The Bachelor of Finance (BFIN) program equips students with thorough knowledge of the following topics:
- the theory and application of corporate finance;
- the fundamentals of investment analysis and portfolio management;
- the nature, structure, and functions of financial institutions;
- the regulation, supervision and management of financial institutions.
Upon successful completion of the Bachelor of Finance program, graduates will be able to:
- describe and apply capital budgeting techniques in evaluating investment decisions;
- demonstrate analytical and computational skills in determining the optimal level of capital structure;
- analyze the current business and investment environment (domestic and international), including the effect of changes in exchange rates, interest rates, and inflation, in making investment and portfolio management decisions;
- explain and apply the methods of evaluating portfolio performance;
- demonstrate knowledge in analyzing financial statements of banks as well as banking operations and performance;
- describe financial regulations and supervision requirements, and demonstrate computational skills in calculating the capital adequacy ratio;
- describe and apply the concepts and theories of ethics as they apply to the field of finance.
To earn the Bachelor of Finance degree, students must complete 146 KIMEP credits or 240 ECTS.
The following table illustrates the structure of the BFIN Program.
| Category of courses | KIMEP Credits | ECTS Credits |
| General Education | 36 | 56 |
| Program Foundation | 68 | 112 |
| Program Specialization | 36 | 60 |
| Final Attestation | 6 | 12 |
| TOTAL | 146 | 240 |
General Education Courses (56 ECTS/36 KIMEP credits)
The General Education component consist of two parts:
(1) General Education Required courses (33 KIMEP /51 ECTS Credits),
(2) General Education Elective Courses (3 KIMEP/5 ECTS Credits).
The following table illustrates the requirements of the General Education component of the program.
| Code | General Education Courses | ECTS Credits | KIMEP Credits | Prerequisite |
| General Education Required Courses | 51 | 33 | ||
| GEN/IRL 1000 | Modern History of Kazakhstan | 5 | 3 | None |
| GEN/OPM 1300 or GEN/OPM 2301 |
Information and Communication Technologies or Business Computer Applications | 5 | 3 | None |
| GENXXXX | Physical Education | 8 | 4 | None |
| GENXXXX | Module of socio-political courses | 8 | 8 | None |
| KAZ/RUS2101 | Kazakh (Russian) Language 1 | 5 | 3 | None |
| KAZ/RUS2102 | Kazakh (Russian) Language 2 | 5 | 3 | None |
| ENG 1110/
GEN1010 |
Academic Listening and Note Taking | 5 | 3 | None |
| ENG 1120 | Academic Reading and Writing 1 | 5 | 3 | None |
| GEN/IRL 2500 or GEN/IRL 2510 |
Introduction to Philosophy or Principles of Ethics | 5 | 3 | None |
| General Education Elective Course | 5 | 3 | ||
| GENXXXX | General Education course | 5 | 3 | |
| TOTAL | 56 | 36 | ||
Program Foundation Courses (112 ECTS/68 KIMEP Credits)
The Program Foundation component consists of two parts:
(1) Program Foundation Required Courses (32 KIMEP /52 ECTS Credits)
(2) Program Foundation Elective Courses (36 KIMEP/60 ECTS Credits)
The following table illustrates the requirements of the Program Foundation component of the program.
|
Program Foundation Courses |
ECTS Credits | KIMEP Credits | Prerequisite | |
| Program Foundation Required Courses | 52 | 32 | ||
| BUS4251.1 | Internship Program I | 2 | 1 | 30 KIMEP credits completed |
| FIN4251.2
FIN4241.2 |
Internship Program in Finance II/ Cases in Finance (substitute) | 2 | 2 | 60 KIMEP credits and BUS4251.1 |
| ENG/GEN1100 | Academic Speaking | 5 | 3 | ENG 1110/
GEN1010 |
| ENG/GEN1121 | Academic Reading and Writing 2 | 5 | 3 | ENG 1120 |
| KAZ2103 or RUS2103 | Professional Kazakh (Russian) | 3 | 2 | None |
| FIN2105 | Business Microeconomics | 5 | 3 | None |
| FIN2106 | Business Macroeconomics | 5 | 3 | None |
| MGT3001 | Principles of Management | 5 | 3 | None |
| ACC2102 | Financial Accounting I | 5 | 3 | None |
| FIN3121 | Principles of Finance | 5 | 3 | ACC2102 |
| IFS2203 | Management Information Systems | 5 | 3 | GEN/OPM1300/ 2301 |
| MKT3130 | Principles of Marketing | 5 | 3 | None |
| Program Foundation Elective Courses | 60 | 36 | ||
| XXXX | Elective 1 | 5 | 3 | |
| XXXX | Elective 2 | 5 | 3 | |
| XXXX | Elective 3 | 5 | 3 | |
| XXXX | Elective 4 | 5 | 3 | |
| OPM3131 | Introduction to Operations Management | 5 | 3 | GEN2402 |
| GEN2402 | Business Statistical Analysis | 5 | 3 | MATH1202/
GEN1201 |
| ACC2201 | Management Accounting I | 5 | 3 | ACC 2102 |
| FIN3101 | Financial Institutions and Markets | 5 | 3 | FIN2106 |
| LAW2202 | Business Law | 5 | 3 | None |
| MGT4201 | Strategy and Business Policy | 5 | 3 | MGT3001, MKT3130, FIN3121, ACC2201 |
| OPM3011 | Decision Techniques and Tools | 5 | 3 | GEN1201/
MATH1202, FIN3121 |
| GEN1201 | Mathematics for Business and Economics | 5 | 3 | None |
| TOTAL | 112 | 68 | ||
Program Specialization Courses (36 KIMEP/ 60 ECTS Credits)
The Program Specialization component consists of two parts:
(1) Required Specialization Courses (27 KIMEP credits/ 45 ECTS) and
(2) Elective Specialization Courses (9 credits/ 15 ECTS).
The following table illustrates the requirements of the Program Specialization component of the program.
