General information


BAFE’s mission: assistance to the society in formation and development of market institutes through training and re-training of specialists in the sphere of economics and business on the basis of educational programs, which have the applied nature.

BISHKEK ACADEMY OF FINANCE AND ECONOMICSBishkek Academy of Finance and Economics (BAFE) is a private higher educational institution, managed by the Founders Council. It was established in 1994.
It is a modern and dynamically developing higher educational institution, which specializes in economics, finance, accounting, management, and tourism.
The Academy offers an excellent opportunity to learn four foreign languages: English, French, Italian and German. Special courses on foreign languages and studies are taught  by the  native speakers and professional teachers.
There are four computer classes at BAFE equipped with the up-to-date models of computers; Internet access is available through the dedicated channel.
In 2005 BAFE passed a first public institutional accreditation in Central Asia CAMEQ (Central Asian foundation for management development, European foundation for management development) successfully and got a golden diploma and CAMEQ accreditation label.

BAFE is an educational and methodological center for: Chamber of Accountants and auditors of the Kyrgyz Republic, First private Pension fund “KYRGYZSTAN”, State Committee on investments and property management of the Kyrgyz Republic, Association of tour operators of the Kyrgyz Republic,
Association of the Silk Road of the Kyrgyz Republic.


Contact information:
55, Molodaya Gvardia ave.
720010, Bishkek
Tel./fax (+996 312) 65 02 17
tel. International Department (+996 312) 65 04 86
e-mail: bishkekacademy@hotmail.kg


BAFE develops professional educational programs on the following specialties and provides graduates with diplomas of the state standard:
Branch: Economics (Pilot BACHELOR program on ECTS)
Economics and management in the enterprise
Branch: Management (Pilot BACHELOR program on ECTS)

Specialty - Management
Specializations: Business administration, Marketing management, Management in tourism

Specialty – Finance and Credit
Specializations: Financial management , Tax investigation, Banking

Specialty – Accounting, Analysis and Audit
Specializations: Accounting, analysis and audit in commercial organizations

Specialty – Taxes and taxation
Specializations: Taxes and taxation

Specialty – Social-Cultural Service and Tourism
Specializations: Tourism and hotel business, Advertising and PR

Specialty – Information systems in economics
Specializations: Information systems in economics

BAFE offers the following Master Programs:




Tempus Tacis project  «M.S. in Socio-Economics: curricula development»

A three-year Tempus Tacis project «M.S. in Socio-Economics: curricula development» was officially supported by the Commission. It’s aimed at the Master programs development in the universities of Kyrgyzstan and Uzbekistan, credit system implementation, establishing of a system for evaluation and quality assurance both based on a Peer – Evaluation. 
Partners from Kyrgyzstan are Kyrgyz National University and Bishkek Academy of Finance and Economics. Uzbek partners are presented by the Academy of Science of the Republic of Uzbekistan and Tashkent State University of Economics.
European partners and coordinators of the project are Kassel International School of Management (Germany) and Institute of Advanced Studies (Austria). 

Project «Development of Career Center at Bishkek Academy of Finance and Economics», 2005-2006. The project is financed by CARANA Corporation, Business and Economics Education Project. It is targeted at the assistance in strengthening of links between business and universities through the development of the Career Center. It should solve the following tasks: orientation of the university on the demands of business, rising a rate of students’ job placement, strengthening links with alumni.   

The academy participates as a pilot institute in the following projects:

  • «Creating National Information centers about the Bologna Process in the Kyrgyz Republic» The main purpose of the project is to support a strong initiative in Kyrgyzstan on reformation of the higher education system in accordance with the Bologna process.
  • “Project of Establishment of experimental and convergent curriculum in “Economy” discipline at the pilot institutes of the Kyrgyz Republic” (2004-2005)

The main purpose of the project is in the creation of the experiment curriculum on Economics and organization of educational process on ECTS. In the framework of the project the following tasks were accomplished: information of freshmen and students about the changes in the work with professors, about changes in the organization of classes, formation of individual educational plan for the student, changes of teaching methodologies. 
A set of events were carried out within the project: participation of BAFE representatives  in the project-technological seminar “The Bologna process and reformation of curricula for bachelor program in economics”, participation of BAFE in the development of a guidance on creation of information catalogue, changing of managerial structure of the university, development of Teaching-Methodological Complexes, participation in the organization of seminars on the project outcomes’ discussion, organization of thematic working groups for the improvement of the experimental working plan.

