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We are pleased to announce that AIFC Academy of Law has designated M. Narikbayev KAZGUU University (KAZGUU) as a Strategic Knowledge Partner. KAZGUU has been a valued academic partner since the inception of the AIFC Academy of Law, as demonstrated in several successful collaborative initiatives between our organizations, including:

✔️ TOLES Legal English program designed non-native English speaking legal professionals
✔️ Cross-training KAZGUU’s faculty in AIFC law & practice, and common law teaching methodologies
✔️ Participation of KAZGUU students in the Academy of Law’s International Internship Programme
✔️ Participation of KAZGUU students and faculty in AIFC Foundations and Certificate short courses

David Gallo, member of the Board of Directors of the AIFC Bureau of Continuing Professional Development, noted: “KAZGUU University is a leading higher education institution in Central Asia, with a full range of bachelors and post-graduate law, business and liberal arts programmes. The AIFC Academy of Law is pleased to build on this valuable relationship by supporting KAZGUU’s mission of preparing its students for professional success in multi-jurisdictional settings.”

Sergey Pen, KAZGUU Provost, stated: “KAZGUU was a first Kazakh university, launched initially separate courses and then an independent minor-programme in English Law. We have a strong background of teaching common law to national students and lawyers and a very good joint projects with the Academy of Law. It’s time to join forces. We believe in our collaboration and joint strategic initiatives in order to implement best practices and improve national legal system and legal education”

The parties have agreed to develop common law and practical skills courses for inclusion in KAZGUU’s degree programmes.

We are soliciting academic research papers and articles from KAZGUU’s faculty and students for distribution in the Academy’s DISCOURSE online channel

The Academy of Law looks forward to a long and mutually rewarding collaboration with a view toward ongoing legal system and professional competencies development in Kazakhstan and across the CIS.

The applicants for a personal scholarship should:

– successfully complete at least two years of study;
have high academic performance indicators (excellent study);
– actively participate in public and research activities;
– have achievements in international, national festivals and competitions (for students of educational institutions in the ‘Art and Culture’).

It should be noted that students who are citizens of the Republic of Kazakhstan are allowed to participate in the competition.

The competition is held in two stages:

• Round 1 is at the premises of an educational institution, during which the best students are selected for a scholarship nomination;
• The 2nd round is held by the Foundation among students nominated by educational institutions and admitted to participating in the competition.

Additionally, students who study both free of charge and on a paid basis are eligible to apply for a scholarship.

The scholarship of the Nursultan Nazarbayev Foundation is determined for one academic year and is paid on a monthly basis only for the period of study (two semesters), excluding the summer period.

To participate in the 1st round, it is necessary to submit the following documents to the Room 238 until July 30, 2021:

1) a transcript confirming high academic performance;
2) copies of documents confirming the applicant’s participation and achievements at conferences, subject olympiads and competitions, including:

– a list of research papers published by the applicant (individually or in co-authorship);
– a list of speech topics at scientific conferences, symposiums, indicating their place and time;
– documents confirming the applicant’s victories in international and national subject olympiads, scientific and creative competitions;

3) a copy of the identity card.

For all questions, please contact: 8 (7172) 70-30-30 internal number 1199, Anelya Yerlanovna.

[Nur-Sultan, 9 June 2021]

Higher School of Economics M. Narikbayev KAZGUU University has become the latest university to be welcomed into the CFA Institute University Affiliation Program. Master of Science in Finance has been acknowledged as incorporating at least 70 percent of the CFA Program Candidate Body of Knowledge (CBOK) and placing emphasis on the CFA Institute Code of Ethics and Standards of Professional Conduct within the program. This program positions students well to obtain the Chartered Financial Analyst (CFA®) charter, which has become the most respected and recognized investment credential in the world. Entry into the CFA Institute University Affiliation Program signals to potential students, employers, and the marketplace that KAZGUU curriculum is closely tied to professional practice and is well-suited to preparing students to sit for the CFA examinations. Through participation in this program, Higher School of Economics M. Narikbayev KAZGUU University is eligible to receive a limited number of CFA Program Student Scholarships each year.