| Program Specialization Courses | ECTS Credits | KIMEP Credits | Prerequisite | |
| Program Specialization Required Courses | 45 | 27 | ||
| FIN 3200 | Ethics in finance | 5 | 3 | FIN3121, FIN3101 |
| FIN 3210 | Corporate finance | 5 | 3 | FIN3101, FIN3121 |
| FIN 3230 | Financial institutions management | 5 | 3 | FIN3101, FIN3121 |
| FIN 3220 | Investments | 5 | 3 | FIN3101, FIN3121 |
| FIN 4211 | Financial modeling | 5 | 3 | FIN3220 |
| FIN 4224 | Introduction to financial derivatives | 5 | 3 | FIN3101, FIN3121 |
| FIN 4235 | International financial management | 5 | 3 | FIN3101, FIN3121 |
| FIN4214 | Introduction to Financial Statement Analysis | 5 | 3 | FIN3101, FIN3121 |
| FIN4251.3 | Internship Program III | 5 | 3 | FIN4251.2
FIN4241.2 |
| Program Specialization Elective courses | 15 | 9 | ||
| FIN4250 | Personal and Entrepreneurial Finance | 5 | 3 | FIN3101, FIN3121 |
| FIN4232 | Risk Management | 5 | 3 | FIN4224 |
| FIN4212 | Mergers and Acquisitions | 5 | 3 | FIN3210 |
| FIN4220 | Real Estate Finance | 5 | 3 | FIN3101, FIN3121 |
| FIN4221 | Investment Banking | 5 | 3 | FIN3210 |
| FIN4225 | Fixed-Income Securities | 5 | 3 | FIN3220 |
| FIN4231 | Commercial Bank Management | 5 | 3 | FIN3101, FIN3121 |
| FIN4240 | Security Analysis and Portfolio Management | 5 | 3 | FIN3220 |
| FIN4241 | Case Studies in Finance | 5 | 3 | FIN3210, FIN3220, FIN3230 |
| FIN4242 | Selected Topics in Finance | 5 | 3 | FIN3210, FIN3220, FIN3230 |
| FIN4246 | Insurance | 5 | 3 | FIN3121, FIN3101 |
| FIN4247 | Financial Regulation and Supervision | 5 | 3 | FIN3121, FIN3101 |
| FIN4248 | Islamic Banking and Finance | 5 | 3 | FIN3121, FIN3101 |
| OPM3215 | Business Time Series Forecasting | 5 | 3 | GEN2402 |
| TOTAL | 60 | 36 | ||
Final Attestation (6 KIMEP credits/12 ECTS)
The Final Attestation component consists of the following three parts:
(1) Research Methods in Business Studies (3 KIMEP credits / 5 ECTS)
(2) State Examination (1 KIMEP credit / 3 ECTS)
(3) Thesis/ State Specialized Examinations (2 KIMEP credits / 4 ECTS)
| Final Attestation Courses | ECTS Credits | KIMEP Credits | Prerequisite | |
| BUS3300 | Research Methods in Business Studies | 5 | 3 | Completion of General Education and Program courses |
| FIN4277 | State examination | 3 | 1 | |
| FIN4275/
FIN4280/ FIN4290 |
Thesis/State examination (2) | 4 | 2 | |
| TOTAL | 12 | 6 | ||
MAJORS
Students have the opportunity to choose one of two majors:
(1) Corporate Finance and Investment Management
(2) Financial Institutions and Risk Management
Corporate Finance and Investment (36 KIMEP credits / 60 ECTS)
Corporate Finance deals with the management of financial resources of non-financial firms. It involves the planning, acquisition, and financing of resources for businesses. A student interested in corporate finance will learn how to allocate financial resources of the company. Investments is the study of alternative opportunities and the evaluation of an investment’s expected return and risk. The students will learn how to invest money in different investment instruments and manage investment assets and savings.
To gain major in Corporate Finance and Investment, students are required to complete the following courses:
| Course Code | Course Title | ECTS Credits | KIMEP Credits |
| All 9 Program Required Specialization Courses | 45 | 27 | |
| FIN4225 | Fixed-Income Securities | 5 | 3 |
| Any one course from: | |||
| FIN4212
FIN4221 |
Mergers and Acquisitions
Investment Banking |
5 | 3 |
| FINxxxx | Any 1 course from Program Elective Specialization courses | 5 | 3 |
| TOTAL | 60 | 36 | |
Financial Institutions and Risk Management (36 KIMEP credits / 60 ECTS)
Financial Institutions deal with the management of and functions performed by employees of financial companies like banks, investment companies and insurance firms. Risk Management deals with the identification, measurement, and management of different types of risk situations for businesses and individuals.
To gain major in Financial Institutions and Risk Management, students are required to complete the following courses:
| Course Code | Course
Title |
ECTS Credits | KIMEP Credits |
| All 9 Program Required Specialization Courses | 45 | 27 | |
| FIN4232 | Risk Management | 5 | 3 |
| Any one course from: | |||
| FIN4231
FIN4248 FIN4246 |
Commercial Bank Management
Islamic banking and Finance Insurance |
5 | 3 |
| FINXXX | Any 1 course from Program Elective Specialization Courses | 5 | 3 |
| TOTAL | 60 | 36 | |
MINORS
Minors for students of the Bang College of Business
Students are free to choose among different minors. They can also graduate without taking any minor. Graduating without a minor provides more flexibility in selecting elective courses because major requires students to take a particular set of courses.
To gain a minor the BCB students shall take particular courses for a total of 9 KIMEP credits/15 ECTS. A particular course cannot be counted towards both a specialization and a minor.
Table below lists the requirements for Minors for the BCB students.
| Minor Area | Code | Course Title | KIMEP Credits | ECTS Credits | Prerequisite |
| Accounting
(any 3 courses) |
ACC3101 | Financial Accounting II | 3 | 5 | ACC2102 |
| ACC3201 | Intermediate Financial Accounting I | 3 | 5 | ACC3101 | |
| ACC3202 | Intermediate Financial Accounting II | 3 | 5 | ACC3201 | |
| ACC3212 | Accounting Information Systems | 3 | 5 | ACC3101 | |
| ACC3110 | Management Accounting II | 3 | 5 | ACC2201 | |
| Finance | FIN3210 | Corporate Finance | 3 | 5 | FIN3121 |
| FIN3101 | |||||
| FIN3220 | Investments | 3 | 5 | FIN3121 | |
| FIN3101 | |||||
| FIN3230 | Financial Institutions Management | 3 | 5 | FIN3121 | |
| FIN3101 | |||||
| Information Systems in Business
(any 3 courses) |
IFS3202 | Database Management Systems in Business | 3 | 5 | GEN/OPM 1300 or GEN/OPM2301 |
| CIT1303 | Information Systems and Networking | 3 | 5 | GEN/OPM 1300 or GEN/OPM2301 | |
| CIT3745 | Information Security Management | 3 | 5 | GEN/OPM 1300 or GEN/OPM2301 | |
| IFS4204 | Decision Support System | 3 | 5 | GEN/OPM 1300 or GEN/OPM2301 | |
| Computer Applications | CIT2731 | Digital Graphics in Business | 3 | 5 | GEN/OPM 1300 or GEN/OPM2301 |
| IFS4204 | Decision Support System | 3 | 5 | GEN/OPM 1300 or GEN/OPM2301 | |
| CIT3734 | Web Technologies in Business | 3 | 5 | GEN/OPM 1300 or GEN/OPM2301 | |
| Management (any 3 courses) | MGT3206 | Leadership and Motivation | 3 | 5 | MGT3001 |
| MGT3208 | Innovation Management | 3 | 5 | MGT3001 | |
| MGT3210 | International Business | 3 | 5 | MGT3001 | |
| MGT3212 | Organizational Behavior | 3 | 5 | MGT3001 | |
| Leadership | LDP3201 | Leadership: Principles and Best Practices | 3 | 5 | MGT3001 |
| LDP4201 | Leadership: Making Principles Work | 3 | 5 | MGT3001 | |
| LDP4202 | Leadership in Action | 3 | 5 | LDP 3201 LDP4201 | |
| Human Resources Management | MGT3204 | Human Resource Management | 3 | 5 | MGT3001 |
| MGT4208 | Training and Development | 3 | 5 | MGT3204 | |
| MGT4210 | Compensation and Performance Management | 3 | 5 | MGT3204 | |
| Entrepreneurship | MGT3211 | Principles of Entrepreneurship | 3 | 5 | MGT3001 |
| MGT3216 | Business Model Innovation | 3 | 5 | MGT3211 | |
| MGT3217 | Building and Accelerating the Venture | 3 | 5 | MGT3211 | |
| Marketing (MKT3150 and any 2 other courses) | MKT3150 | Strategic Marketing | 3 | 5 | MKT3130 |
| MKT3201 | Consumer Behavior | 3 | 5 | MKT3150 | |
| MKT3202 | Marketing Communications | 3 | 5 | MKT3130 | |
| MKT3214 | Brand Management | 3 | 5 | MKT3150 | |
| MKT4203 | Marketing Research | 3 | 5 | MKT3150 | |
| Tourism and Hospitality Management | MKT3222 | Cross Cultural Tourism Marketing | 3 | 5 | MKT3130 |
| MKT3221 | Tourism Practices and Principles | 3 | 5 | MKT3130 | |
| MGT3215 | Hospitality Management | 3 | 5 | MGT3001 |
MERIT CERTIFICATES
In order to be eligible for the merit certificates under each Bachelor program, a student must:
- Take a set of three courses, offered by the BCB undergraduate programs, in a respective area.
