National Bank Scholarships

Guidelines for candidates applying for the grant from the National Bank of the of Kazakhstan on «Master of Science in Finance» program

Students who receive a grant from the National Bank of Kazakhstan (NBK) to study in the «Master of Science in Finance» program (MSF), at the Graduate School of Business at Nazarbayev University, will be required to sign an agreement with the NBK.  This document clarifies the rights and responsibilities outlined in the agreement.

According to the Agreement:

The NBK provides:

  • payment of MSF studentstuition and fees for the program;
  • payment of 1 economy class roundtrip air travel ticket (from the place of residence to the place of study and back) during the program;
  • payment of a monthly scholarship stipend in the amount up to 130 000 tenge with deduction of individual income tax. Student will have to pay medical insurance and on-campus accommodation costs from this monthly scholarship.

During the program, NBK grant recipients are obliged to:

  • Complete the full course of the MSF program. If the student drops out of the MSF program, she or he will have to reimburse all expenses incurred by the NBK related to the scholarship;
  • Maintain good academic performance, measured by the results of each intermediate academic period (including, but not limited to, a GPA of at least 3.0 points);

Upon graduation, NBK grant recipients have the following options:

Options
Financial Liabilities
Work for the NBK for 3 (three) years within a period of 5 (five) years from the date of completion of study (date identified in diploma).NONE
Work for a financial institution of the RK for 3 (three) years within a period of 5 (five) years from the date of completion of study (date identified in diploma)According to the norms of the Tax Code of the RK the NBK as a tax agent will have an obligation to pay individual income tax, which MSF student must reimburse at once to the NBK at the end of three months. Expenses allocated for the student’s education is considered as student’s income (according to the Tax Code of the RK);
Work for any other institution (not financial institutions of the RK)Reimburse all expenses actually incurred by the NBK related to the study of MSF student in the case of dropping out from the MSF program or not working the full period of 3 (years) for the NBK or the financial institution of the Republic of Kazakhstan within 3 (three) years.

For reference:

Financial organizations of the RK:

Organizations operating in the insurance market, securities market, banking market, and those conducting certain types of banking operations on the basis of licenses obtained in accordance with the legislation of the Republic of Kazakhstan, as well as those organizations conducting activities of single accumulative pension funds, the central depository, the single registrar and mutual insurance societies, not subject to licensing.

For more details click here 

Employees of the NBK have a right to:

  • Differentiated salary depending on executive and workplace discipline, workload, difficulty and importance of implemented tasks;
  • Medical insurance of personnel and life insurance;
  • Registration for medical treatment to the Medical center of Administration of the President of the Republic of Kazakhstan;
  • Provision of one-time a year recreational compensation in the amount of two fixed salaries, which is paid to an employee upon annual leave;
  • Provision of estate loans;
  • Provision of kindergarten for children of employees;
  • Permanent professional development of employees, including abroad, reimbursement of expenses related to the professional certification.
  • Use of corporate recreation area;
  • Use of dining room, gym and a mini-football field;

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