The Master in Finance program is a combination of in-depth study of quantitative methods with a practical solution of business tasks. The program prepares for a wide range of financial services that require analytical severity and the ability to market innovative challenges.

Curriculum provides rigorous academic content that is coupled with the current practice will prepare the most demanded professionals in the field.

Master of Science in Finance is the only academic program welcomed into the CFA Institute University Affiliation Program and recognized by GARP as an Academic Partner in Kazakhstan.

Dr Saule Kemelbayeva, Dean of Higher of School of Economics, says:

“We are extremely proud and happy to announce that our Master of Science in Finance program is now recognized under the CFA Institute® University Affiliation Program. So far, we have been the first and the only university in Kazakhstan recognized as an affiliated university under the CFA Institute University Affiliation Program (UAP) for an undergraduate level; now we are the only one in Central Asia for both Master and Bachelor levels. Our university now appears at the CFA Institute® webpage among the best universities across the world ensuring excellence of our Finance program at the international level. Financial markets and intermediaries are a very fast developing and promising industry in Kazakhstan and the region; therefore, we believe that the future graduates of our Finance programs will be highly demanded by local labor markets and will pursue successful careers. Moreover, one of the most prestigious professional certifications in the world will make them competitive in the international labor market as well. And this would become possible for the best-achieving students within the CFA exam scholarship.”

About CFA Institute

CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion of ethical behavior in investment markets and a respected source of knowledge in the global financial community. Our aim is to create an environment where investors’ interests come first, markets function at their best, and economies grow. There are more than 160,000 CFA charterholders worldwide in 164 markets. CFA Institute has nine offices worldwide and there are 161 local societies. For more information, visit or follow us on Twitter at @CFAInstitute and on

About the CFA Program

The CFA Program sets a standard for developing the skills, standards, competence, and integrity of financial analysts, portfolio managers, investment advisers, and other investment professionals worldwide. It is widely considered the investment profession’s most rigorous credentialing program. Administered in English, the CFA curriculum and examinations are identical worldwide. Fewer than one in five candidates who begin the program successfully complete it and go on to earn the coveted CFA charter, the “gold standard” for investment professionals.

On June 4, 2021, Professor George Bermann gave a lecture on the topic of investor-state dispute settlement before students of KAZGUU University. In his lecture, he covered the main areas of investment arbitration, procedures and substantive protections offered by international investment agreements.

Professor Bermann is the director of the Center for International Commercial & Investment Arbitration at Columbia Law School, a world-renowned authority on comparative law, EU law, international trade contracts, WTO dispute resolution, and transnational litigation and arbitration. For more than four decades, he has been an active international arbitrator in commercial and investment disputes in all sectors, including general commercial contract, construction, intellectual property, energy, oil and gas, competition law, transportation, and employment.

Prof. Bermann drew comparisons between investment arbitration and commercial arbitration. He noted that investments disputes are based on an international investment agreement (e.g. a bilateral investment treaty), which required consent of the State. He described ICSID, as a specialized institution to hear only investment disputes. He noted that over 60% of investor-state claims are brought before ICSID.

On substantive investor protections, Prof. Bermann discussed a number of rights, including:

    1. National Treatment: where a foreign investor must be treated the same as a domestic investor.
    2. Most-Favoured-Nation Treatment: where an investor must be treated the same as that of a foreign investor of a different state.
    3. Expropriation: where there is a taking by the State, that an investor is entitled to the payment of full, adequate and effective compensation. He explained the difference between direct (loss of the entire investment) and indirect expropriation (substantial deprivation of the investment).
    4. Fair and Equitable Treatment: the guarantee of fair and equitable treatment. Prof. Bermann prefaced this protection by noting its application on a case-by-case. This saw its critique as an inconsistently applied type of protection. Prof. Bermann noted the concept has developed through arbitral awards, that the notion of ‘unfair’ and ‘inequitable’ treatment has been defined. He referred to specific examples, including proportionality (did the government regulate the matter excessively, and it take more than required measures to achieve its objective); legitimate expectations (did the government give an assurance at the time of investment, that have since been broken, and now can be relied upon).
    5. Full Protection and Security: where an investor is protected from harassment, violence and any physical harm.