- Meet exit criteria of a minimum overall GPA 4.00 in all courses required for a respective certificate.
III. All prerequisites must be met (waive of prerequisites, concurrent registration, CSS courses as equivalence of BCB courses are NOT allowed).
Merit Certificate in Auditing (9 credits / 15 ECTS)
| Required courses: | |
| ACC4203 | Auditing |
| ACC4209 | Fraud Examination |
| ACC4216 | Professional Auditing |
Merit Certificate in Taxation (9 credits / 15 ECTS)
| Required courses: | |
| ACC3205 | Principles of Taxation |
| ACC3210 | Taxation in Kazakhstan |
| ACC4240 | Taxation of Multinational Enterprises |
Merit Certificate in Corporate Finance and Investment Management (9 credits / 15 ECTS)
| Required courses: | |
| FIN4224 | International Financial Management |
| FIN4212 | Mergers and Acquisitions |
| FIN4221 | Investment Banking |
Merit Certificate in Financial Institutions and Risk Management (9 credits / 15 ECTS)
| Required courses: | |
| FIN3230 | Financial Institutions Management |
| FIN4224 | Introduction to Financial Derivatives |
| FIN4232 | Risk Management |
Merit Certificate in Marketing Communications and Branding (9 credits / 15 ECTS)
| Required courses: | |
| MKT3202 | Marketing Communications |
| MKT3201 | Consumer Behavior |
| MKT3214 | Brand Management |
Merit Certificate in Tourism and Hospitality Management (9 credits / 15 ECTS)
| Required courses: | |
| MKT3221 | Tourism Practices and Principles |
| MGT3215 | Hospitality Management |
| MKT3222 | Cross-Cultural Tourism Marketing |
CERTIFICATE IN LEADERSHIP
The purpose of the Leadership Development Program is to help KIMEP students develop the necessary skills to assume key positions in Kazakhstani business and government. It focuses on the practical application of leadership skills, ending in a supervised internship. Those students who fulfill all Program requirements listed below receive a Certificate in Leadership.
Certificate in Leadership (9 credits / 15 ECTS)
| Required courses: | |
| LDP3201 | Leadership: Principles and Best Practices |
| LDP4201 | Leadership: Making Principles Work |
| LDP4202 | Leadership in Action |
FIN2105 Business Microeconomics (3 Credits; 5 ECTS)
Prerequisites: None
This is an introduction to microeconomic concepts and techniques (mathematical and statistical) that are useful for business decision-making. The course begins by examining markets -the interaction of demand and supply. It examines the determinants of demand, and the cost structures that underlie supply. It also looks at the dynamic process of price adjustment. Next, various models of profit maximization are developed, under different competitive assumptions. Finally, the course looks at strategic problems. While there is no prerequisite for this course, the course moves quickly and develops an intermediate level of microeconomic theory.
FIN2106 Business Macroeconomics (3 Credits; 5 ECTS)
Prerequisites: None
This is an introduction to macroeconomic concepts and techniques (mathematical and statistical) that are useful for business decision-making. The course begins by developing Keynesian models of income determination and multiplier effects. It moves quickly to the interaction of real and financial markets, and the process of income determination and money creation. Emphasis is placed on predicting the impacts of fiscal and monetary policy. Students will develop a computer simulation, and use the computer model to analyze policy variables. Finally, the course introduces models of the open economy, and provides basic techniques for determination of spot and forward exchange rates.
FIN3101 Financial Institutions and Markets (3 Credits; 5 ECTS)
Prerequisites: FIN2106 Business Macroeconomics
The course introduces topics such as the functions, organization, structure and regulation of financial institutions and markets. Students also study the role and operations of financial markets and institutions in the economy, supply and demand for funds, interest rate determination, monetary and fiscal policy, and flow of funds analysis. In addition, the course analyzes basics of financial policies and operations of commercial banks and other financial institutions as well as an overview of the globalization of financial markets and institutions.
FIN3121 Principles of Finance (3 Credits; 5 ECTS)
Prerequisites: ACC2102 Financial Accounting I
This is an introductory course to the field of finance with a broad scope and emphasis on general principles. The objective of the course is to introduce basic tools and techniques essential in understanding major theories of Finance and making financial decisions. Students will learn basics of financial system, time value of money and discounting, financial performance analysis, basics of capital budgeting, basics of stock and bond valuation, and introduction to corporate finance.
FIN3200 Ethics in Finance (3 Credits ; 5 ECTS)
Prerequisites: FIN3121 Principles of Finance, FIN3101 Financial Institutions and Markets
This 2-credit course will examine issues in ethics that arise from a financial context. We will begin with ethical theories such as Kantianism, Utilitarianism, Virtue Ethics, Care Ethics, and Contract theory. We will then explore contemporary issues involving Corporate Governance, Corporate Social Responsibility, Corporate Sustainability, Socially Responsible Investing and share holder activism, and Stakeholder Theory. The course will examine in detail major cases of financial fraud, e.g. Mad off, Enron, BTA Bank. Finally, students will prepare and present a business case in Kazakhstan dealing with financial ethics. Course materials will consist of articles, research articles, business cases and notes, and The Code of Ethics and Standards of Professional Conduct of the CFA Institute.
FIN3210 Corporate Finance (3 Credits; 5 ECTS)
Prerequisites: FIN3101 Financial Institutions and Markets, FIN3121 Principles of Finance
This is an intermediate business financial management course, combining theory and applications. The course focuses on detailed look at capital budgeting methods including Net Present Value and Internal Rate of Return, capital budgeting under uncertainty, risk and return analysis, financial planning and forecasting, dividend policy, capital structure policy, working capital policy, and interactions of investment and financing decisions.
FIN3220 Investments (3 Credits; 5 ECTS)
Prerequisites: FIN3101 Financial Institutions and Markets, FIN3121 Principles of Finance
This course introduces the foundations of portfolio theory, asset pricing, trading and valuing securities as well as provides frameworks for investment analysis of various financial instruments. The course begins with an introduction of the modern portfolio theory and then turns to asset valuation based on the capital asset pricing model and arbitrage pricing theory. The two subsequent areas of study are valuation and analysis of fixed income instruments and stocks. Overall, this course represents the minimal financial theory and necessary practical tools with which an undergraduate student majoring in finance should be able to make meaningful investment decisions and be prepared for advanced courses in investment management.
FIN3230 Financial Institutions Management (3 Credits; 5 ECTS)
Prerequisites: FIN3101 Financial Institutions and Markets, FIN3121 Principles of Finance
The course provides an analysis of the role of private financial intermediaries in providing financial services to the public with a focus on the latest techniques of asset/liability and risk management in modern day financial institutions. Other topics include the impact of recent regulations and the breakdown of geographic barriers worldwide on the risks and opportunities to financial institutions. The impact of ethical, technological and diversity issues affecting managerial decision making in financial intermediation is also discussed.
