The History of Academy


Bishkek academy of Finance and Economics

                                                             General information                                                                                                                          

BAFE’s mission – to promote the society ( in promotion to the society) in development market institutions by preparing competent personnel in the fields of finance, economics, business, and conduct applied research.

BAFE is a private higher educational Institution, established in 1994 to provide education and managed by a Board of Founders.

This is a modern, dynamically developing higher educational institutions providing personnel training in the field of economics and business.

1500 students are studying at BAFE nowadays, and there are trainings on following directions:

·Undergraduate – Economics; Management & Tourism;

·Masters- Economics; Management, Tourism;

·Specialty – Finance and credit; Accounting, analysis and audit;

·Doctorate (PhD) – Management, Economics

BAFE has got the first public institutional accreditation in Central Asia from CAMEQ (Central Asian foundation for management development, European foundation for management development) and awarded with golden diploma by CAMEQ in 2005.

BAFE is a pilot university of Kyrgyz Ministry of Education and Science  on the implementation of reforms in the higher education system. Some projects were implemented at BAFE since 2005, which were aimed to:

- Development of two cycle undergraduate and masters programs,

- Introduction of ECTS and Diploma Supplement,

- Introduction of competency-based approach on methodology TUNING,

- Development of Career Centers,

- Development of academic mobility of students and stuff,

- Building internal systems of quality assurance and accreditation of the university,

- Development of  PhD programs.

BAFE has wide spread partner connections with government agencies, employers, community organizations, as well as with universities in Europe, Asia and USA.

BAFE signed of Magna Charta Universitatum, Bologna, Italy in 2010.  Academy has taken major steps towards Bologna Process in recent years. The academy has a membership of the Bologna Academy Club, KADO, CAMAN etc.


The program of Economic

  • Finance,
  • Banking,
  • Economics and operation of business,
  • Accounting and analyze on branches,
  • Tax and taxation.

 The program of Management

Financial Management,

 The program of Tourism



Masters on Economics (Since 2005)

•MBA (Since 2005)

•Masters on Ecotourism (Since 2009)

PhD PROGRAMS (since 2013)



Educational programs of Academy are developed  in close cooperation with Moscow Academy of Business and Management, University of Northern Virginia (USA),  ТАМК University (Finland), Telemark University  (Norway), American Girne University  (Northern Cyprus).

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BAFE – a permanent and active participant of EU Commission Tempus, Erasmus Mundus.

Also, BAFE offers DISTANCE LEARNING (e-Learning) on following directions.




Student life in BAFE:

  • Student Government;
  • International Youth movement  “ENACTUS” (SIFE);
  • Student section of sport and tourism;

“BAFE press” newspaper

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Current projects:

1.         TEMPUS project, UNIWORK. Strengthening Career Centers in Central Asia Higher Education institutions to empower graduates in obtaining and creating quality employment (2013-2016).  

2. 2.     TEMPUS project, QAMEL. Introduction of Quality Management in E-learning at Central Asian universities (2013-2016).

3.         TEMPUS project, TuCAHEA. Towards a Central Asian Higher Education Area: Tuning Structures and Building Quality Culture. (2012-2015).

4. TEMPUS project, DOQUP. Documentation for quality assurance of study programs.  The project aims to define and to implement an on-line documentation system for the QA of SPs in the Partner Countries (PCs), consistent with the European Standards and Guidelines for QA. This aim will be pursued through the cooperation of all the project partners, national authorities included (2011-2015).

5. Education in the field of tourism, innovation and sustainable development. Enhancing teaching methods in Kyrgyzstan  – Bishkek Academy of Finance and Economics, Georgia – Shota Rustaveli State University and Norway – Telemark University College, supported by the Norwegian Centre for International Cooperation in Higher Education (SIU) (2011-2014).

6. Library cooperation. Kyrgyzstan Universities and Telemark University College, Norway (2013-2014).

7. The Program Erasmus Mundus, TARGET II. The project aims to promote higher education cooperation between the EU and Central Asia. (2011-2015).

8.The Program Erasmus Mundus Action 2, MARCO XXI. The main objectives of the project are: to improve capacity building of third countries, to promote gender balance, equal opportunities and analytical teaching and learning skills and to increase employability of students. (2011-2015).

9. The Program Erasmus Mundus, Partnership Action 2, TARGET, Central Asia. The project provides mobility scholarships for students and staff from Central Asia to European partner universities. (2010-2014).