 13% of the then total issued and outstanding common stock of the Issuer in exchange for all of the issued and outstanding common stock of Investment Company Freedom Finance LLC., (&#8220;Freedom RU&#8221;) an operating registered broker dealer in Russia, including its wholly owned subsidiary, Freedom Finance JSC, (&#8220;Freedom KZ&#8221;) an operating registered broker dealer in Kazakhstan.&#160;&#160;Freedom RU would become a wholly owned subsidiary of the Issuer.&#160;&#160;The Acquisition Agreement provides further that the Reporting Person may acquire up to an additional 2% of the then total issued and outstanding common stock of the Issuer in exchange for all of the issued and outstanding common stock of FFINEU Investment Limited, (&#8220;Freedom Cyprus&#8221;) a Cyprus limited company, which is in the process of activating its licensure as a licensed broker dealer in Cyprus and which would become a wholly owned subsidiary of the Issuer.&#160;&#160;Closing of the acquisitions of Freedom RU and Freedom CY is subject to satisfaction of the terms and conditions of the Article 1, Plan of Exchange; Closings, Article 2 Conditions Precedent to the Company&#8217;s Obligation to Close and Article 3 Conditions Precedent to Shareholder&#8217;s Obligation to Close.&#160;&#160;If the parties are successful in closing the acquisitions of Freedom RU and Freedom CY the Reporting Person will own 95% of the then issued and outstanding common stock of the Issuer.&#160;&#160;T<font style="DISPLAY: inline; BACKGROUND-COLOR: #ffffff">he Issuer will not have a sufficient number of authorized but unissued shares to issue the number of shares required under the Acquisition Agreement to acquire Freedom&#160;RU and Freedom&#160;CY, therefore, the Issuer has agreed to recapitalize by effecting a reverse split of its common stock as described in the Current Report on Form 8-K. The Reporting Person was appointed to the Board of Directors of the Reporting Person and as Chief Executive Officer on November 23, 2015.</font></font></font></div>

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