FIN4211 Financial Modeling (3 Credits; 5 ECTS)
Prerequisites: FIN3220 Investments
This course will involve using spreadsheets to model financial transactions, perform valuations, and solve complex financial problems from all areas of finance (equity, debt, and their derivatives). It will also involve the use of financial functions and formulas, macros, and new programming in various financial applications. Intermediate knowledge of any electronic spreadsheet (Microsoft Excel, Lotus, etc.) is required.
FIN4212 Mergers and Acquisitions (3 Credits; 5 ECTS)
Prerequisites: FIN3210 Corporate Finance
The course provides the key financial sources and instruments used for mergers and acquisitions (M&A) deals; how to select the most appropriate type of financing – debt, equity, or a combination of the two; financing via debt, bonds, and leases, and ways to borrow or lend; tactics considered in contracts, including contingent payments, earn-outs, and equity kickers; how to determine when refinancing is necessary; how volatile global events can affect economic systems and M&A financing and refinancing; debt/equity hybrids and other financing methods.
FIN4214 Introduction to Financial Statement Analysis (3 Credits; 5 ECTS)
Prerequisites: FIN3101 Financial Institutions and Markets, FIN3121 Principles of Finance
The course objective is to teach students to accurately read and analyze financial statements of various companies in a variety of industries. It examines the uses and misuses of financial statement data for a wide range of financing decisions. The course analyzes various reporting options that affect income, assets, cash flow forecasts, financial ratios, and trends; distinguishes between accounting rules and underlying economic realities; and examines approaches that analysts can take when external reports do not reflect a firm’s underlying economics. The course focuses on the pragmatic implications of corporate disclosures and nondisclosures.
FIN4220 Real Estate Finance (3 Credits; 5 ECTS)
Prerequisites: FIN3101 Financial Institutions and Markets, FIN3121 Principles of Finance
This course provides a broad introduction to real estate finance. Project evaluation, financing strategies, and capital markets issues related to real estate are covered. Other topics include real estate law, government regulations of real estate uses, development and marketing of commercial and residential real estate.
FIN4221 Investment Banking (3 Credits; 5 ECTS)
Prerequisites: FIN3210 Corporate Finance
The course provides a study of investment banking activities, including their regulatory, institutional and market environments, with extensive reference to the global marketplace. Students will learn the analysis of the main investment banking services with emphasis on the mechanics and economics of the issuance process. Analysis of the market for new issues and appraisal of their spread and price performance will be provided. Consideration of ethical, technological and diversity issues in investment banking operations will be made.
FIN4224 Introduction to Financial Derivatives (3 Credits; 5 ECTS)
Prerequisites: FIN3101 Financial Institutions and Markets, FIN3121 Principles of Finance
This course offers an introduction to derivative markets. A derivative is an instrument whose value depends on the values of other more basic underlying variables. This course focuses on financial derivatives. Emphasis is placed on organization and role of put and call options markets, futures and forward markets, swaps markets, and their interrelations. Major topics include arbitrage relations, valuation, hedging and speculating with derivatives and implementation of derivatives trading strategies.
FIN4225 Fixed-Income Securities (3 Credits; 5 ECTS)
Prerequisites: FIN3220 Investments
The course provides in-depth coverage, analysis, and guidance on analysis and management of fixed-income securities. Topics include types and features of fixed income securities; risks and risk control strategies; mortgage- backed and asset-backed securities; bond market indexes; bonds with embedded options; floating rate securities; municipal bonds; fixed-income portfolio management; treasury securities; inflation-indexed bonds; and interest rate derivatives and their applications.
FIN4231 Commercial Bank Management (3 Credits; 5 ECTS)
Prerequisites: FIN3101 Financial Institutions and Markets, FIN3121 Principles of Finance
The course aims on understanding the field of banking from the perspectives of both a bank customer as well as a bank manager. Topics include introduction to the business of banking; asset-liability management techniques and hedging against interest rate and credit risk; managing the bank’s investment portfolio and liquidity position; managing bank sources of funds; providing loans to businesses and consumers; the bank’s organizational structure and service options; and developing a channel for future growth and expansion.
FIN4232 Risk Management (3 Credits; 5 ECTS)
Prerequisites: FIN4224 Introduction to Financial Derivatives
The course provides comprehensive analyses and insights in risk management including: overview of risk management -from the history of risk management to the new regulatory and trading environment; a look at past and present risk management; risk management program designs; techniques to organize the risk management function; develop a system to cover organizations exposures; and risk management implementation including the use of the myriad systems to derive value at risk (VaR), stress-testing, and derivatives for measuring and hedging risk in today’s marketplace.
FIN4235 International Financial Management (3 Credits; 5 ECTS)
Prerequisites: FIN3101 Financial Institutions and Markets, FIN3121 Principles of Finance
This course covers principles and applications of managerial finance in an international context. Particular emphasis is placed on financial management of multinational business. Major topics include analysis of opportunities, risks and problems unique to businesses involved in multinational operations, international financial environment, international sources and uses of funds, foreign exchange risk management, and managing international assets, liabilities, and securities.
FIN4240 Security Analysis and Portfolio Management (3 Credits; 5 ECTS)
Prerequisites: FIN3220 Investments
This is an advanced investment course designed to expand knowledge acquired in the introductory investment course. The course provides thorough analysis of security valuation techniques and systematic portfolio management. The topics include the processes and principles of financial valuation, valuation models and components, valuation of debt, equity and other securities, portfolio construction and analysis, strategic management of various classes of assets, and portfolio applications and portfolio evaluation.
FIN4241 Case Studies in Finance (3 Credits; 5 ECTS)
Prerequisites: FIN3210 Corporate Finance, FIN3220 Investments, FIN3230 Financial Institutions Management and 90 credits completed
The course offers various advanced case studies on practical problems in planning, procuring, and maintaining optimum distribution and utilization of financial resources of business entities. Topics of case studies will vary depending on the interests of students, and the course instructor.
FIN4242 Selected Topics in Finance (3 Credits; 5 ECTS)
Prerequisite: FIN3210 Corporate Finance, FIN3220 Investments, FIN3230 Financial Institutions Management
The course examines particular issues and contemporary subject areas in Finance at an advanced level. Selection of topics depends on students and instructors preferences.
FIN4246 Insurance (3 Credits; 5 ECTS)
Prerequisites: FIN3121 Principles of Finance, FIN3101 Financial Institutions and Markets
This course explores the principles of risk management and insurance. The course provides an understanding of the foundations, applications and selection of insurance. Fundamentals of life and health insurance as well as property and liability insurance will be included. Enterprise risk management for corporations, financial risk management, overview of employee benefits, and strategic policies to mitigate risk will also be covered. The student will also learn insurance relations, rules and regulation in Kazakhstan in this course.
FIN4247 Financial Regulations and Supervision (3 Credits; 5 ECTS)
Prerequisites: FIN3101 Financial Institutions and Markets, FIN3121 Principles of Finance
Financial regulation and supervision course focuses on the public regulation of the financial markets and financial intermediaries – topics of high relevance in today’s environment of ongoing transformation of the way financial markets are regulated. The course aims to develop students’ understanding of theory and practice of regulation and supervision of financial markets. After introducing the general principles of effective regulation and supervision of financial markets and institutions, the course is broadly split into three main parts focusing on the following key areas: Regulation of securities markets, Regulation and supervision of financial institutions and financial regulation and supervision in Kazakhstan.
