Detailed information about the finance department

History:

Department of Finance: Over 50 Years of Academic Excellence

The history of the Department of Finance is inextricably linked to the emergence and development of higher economic education in Kazakhstan. The training of finance professionals in Karaganda began concurrently with the founding of Karaganda State University (KarSU) in 1972.

The Department of Finance and Credit was officially established on September 30, 1974. Its founder and first Head of Department was Altai Zhumabayevich Ormanbayev, PhD in Economics and Associate Professor. He was seconded from Kazakh State University (KazSU) to Karaganda by the Ministry of Higher and Secondary Specialized Education of the Kazakh SSR to assist Rector E.A. Buketov in strengthening the university’s Faculty of Economics.

The department has become a premier training ground for finance professionals across the Republic. Prominent scholars of Kazakhstan have made a significant contribution to the establishment of the department's specialty by founding a distinguished scientific school. Among them are Academician G.S. Seitkasimov, B.K. Kazhikarimov, and Professors Z.D. Iskakova, N.K. Kuchukova, N.I. Parusimova, L.G. Telelyaeva, A.A. Musina, D.M. Mazhitov, A.A. Ilyas, Sh.A. Omarova, N.B. Rubenkova, S.M. Omirbayev, and others. Their names have become synonymous with high-quality financial education. Subsequently, the two departments were merged back into the Department of Finance, whose intellectual potential served as the core of the Faculty of Economics. In later years, the department was headed by Professor L.S. Komekbaeva. Today, the department’s legacy is carried forward by its alumna, S.M. Vorobyeva, PhD in Economics and Associate Professor.

Special warmth is reserved for the memory of the first Dean of the Faculty of Economics, K.K. Karakesov, who was a man of high culture and an exceptional organizer. His work was carried on by S.M. Omirbayev, B.S. Esengeldin, and Zh.S. Khusainova, all of whom led the faculty as deans at various times. Today, this tradition of excellence and continuity is maintained by a graduate of the department, Yerbolsyn Tursynuly Akbaev, PhD and Professor.

Over the past decades, the department has produced more than 2,000 highly qualified finance professionals who are successfully pursuing careers in Kazakhstan and abroad.

Currently, the department's faculty consists of 11 full-time members, including 1 Doctor of Sciences (DSc) in Economics, 7 PhDs in Economics, 1 PhD and 2 Masters.

 The Department of Finance is actively integrated into the international educational space, providing students and faculty with access to global best practices.

The Department of Finance continues to evolve, actively participating in grant-funded projects, scholarly publications, and the establishment of specialized laboratories. This reinforces its position as a leader in financial education within Kazakhstan.

The department is integrated into the international and national projects of the Faculty of Economics, including Erasmus+ initiatives focused on social entrepreneurship and Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT), as well as grants from the Ministry of Education and Science of the Republic of Kazakhstan (MES RK) concerning innovation and financial regulation. Faculty members are actively involved in developing recommendations for regional financial stabilization, banking system development, and risk management.

Faculty members publish articles in high-impact journals, monographs, and conference proceedings, including international collections on the digital economy and financial management.  

The department hosts the "Sustainable Development and Green Finance" collective laboratory, equipped with IBM’s SPSS Statistics Base Authorized User License. Within this facility, faculty and students collaborate on grant-funded projects and publish research. Additionally, the department utilizes trading and financial modeling platforms, integrating professional practices from Coursera (offered by Google, Yale, and Wharton).

Since 2019, distance learning technologies have been fully implemented. The employment rate for graduates stands at 96% for Bachelor’s degrees and 100% for Master’s degrees. The department is ranked among the Top 35 in the "Atameken" national ranking for Finance. Furthermore, all departmental programs hold national accreditation from IAAR and IQAA.