Prof. Bermann described the whole arbitral process: choosing a seat (the ‘geographical home’) of the arbitration; selecting arbitral tribunal; hearings; rendering an award. Then he explained the process of enforcing an award. This means, in the context of investment arbitration, to go to a court where the State has assets, and then to obtain an order to enforce against the property of that State. Prof. Bermann noted that enforcement would usually take place under the New York Convention.

Prof Bermann closed his lecture with a final note that the investor-state dispute settlement system is open to serious critique, of which is being addressed and reformed. He described the issue to involve the centralization of power amongst three private individuals (the tribunal), whom had substantive power to dispose with the economic interests of a country. He noted the system to contain no appeal on the merits, and that states, substantively, are concerned with their right to regulate for the public interest.

The lecture then finished with questions and answers. The university students posed insightful questions, reflective of their understanding of investor-state dispute settlement. This included, on recent trends in investment agreement negotiation practices, scrutiny of an arbitral award, anti-suit injunctions, investment courts and umbrella clauses.


HSE welcome you to the online summer school on the comparative regionalism. This event will be hosted by the Post-graduate School, Airlangga University, Indonesia in collaboration with United Nations University Institute Comparative Regional Integration Studies (UNU-CRIS), Belgium and Higher School of Economics of M. Narikbayev KAZGUU University, Kazakhstan on 21-25 June 2021.

The main objective of The Online Summer School on Comparative Regionalism in The Changing World is to expose participants to the field of research on comparative regionalism in global arena in the context of emerging powers and shifting political/economic balances.

Participants will be introduced to major cases and main theoretical and methodological frameworks used in comparative regionalism studies.

Participants will receive a certificate of completion signed by organizing entities

The summer school will bring together students from the world with accomplished scholars of comparative regionalism

Follow the link to learn more:

The Higher School of Economics and The Political Economy Research Center of the M. Narikbayev KazGUU University is delighted to announce this call for submissions to the competitive award which seeks to recognize outstanding work of talented students who will join a Research Mentorship Program that aims to develop the young research community. It aims to encourage bright and gifted future researchers to continue the tradition of academic excellence and critical thought in academia.

The successful candidate (First Prize Winner) will be awarded a scholarship to study for Master’s degree (MS in Economics or MS in Finance) offered by HSE. The scholarship covers tuition fee and housing expenses for those living outside of Nur-Sultan city. In addition, during your study at the HSE and as a First Prize Winner you will be offered a paid job at the University (as teaching/research assistant). After successful graduation in the Master’s programme, you will be offered a placement at the University with competitive salary and will have to work at the University at least one year. During this time under the Research Mentorship Program you will have an academic mentor who will help you with application for the Doctoral level study if you decide to pursue a career in academia.

Second, Third and Forth Prize Winners will be awarded a certificate for participation in the contest. In addition, your contribution to the competition will be taken into account by the Academic Committee of the HSE when you submit your graduation dissertation.

Eligibility: The prize is open to third- and forth-year students of the Higher School of Economics. You need to write in English an essay of your choice on the topic broadly related to socio-economic/economics, political economy and finance issues within the field of expertise of the HSE professors (please, familiarize yourself with their research interests on the HSE website – The length of an essay (12 Times Roman, 1.5-line spaced) is between 1000-2000 words and deal with, for example, the following topics:

• financial market instability and measures to regulate financial markets
• the scope of monetary policy in the face of asset price bubbles and intensified currency competition
• problems of fiscal, trade and industrial policy
• labour relations
• alternatives to austerity and privatization
• political economy of digitalization and platform capitalism
• issues and approaches in feminist economics/the care economy
• consequences of global warming and problems of a social and ecological transformation
• Eurasian Union
• economic and social consequences of the Covid-19 pandemic
• etc.

The Organizing Committee of the HSE will select the best five essays. The Finalists will then have to present their work in a 5-10 minutes presentation format where the First Prize Winner will be selected.

Deadlines: please submit your essay by 15 May 2021 to Dr. Kuat Akizhanov via email,

Strengthen your personal and professional competitiveness by academic excellence and gaining transferable skills! This is your chance to improve your employability through astonishing CV!

Do not miss it!

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