FIN4248 Islamic Banking and Finance (3 Credits; 5 ECTS)
Prerequisites: FIN3101 Financial Institutions and Markets, FIN3121 Principles of Finance
The ongoing turbulence and crises in the modern financial system has drawn attention towards an alternative system of financial intermediation, Islamic banking and finance. The objective of this course is to introduce students to the alternative banking practices and financial market operations which are based on the Shari’ah principles. Major topics include the fundamental Muslim beliefs, Shari’ah objectives, sources of Shari’ah rules and role of Shari’ah boards in supervision of banking and financial market practices, difference between conventional and Islamic banking, prohibition of riba and rationale of Islamic banking, key principles of Islamic banking and investment, the basic Shari’ah rules for economic and financial transactions, conventional and Islamic modes of financing: murabaha, mudaraba, musharaka, ijara, istisna’a and salam, the problems of moral hazards and adverse selection in Islamic finance and conventional versus Islamic (Takaful) insurance.
FIN4250 Personal and Entrepreneurial Finance (3 Credits; 5 ECTS)
Prerequisites: FIN3101 Financial Institutions and Markets, FIN3121 Principles of Finance
This course focuses on the analysis of the problems involved in efficient handling of personal finance. Also, an opportunity to run a business is deeply explored during the course. Topics include: time value calculations, budgeting, career planning, banking, insurance, home buying, consumer credits and money management, investment planning, retirement planning, and estate planning. Besides that, the course focuses on efficient business planning. The course is useful and interesting for those whose major specialization is finance as well as for those who do not major in finance.
FIN4275 Thesis (2 Credits; 4 ECTS )
Prerequisites: completion of the General Education and Program courses
A thesis is a research work on a topic that is in the area of Finance. Students will be supervised by faculty members in the process. Further details on thesis requirements are provided under the KIMEP University regulations on this matter.
FIN4277 State Examination (1 Credit; 3 ECTS)
Prerequisites: completion of the General Education and Program courses
Students are required to take the state examination in Finance. Further details on this requirement are provided under the KIMEP University regulations on this matter.
FIN4280/FIN4290 State Specialized Examinations (2 credits; 4 ECTS)
Prerequisites: completion of the General Education and Program courses
Students can take state specialized examinations under certain conditions. Further details on this requirement are provided under the KIMEP University regulations on this matter.
FIN4251.2 Internship Program in Finance II (2 Credits; 2 ECTS)
Prerequisites:70 KIMEP credits and BUS4251.1 Internship Program I
Familiarization with the organizational structure of the internship host-organization, with the area of its activities; learning mode of operation of the organization; learning the organizational documents of the organization; acquiring the skills of collecting and processing of primary information in the field of finance; carrying out a comparative analysis of the organization; identifying gaps and suggesting the ways to improve the development of the organization.
FIN4241.2 Case Studies in Finance (substitute) (2 Credits; 2 ECTS)
Prerequisites: BUS4251.1 Internship Program I and 70 credits completed
The course offers various advanced case studies on practical problems in planning, procuring, and maintaining optimum distribution and utilization of financial resources of business entities. Topics of case studies will vary depending on the interests of students, and the course instructor.
FIN4251.3 Internship Program in Finance III (3 Credits; 5 ECTS)
Prerequisites: FIN4251.2 Internship Program in Finance II or FIN4241.2 Case Studies in Finance (substitute)
The consolidation and intensification of theoretical knowledge and skills acquired by students through the process of theoretical learning; the formation of professional competence; the familiarization with real industrial, technological, and organizational processes going on at the place of internship; the mastering of the profession’s basics in the operational sphere: the familiarization with and acquirement of the methodology and technology of professional problem-solving; the collection of the necessary for the preparation and compilation of the internship report materials. Bases of internship are organizations related to careers in Finance.
Scholarship opportunities
There are many opportunities for merit-based scholarships for Kazakhstani and international students.
While studying at KIMEP University, students may also apply for part-time positions available on the University campus.
Contact the Office of Financial Aid, if you would like to apply for scholarship.
Tuition & Fees
Jay Hoyoung Lee, Ph.D. in Business Administration
Dean of the Bang College of Business
Associate Professor of Marketing, Department of Management and Marketing/Bang College of Business
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Research and Publications:
A Study on Customer Churn Prediction Model for Customer Relationship Management by Life Insurers, Journal of Korean Insurance Academic Society, 2006
Mira Nurmakhanova, Ph.D.
Chair of Accounting and Finance departments
Associate Professor, Finance area
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| Name | Mira Nurmakhanova |
| Position | Associate Professor of Finance, Associate Dean of Undergraduate Program |
| Email address | miranur@kimep.kz |
| Education background | PhD. Iowa State University, USA
MA KIMEP University, Kazakhstan BSc. Kazakh National University, Kazakhstan |
| Overview | Professor Nurmakhanova’s primary research interest focuses on studying the influence of oil prices on macroeconomic performance of the country. Specifically, she examines the effect of oil prices on the economic growth, real exchange rate, stock market, inflation rate, etc. Another research interest is related to performance of microfinance institutions: extend of trade-off between financial sustainability and outreach of MFIs, effect of regulation on performance of microfinance institutions. Third research interest is related to stability of banking sector. Specifically, she examines the effect of bank market power on both the credit risk-taking attitude of Kazakhstani banks and overall stability of banks. |
| Research Interests | · The Effect of Regulation on Performance of Microfinance Institutions: effect of regulation on MFIs performance. When evaluating the impact of regulation following questions are of primary interest: (1) what is the effect of regulation on performance of actually regulated MFI? and (2) what is the effect of regulation on performance of MFIs that opt for regulation once they start taking deposits? In a new contribution to existing literature, our results show the impacts of regulation on performance of actually regulated MFIs and MFIs that opt for regulation once they start taking deposits.
· Stability of banking sector: effect of bank market power on both the credit risk-taking attitude of Kazakhstani banks and overall stability of banks. · Effect of oil prices: effect of oil prices on the economic growth, real exchange rate, stock market, inflation rate, etc. |
| Selected Publications | Articles
· Katenova, M., M. Nurmakhanova. 2017. “Financial Development and Economic Growth: The Case of Kazakhstan”. International Review of Business Research Papers. Vol. 13. No. 1, 151 – 160. · Nurmakhanova, M., G. Kretzschmar, H. Fedhilla. 2015. “Trade-off between Financial Sustainability and Outreach of Microfinance Institutions”. Eurasian Economic Review, Vol. 5, 231-250. · Nurmakhanova M., O. Pak. 2013. “The Effect of Market Power on Bank Credit Risk-Taking and Bank Stability in Kazakhstan”, Transition Studies Review, Vol. 20, 335-350. · Nurmakhanova M., O. Pak. 2013. “Bank market power and credit risk-taking in Kazakhstan”, Economics: strategy and practice, Vol. 4, p. 73-85.