  • Tempus Tacis project “Manual development for introducing European System of Transfer and credit Collection in Kyrgyz Republic” (2004-2005)

The project is aimed at the preparation of basis for the transition to the Bologna process through the introduction of ECTS. Tasks of the project are in the learning of experience of European universities on introduction of ECTS. Partner universities on the project were San – Martin College, the Great Britain and Perkamaa Polytechnic, Finland . Within the project a conference on the project results was hold.



  • “Introduction of innovative methods of ecological management of the hotel-tourist enterprises for the North Issyk-Kul region’s sustainable development”

It’s a one-year project (2004-2005) supported by Eurasia foundation and aimed at the introduction of the principles of ecological management in management of hotel- tourist enterprises for abridging the negative action on the environment and simultaneous reduction of production expenses. One of the outcomes is expected to be a foundation of the Chamber of Ecological Auditors.

  • Establishing a Consulting Center for the entrepreneurs in Naryn, 2002-2003 (Eurasia foundation),
  • TACIS-Tempus project “Development of the tourism department at BAFE” 1999-2001,
  • Program of reformation of accounting in the private sector of Kyrgyzstan 1997-2000 (USAID, Carana Corporation),
  • Project on developing small and medium business in the Central Asia 2000-2001 (joint with Pragma corporation, USAID),
  • Project of the Asian Bank of Development “Strengthening of the corporate management potential and bankruptcy procedures” 1997-1998,
  • Central Asian Project on accounting reformation 1995-1997 (Barents Group, USAID),
  • Professional Training of unemployment people 1995-2001 (Mercy Corps, Eurasia Foundation, Counterpart Consortium),

Project on reformation of educational system of the Kyrgyz Republic 2001 (Asian Bank of Development)


BAFE has an impressive background and experience in conducting trainings and courses for government institutions, international organizations, private companies, and entrepreneurs on accounting, financial management,  running small and medium businesses.
short-term courses: English language,  computer literacy,  accounting,  business secretary.

An international conference “Business and Education: interaction and development” was hold in the 31st of May –1st of June, 2004 in Bishkek.

The conference was organized by Bishkek Academy of Finance and Economics with the support of the Administration of the President of the Kyrgyz Republic, Ministry of Education of the Kyrgyz Republic, Ministry of economic development, industry and trade of the Kyrgyz Republic, State Agency on science and intellectual property of the Kyrgyz Republic,CAMAN, USAID, Tempus-Tacis.
Aim of conference: to encourage the integration and collaboration of business and education
Conference objectives: to strengthen connections between theoretical knowledge and practical needs of the real sector of the economy, to identify the key problems for the business development and academic education quality, to elaborate recommendations for the economic and business education development and reformation.
Main conference topics: organization of business in the present-day conditions of regional and global competition, integration of business and education, a role of educational programs in business development: new technologies in education, economic growth and human resources’ sustainable development

An International conference “Integration of the Kyrgyzstan’s education system into the Bologna process: university management issues” was hold in December 9, 2003.

The conference was organized by the Administration of the President of the Kyrgyz Republic, Ministry of Education and Culture of the Kyrgyz Republic, Representatives of the European Commission in Kazakhstan and Kyrgyzstan, the State Agency on science and intellectual property under the Government of the Kyrgyz Republic, TEMPUS TACIS, Institute for Advanced Studies (Vienna), Bishkek Academy of Finance and Economics, Kyrgyz National University named after J. Balasagyn, International University of Kyrgyzstan.
More than 100 university administrators, academicians, representatives of Ministry of education and culture, and international organizations participated in the conference.
A number of key issues were discussed on the conference, such as perspective for Kyrgyzstan when joining the Bologna process, university management and a higher education quality assurance issues, a credit technology, a two-level system of higher education, a role of science during the integration of Kyrgyzstan’s universities into the Bologna process, diplomas and degrees recognition issues. The conference provoked a strong interest of the participants. 
A set of recommendations and suggestions related to the integration of Kyrgyzstan’s universities into the Bologna process were elaborated and resulted in the conference Resolution.

In April 26, 2003 Bishkek Academy of Finance and Economics with the support of the State Agency on science and intellectual property under the Government of the Kyrgyz Republic and a Bishkek city administration conducted a students’ conference «Bishkek – a city going toward a future!». The conference was hold in the HYATT Regency Bishkek hotel.

Representatives of Bishkek city administration, international organizations, ministries and establishments, and companies participated in the conference.
The conference aim: to encourage students to find out more about their city and the republic, to motivate students to build up their position in the social society and to contribute in the civic society development, to facilitate researches related to the city infrastructure development. 

In April 16, 2002 in the HYATT hotel’s conference hall an international conference of the Bishkek Academy of Finance and Economics Problems of professional training for the hotel-tourist industry” took place.


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