Welcome to the Business School

International program

MS in Financial Analysis

The M.S. in Financial Analysis program at the KBTU Business School is the first and only finance master's program in Central Asia officially recognized by the Chartered Financial Analyst (CFA) Institute, USA. The program's curriculum is grounded in fundamental financial and economic principles and designed to give students deep knowledge and specialized skills in the field of investment and asset management.


• The only program in Kazakhstan and Central Asia officially recognized by the CFA Institute, USA: www.cfainstitute.org/community/university/Pages/recognition program_for_universities.aspx
• The program is based on the CFA Candidate Body of Knowledge curriculum and ten finance competencies that are recognized and widely used by investment professionals globally.
•Upon completion of the program, students will earn a government approved Master's Degree in Financial Analysis and will possess the complete set of skills and knowledge necessary to effectively prepare to pass all three levels of the CFA Exam to obtain the CFA designation, which has become the most respected and recognized investment credential in the world.



• KBTU was the first university in Kazakhstan to install Bloomberg Professional, a global platform for real-time data and analytics used worldwide by financial professionals in banks, investment companies and corporate departments.
• The Bloomberg Financial Lab’s main goal is to help our students, faculty and researchers advance using real-life cases, actual data and advanced analytics on global financial markets, macroeconomics, and the world's corporate base.
• The cutting-edge capabilities of the Bloomberg Financial Lab help us prepare uniquely trained specialists and researchers ready to succeed in the variety of fields from banking to logistics to engineering.


Language of Instruction: English
Duration: 15 Months
Delivery Mode: Evenings + Saturdays (4 times a week)
Starting date:: September 7, 2017
Tuition fees:   - Foundation program: 495 000 KZT
- Degree program:– 2 090 000 KZT
- Discounts are available for KBTU graduates and Diploma with honors holders
Admission:: July , 2018


The Program mainly focuses on helping the students master the 10 knowledge areas that constitute the CFA Institute’s Candidate Body of Knowledge. The curriculum designed to help students obtain the knowledge, skills and abilities that investment experts worldwide have identified as essential best practice. The whole period of study consists of Foundation program and the MS in Financial Analysis Program itself. Specific course requirements are the following:


MSF Foundation Program Curriculum*:

Courses Credits
Quantitative Methods in Finance I 1
Financial Statement Analysis I 1
Economics for Investment Decisions I 1
Corporate Finance I 1
Equity Analysis & Valuation I 1
Fixed Income Instruments I 1
Derivatives & Alternative Investments I 1
Portfolio Management I 1
Ethics and Professional Standards  I 1

*Applicants who have passed CFA Level I are exempted from MSF Foundation Program

MSF Program Curriculum:

Courses Credits
Core Courses 15
Specialization Courses 18
Internship 2
Research Work (Business Project / Thesis) 4
Final Attestation 4
Comprehensive Exam (1 credit) 1
Business Project / Thesis Defense (3 credits) 3
Total 43

Core Courses
Course Title Credits
Business Communication 3
Ethics and Professional Standards 3
Economics for Investment Decisions 3
Quantitative Methods in Finance 3
Business Research Methods 3
Total: 15

Specialization Courses

Course Title Credits
Corporate Finance 3
Financial Statement Analysis 3
Equity Analysis and Valuation 3
Fixed Income Instruments 3
Derivatives 3
Portfolio Management 3
Total: 18

Internship, Business Project / Thesis and Comprehensive Exam

An Internship and a Business Project / Thesis related to the specialization is required.

Course Title Credits
Internship 4
Research Work (Thesis) 1
Comprehensive Exam 3
Thesis Defense 3
Total: 10


STEP 1: Submit the required documents to KBTU Business School (July , 2018)
• Filled out application;
• Notarized copy of Higher Education Diploma (the original of the Diploma and Transcript);
• Resume (in English);
• 2 recommendation letters (in English);
• Motivation letter (in English);
• 6 photos 3x4;
• Identification Document (copy and original);
• Medical Reference №086-
У + X-ray;
• Copy of the Work Record Book or other document proof of employment history (if applicable);
• Notarized copy of IELTS (6.0 or more) Certificate (if applicable) or a copy of payment receipt for English test.

STEP 2: Main subject examination.(Aug , 2018)

STEP 3: Successfully pass the “Foundation” courses. (September - November, 2018)



The CFA (Сhartered Financial Analyst)credential has become the most respected and recognized investment designation in the world.
The CFA Program curriculum covers concepts and skills candidates will use at all stages of a career, bridging academic theory, current industry practice, and ethical and professional standards to provide a strong foundation of advanced investment analysis and real-world portfolio management skills.
The Program is organized into three levels, each culminating in a six-hour exam. CFA Program candidates report dedicating in excess of 300 hours of study per level. Completing the entire Program is a significant challenge that takes most candidates between two and five years.


CFA Institute is the global association of investment professionals that sets the standard for professional excellence and administers the industry gold standard CFA charter.
The organization is a champion for ethical behavior in investment markets and a respected source of knowledge in the global financial community.
The end goal is to create an environment where investors’ interests come first, markets function at their best, and economies grow. CFA Institute has more than 110,000 members in 139 countries and territories, including 100,000 CFA charter holders. For more information, visit - www.cfainstitute.org

file_downloadPresentation MBA, MS IN FINANCIAL ANALYSIS

Contact us

+7 727 357 42 40 (371)
+7 705 193 00 55
Room 447 (Abylai Khan )