Conference Papers
· 1st International Conference on Energy, Finance and the Macroeconomy. November 22-24, 2017, Montpellier, France. “The Effect of Regulation on Performance of Microfinance Institutions: Evidence from Cross Countries”. · Sixth Regional Conference of the Central Eurasian Studies Society (CESS). June-July 2017, Bishkek, Kyrgyzstan, “Oil and Growth Challenge in Kazakhstan”. · Eurasian Business and Economics Society, EBES 2017, May 2017, Rome, Italy. “Oil prices and stock market in Kazakhstan”. · Euro-Asia Forum in Politics, Economics and Business, July 2016, Belgrade, Serbia. “Oil and Growth Challenge in Kazakhstan”. · The Economics Education and Research Consortium (EERC) 40-th Research workshop, May 2016, Kiyv. “Oil and Growth Challenge in Kazakhstan”. · The Economics Education and Research Consortium (EERC) 39-th Research workshop, December 2015, Kiyv. “Oil and Growth Challenge in Kazakhstan”. · The Economics Education and Research Consortium (EERC) 37-th Research workshop, December 2014, Kiyv. “Oil and Growth Challenge in Kazakhstan”. · The Economics Education and Research Consortium (EERC) 36-th Research workshop, June-July 2014, Kiyv. “Oil and Growth Challenge in Kazakhstan”. · Portuguese Finance Network, PFN 2014, Algarve University, June 2014, Faro, Portugal. “The Effect of Regulation on Performance of Microfinance Institutions”. · The Rimini Conference in Economics and Finance, RCEF-2014, Rimini Centre for Economic Analysis Rimini, June 2014, Italy. “Oil Prices, Exchange Rates and Stock Market in Kazakhstan”. · Eurasian Business and Economics Society, EBES 2014, Bilim University, Istanbul, June 2014, Turkey. “Financial Loss Distribution Behaviour Associated with MFI Outreach Financing”. · ESNIE 2014, Dauphine University, Paris, May 2014, France. “The Effect of Regulation on Performance of Microfinance Institutions”. · Rimini Bayesian Workshop, University of Bologna, Rimini Campus, June 2013, Italy. “Financial Loss Distribution Behaviour Associated with MFI Outreach Financing”. · Research seminar, Dublin Institute of Technology, November 2012, Dublin, Ireland. “The impact of bank market power on bank credit risk-taking and stability in Kazakhstan”. · Business and Social Science Research Conference, January 2011, Dubai. “Kazakhstan- the real currency and growth challenge for commodity producing countries”. · 4th workshop of Centre for Advanced Studies in Economics and Econometrics, June 2010, Faro, Portugal. “Effect of Oil Prices on Macroeconomic Performance of the Country”. · AAEA meeting, July 2008, Orlando, USA. “Timing of Fertilizer Applications: Environmental Implications”. · AAEA meeting, July 2006, Los Angeles, USA.”Effect of Crop Choice on Split Fertilizer Application”. |
| Teaching | Current Courses Taught
· Business Microeconomics · Business Macroeconomics · Principles of Finance |
| Grants/Fellowships | · Principal investigator (2013), research grant sponsored by the Economic Education and Research Consortium, EERC, entitled by “Oil and Growth Challenge in Kazakhstan”.
· Career Integration Fellowship (CIF) (2014) CERGE-EI Teaching Fellows program |
| Awards | · Teaching Excellence Award, KIMEP, 2015 and 2018
· Paper titled “Kazakhstan – The Real Currency and Growth Challenge for Commodity Producing Countries” was presented on a Business and Social Science Research Conference in Dubai in January 2011 and won a Best Paper Award. |
Muhammad Arslan, Ph.D.
Assistant Professor, Finance area
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Position: Assistant Professor of Finance
Educational Background:
Ph.D. in Accounting and Finance (New Zealand)
MPhil in Accounting and Finance (Pakistan)
Bio:
Dr. Muhammad Arslan joined the Bang College of Business (BCB) as Assistant Professor of Finance. Before joining KIMEP, he worked at Lincoln University and New Zealand tertiary institute(s) where he taught accounting and finance courses. He completed his Ph.D. in Accounting and Finance from Lincoln University, New Zealand. His doctoral thesis explored the institutional determinants of good corporate governance (CG) practices in emerging market(s) and investigated their link with CG compliance and firm performance by using exploratory sequential research design. Dr. Arslan has four years of teaching experience along with industry and administrative experience.
Dr. Arslan has presented his research work at both national and international conferences such as New Zealand Finance Colloquium (NZFC), International Conference of the Journal of International Accounting Research (JIAR), International Corporate Governance Society (ICGS), AOM specialized conference(s), and International Conference of Corporate Governance, Ownership and Control and has published several articles in international peer-reviewed journals. So far, he has authored two book chapters. He is also serving as Editorial Board Member and Reviewer at different journals such as Cogent Economics and Finance, Journal of Financial Economic Policy, Management Decision, Heliyon, and Journal of Family Business Management among others. He can be contacted for student supervision and other research/academic collaborations at m.arslan@kimep.kz
Research Interests:
Corporate Governance
Behavioral Finance
Financial Reporting Quality
Auditing
Corporate Social Responsibility
Teaching:
Principles of Finance
Corporate Finance
International Financial Management
Advance Corporate Finance
Portfolio Management and Behavioral Finance
Advance Financial Management
Quantitative Methods
Grants:
1- Financial support of CAD 1400 was provided by University of Quebec for presenting a paper at the Seventh International Conference of the Journal of International Accounting Research to be held on June 27-29, Saguenay, Quebec, Canada
2- Got NZD 5000 Summer Scholarship 2018 from Lincoln University, New Zealand.
3- Financial support of USD 1000 was provided by Geneen Institute of Bentley University for presenting two papers at the 4th ICGS Annual Conference Navigating Corporate Governance in Emerging Markets in Shanghai, China.
4- Financial support of NZD 2500 was provided by Lincoln University for presenting a paper at the International Conference of Corporate Governance, Ownership, and Control in Rome, Italy.
5-Partial Travel grant was offered by Rikkyo College of Business for attending a workshop on Strategic Management of Workforce Diversity in Tokyo, Japan but not availed.
Awards:
- Dean’s Award for Exceptional Ph.D. Thesis, Lincoln University New Zealand (2019)
- Received 2019 Emerald Literati Award “Highly Commended Paper” for the article “Organizational cynicism and employee performance: Moderating role of employee engagement” published in Journal of Global Responsibility
Alimshan Faizulayev, Ph.D.
Assistant Professor, Finance area
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Educational Background and Bio:
Dr. Alimshan Faizulayev completed his Ph.D in Finance in Eastern Mediterranean University (N.Cyprus). His research mainly based on Banking, Islamic banking, Investment, Energy Conservation, Corporate Finance. Previously he was teaching financial accounting at American Hotel & Lodging Educational Institute (AHLEI -USA), and in Banking and Finance department of Eastern Mediterranean University (N.Cyprus). Also, Dr. Alimshan has been working as Investment Consultant in Dovec Group of Companies (N.Cyprus) since 2017.
Alma Sharipova, Ph.D. in Financial Economics
Assistant Professor in Banking and Finance
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| Name | Alma Sharipova |
| Position | Assistant Professor in Banking and Finance |
| Contact detail | a.sharipova@kimep.kz, ext: 2036 |
| Education background | PhD (Banking and Finance), Middlesex University Business School, UK
MSc (Research Methods for Business and Management), Middlesex University Business School, UK MA (Central Banking), Hochschule für Technik und Wirtschaft Berlin, Germany |
| Overview | Professor Alma Sharipova’s research interests are in the area of financial institutions and markets as they relate to financial systems stability. Specifically this includes empirical research on the role of central banking in promoting long-term financial institutions and markets sustainability.
Professor Alma Sharipova has a Doctorate in finance, economics and equivalent experience. She has a demonstrated track record in writing papers for publication. Professor Alma Sharipova’s paper was published in top ranked peer-reviewed Journal of International Financial Markets, Institutions & Money. She has presented her different research papers at scientific conferences. She worked at prestigious higher education institutions in the UK. She worked as a teaching fellow at the SOAS University of London, Economics Department, and at the University College London, School of Public Policy, University of London. Besides, she has skills of practical use of financial packages such as FAME/ Bankscope, DataStream and Bloomberg. |
| Research Interests |
· Bank stability and competition · Financial system fragility · Regulation and central banking · Banking in Eastern European countries and the CISs
|
| Selected Publications | Articles (In English)
· Sharipova, A. 2018. Bank Competition and Stability in the CISs Markets. Journal of International Financial Markets, Institutions & Money, 54C, pp. 190-203 · Sharipova, A. 2018. Cost and Profit Efficiency and Financial Integration in the CIS Countries (to be submitted to the REF-related journal)
Conference Papers
· Bank Competition and Stability in the CIS markets Paper presented at the 4th European Conference on Banking and the Economy (ECOBATE 2016) Winchester, UK · Cost and profit efficiency and financial integration in the CISs Paper presented at 4th Global Conference on Economic Geography Oxford University, UK · Technical Efficiency of the CISs Banks Paper presentation at Research Summer Conference 2015 Middlesex University, London, UK
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| Teaching | Current Courses Taught
· Financial Institutions and Markets · Financial Institutions Management · Managerial Economics · Macroeconomics
Courses Taught at School of Oriental and African Studies (SOAS), University of London · Banking and Finance
Courses Taught at University College London (UCL), University of London · Public policy, · Economics and Analysis
Courses Taught at Middlesex University Business School (London, UK) · Financial institutions · Economics
|
| Awards | Fully funded PhD in Financial Economics in January 2016 for 4 years. Middlesex University business School, London UK. The fund was given for studying banking sector stability, efficiency and competition in the former Soviet countries. |
Balzhan Zhussupova, Ph.D.
Assistant Professor, Department of Accounting and Finance
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| Name | Balzhan Zhussupova |
| Position | Assistant Professor, Department of Accounting and Finance |
| Contact details | b.zhussupova@kimep.kz, tel. ex: 2021 |
| Education background | PhD (studies on banking), Bangor University, Wales, UK MBA (Banking and Finance), University of Wales, UK |
| Certifications | Certified Internal Auditor (the Institute of Internal Auditors, US) Certified Fraud Examiner (American Association of Certified Fraud Examiners, US) |
| Overview | Professor Balzhan Zhussupova is a business practitioner teaching different courses in finance and accounting. She worked in financial institutions in macroeconomic research, credit analysis and internal audit function. Her current research interest focuses on studying the rationale for mandatory auditor rotation in banking industry. Another research area is the quality of financial disclosure and corporate governance characteristics in developing countries. |
| Research Interests | Corporate frauds, auditing, banking, corporate governance and disclosure quality |
| Teaching interests | – Auditing – Fraud examination – Financial institutions management/Bank management |
| Book chapter | Altunbas Y., D. Marques-Ibanez and B. Zhussupova (2008). Capital market frictions and bank lending in the EU, in Frontiers of Banks in a Global Economy, Palgrave Macmillan. P. Molyneux and E. Vallelado (eds). |
Olga Pak, PRM, DBA, Ph.D.
Assistant Professor, Finance area
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| Name | Olga Pak |
| Position | Assistant Professor of Finance, Bang College of Business |
| Contact detail | olgapak@kimep.kz, +7(727) 2704360 ext. 2057 |
| Education background | Ph.D. (Economics), Kyushu University, Japan DBA (Finance), KIMEP University, Kazakhstan PRM (Professionally certified risk manager), Professional Risk Manager’s International Association, USA MBA (International Banking and Finance), University of Birmingham, United Kingdom BSc (Credit and Finance), NARXOZ University, Kazakhstan |
| Overview | Olga Pak has experience in the banking industry and expertise in financial risks’ measurement and management. She conducted the series of professional trainings such as “Basel 2 and 2.5 capital standards for commercial banks”, “Futures and options as instruments to hedge price risk”, PRM preparatory courses. In 2010, Olga Pak was a visiting faculty at the business school of the University of Pittsburgh (USA).
Olga’s primary research interests focus on banking performance and stability in the light of ongoing integration processes and introduction of Basel III micro and macro-prudential regulation the countries of the Eurasian region. |
| Research Interests | Financial integration
Micro and macro – prudential regulation of the banking sector in the EAEU Banking performance and stability |
| Selected Publications | Articles:
Pak. O., Iwata, K. 2019b. A Path to Financial Integration: Steps for the Eurasian Economic Union. Asia Europe Journal, https://doi.org/10.1007/s10308-018-00531-1
Pak. O. 2019a. The Impact of State Ownership and Business Models on Bank Stability: Empirical Evidence from the Eurasian Economic Union. The Quarterly Review of Economics and Finance, 71, 161-175.
Pak, O. 2018. Business Drivers of Bank Stability in Kazakhstan. Review of Integrative Business and Economics, Volume 7 (1). RIBER Best Paper Prize.
Pak, O., Kretzschmar, G. 2016. Western Sanctions – Only Half the Challenge for Russia’s Economic Union. Research in International Business and Finance, 38, 577 – 592.
Pak O., Mahmood, M. 2015. Impact of Personality on Risk Tolerance and Investment Decisions: A Study on Potential Investors of Kazakhstan. International Journal of Commerce and Management, 25 (4), 370 – 384.
Pak, O., Nurmakhanova, M. 2013. The Effect of Market Power on Bank Credit Risk-Taking and Bank Stability in Kazakhstan. Transition Studies Review, 20 (3), 335-350.
Bhatti, R., Pak, O. 2013. Stock Return and Inflation in Kazakhstan, Russia and Ukraine. International Journal of Economics and Finance Studies, 5(1), 258-270.
Pak, O. 2013. What Factors Drive Bank Stock Returns in Kazakhstan? Central Asia Business Journal, 5 (1), 32-40.
Pak, O. 2011. From Traditional Lectures to Active Learning: How to Increase the Effectiveness of Lectures. Published in the proceedings of the seminar “Teaching Excellence” sponsored by the Bureau of Educational and Cultural Affairs of the US Department of State, Almaty: Evero, pp. 30-48, in Russian. Conference presentations: “Systemically important banks in Russia, Kazakhstan and Belarus”. 16th KIMEP International Research Conference (KIRC), Almaty, Kazakhstan, April 2019. “The Net stable funding ratio: Analysis and issues”. 15th KIMEP International Research Conference (KIRC), Almaty, Kazakhstan, April 2018. “Business drivers of bank stability in Kazakhstan”. Society of Interdisciplinary Business Research, Osaka, Japan, July 2017. “Comparative analysis of banking structures in the EU and EAEU”. EUSA Asia-Pacific conference & Postgraduate Workshop, Tokyo, Japan, July 2017. “Western sanctions – only half the challenge for Russia’s Economic Union”, with G. Kretzschmar. Kazakh-British Technical University Conference, Almaty, Kazakhstan, April 2016. “Specific determinants of bank capital in Kazakhstan”. 12th KIMEP International Research Conference (KIRC), Almaty, Kazakhstan, April 2015. “Market power and credit risk-taking in the Kazakhstani banking sector”, with M. Nurmakhanova. Round table “Misbalances and reforms in the global financial system”, Institute of Economics under the Ministry of Education of RK, Almaty, Kazakhstan, November 2013. “Stock return and inflation in Kazakhstan, Russia and Ukraine”, with R. Bhatti. 3d International Conference on Economics and Finance (ICEF), Izmir, Turkey, April 2013. “Personality, risk perception and investment decisions: a study on potential investors of Kazakhstan”. 9th Annual KIMEP International Research Conference (KIRC), Almaty, Kazakhstan, April 2012. “Bank stock returns, loan growth and bank fundamentals: the evidence from Kazakhstan”, with S.H. Lee. 9th Annual KIMEP International Research Conference (KIRC), Almaty, Kazakhstan, April 2012. “The impact of bank competition on bank credit risk – taking and bank stability in Kazakhstan”, with M. Nurmakhanova. 8th Annual KIMEP International Research Conference (KIRC), Almaty, Kazakhstan, April 2011. “The global financial crisis and its impact on the bank and debt restructuring in Kazakhstan”. International Business School (IBC), the University of Pittsburgh (PA, USA), March 2010. |
| Teaching | Current Courses Taught
Introduction to Financial Derivatives Financial Institutions and Markets Investments Financial Institutions Management Derivatives Investment and Financing Decision-making |
| Grants/Awards | Research Excellence Award 2019, BCB, KIMEP University
JSPS Ronpaku Ph.D. scholarship 2016 – 2019 , Kyushu University, Japan Teaching Excellence Award 2015, BCB, KIMEP University Junior Faculty Development Program 2010. U.S. Department of State, USA International Scholarship of the Kazakhstani President “Bolashak” 2001- 2002, Kazakhstan |
Maya Katenova, DBA
Assistant Professor, Finance area
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| Name | Maya Katenova |
| Position | Assistant Professor of Finance |
| Contact detail | mayak@kimep.kz, ex) 2018 |
| Education background | DBA (Finance), KIMEP University
Professional Financial Manager, ICFM, UK MPA (Public Administration),KIMEP University BSS, KIMEP University |
| Overview | Dr. Katenova’s primary research interests are in the area of financial markets and institutions and their influence on economic business cycles. Moreover, she is interested in such issues as financial literacy, monetary transmission mechanism and the future of banking. |
| Research Interests | · Financial markets development
· Financial intermediation · Financial literacy · Monetary transmission mechanism · Future of banking |
| Selected Publications | Articles (In English)
1. Katenova (2013) “Procyclicality and Bank Capital”, World Journal of Social Sciences, Vol. 3, No 6, pp.164-174, USA 2. Katenova (2013)“Fisher Hypothesis in Kazakhstan, Kyrgyzstan and Russia” , GBATA Book, ISBN: 1-932917-09-8, p.57 3. Katenova and Mahmood (2012) “Employee job satisfaction in a transition economy: is Herzberg Theory valid in Kazakhstan?”, Journal of International Management Studies, Vol.13, No.2, pp.61-67 4. Katenova and Syzdykov (2015)“The Correlation of Bank profits and economic conditions: The Case of Kazakhstan”, International Journal of Business Research Papers, Number 1, Volume 11 in March issue of 2015 5. Katenova (2015)“The issue of procyclicality in banking sector of Kazakhstan during financial crisis”, International Journal of Business, Management and Allied Sciences, Volume 2, Issue 3, July-September, ISSN 2349-4638 6. Katenova and Syzdykov (2016) “A Look at the Liquidity problem at KASE in Kazakhstan”, Statistics, account and audit, UDC 336 7. Katenova and Dumlupinar (2016) “Relation of Marketing and Profitability of Kazakhstan Banks”, Nidge University Department of Business Administration, Vol. 9 (3) 9. Katenova, Syzdykov and Gissy (2017) “The causal link between financial sector and economic development: Case of Kazakhstan”, Volume 8, No. 2, International Journal of Business Administration 10. Katenova and Nurmakhanova (2017) “Financial development and economic growth: the case of Kazakhstan”, International Review of Business Research Papers, Vol. 13, No. 1, pp. 151-160 11. Katenova and Lee (2017) “Does mutual causality between direct and indirect finance and economic growth exist in Russian Federation?” Anais da Academia Brasileira de Ciencias (2017) 89 (3 Suppl.): 2544-2557, Non zero Impact Factor Conference Papers 1. IX KIMEP International Research Conference, (KIRC Conference), Procyclicality and Bank Capital, April, 19-21, 2012 2. X KIMEP International Research Conference, (KIRC Conference), Foreign versus domestic banks in Kazakhstan, 2013 3. XII KIMEP International Research Conference, (KIRC Conference), The issue of asymmetric information in banking industry of Kazakhstan 4. GBATA Conference, July, 2-6, 2013, Fisher hypothesis in Kazakhstan, Kyrgyzstan and Russia, Helsinki, Finland 5. EBES Conference, Marketing in banking industry, September, 12-14, 2013, Yekaterinburg, Russia 6. EBES Conference, June 5-7, 2014, CEO Characteristics and Firm Performance: Evidence from Listed Kazakhstani Companies Keun Jung Lee, KIMEP University, Kazakhstan; Maya Katenova, KIMEP University, Kazakhstan 7. Melvana Exchange Program, March, 23-28, Research collaboration, Thesis improvement, Antalya, Akdeniz University 8. Innocast Bukhara Training, March, 10-11, 2016, Bukhara, Uzbekistan 9. KIRC, April, 7-8, 2016, Comparative analysis between Kazakhstan’s financial system and Russian financial system, 10. Business and Society: Modern priorities of development, May, 24, 2016, ALMA Management University 11. KIRC Conference, April, 7-8, 2017, “The mutual causality between financial development and economic growth” 12. KIRC Conference, April, 7-8, 2017, “Are stock market and exchange rate affected by oil price in Kazakhstan?” |
| Teaching | Current Courses Taught:
Financial Institutions and Markets Financial Institutions Management Ethics in Finance Principles of Finance Foundation of Accounting Foundation of Finance |
| Grants | · |
| Awards | · Teaching Excellence Award |
Uzhegova Olga, DBA
Assistant Professor, Finance area
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Assistant Professor of Finance
EDUCATION
DBA, Major in Finance, KIMEP University, 2010
Dissertation Topic: “The Relative Importance of Bank-Specific and Environmental Factors for Bank Profitability
in Developed and Emerging Economies”
MBA, Major in Finance and Accounting, Kazakhstan Institute of Management, Economics and Strategic Research under the President of the Republic of Kazakhstan (KIMEP), 2001
Processing Engineer, Almaty Technological Institute, 1999
WORK EXPERIENCE
TeachingExperience
- KIMEP University, Assistant Professor of Finance, Fall 2010‐Spring 2013, June 2014 – Present
- KIMEP University, Part-time lecturer (Evening MBA program), September 2002 – 2004
AdministrativeExperience
- Associate Vice President, Administration and Planning, KIMEP U., December 20, 2013 ‐ May 31, 2014
- Deputy to the President for Government Relations & Development, KIMEP U., Mid-January 2012- December 19, 2013
- Corporate Secretary,KIMEP U., November 2004- present
- Director of Development, KIMEP, September 2008- Mid-January 2012
- Director of Joint-Stock Company Affairs, KIMEP, November 2004 – August 2008
- Executive Assistant to the Vice President, External Affairs, KIMEP, February 2002 – November 2004
RESEARCH INTERESTS
Corporate Governance, Financial Risks: Hedging and Arbitrage
Phone: 270-42-06, 270-44-40 ext. 2016Office: 104/adm E-mail: uzhegova@kimep.kz
Akhliddin Ismailov, MBA
Senior Lecturer, Finance area
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Doctoral Student at KIMEP
Education:
MBA, Ankara University, 1999-2002
Yasawi International Kazakh- Turkish University
Contact info:
Tel: 270-44-40 Ext: 2140
Office: 318 / Dostyk bld
Email: ismailov@kimep.kz