Financial Markets: Increasing Complexity, Maintaining Stability

3–5 July 2019, ST. PETERSBURG

    An agreement on the establishing and operation of the Network Financial Institute within the Eurasian Network University was signed on July 13 at the International Financial Congress.

    The Network Financial Institute was established by six universities of the Eurasian Economic Union (EAEU) to organize cooperation in finance-related education and science with the aim of providing personnel and scientific support for the effective interfacing of national financial systems within the EAEU and including them in the common Eurasian financial market.

    The agreement was signed by the following organizations:

    - Russian-Armenian University (Republic of Armenia);

    - Belarus State Economic University (Republic of Belarus);

    - Kyrgyz-Russian Slavic University named after B.N. Yeltsin (Kyrgyz Republic);

    - Financial Academy (Republic of Kazakhstan);

    - Financial University under the Government of the Russian Federation;

    - St. Petersburg State University of Economics (Russian Federation).

    The Network Financial Institute is the first pilot structural association formed within the framework of the Eurasian Network University and is open to other educational and scientific organizations, banks as well as financial and credit institutions in EAEU countries.

    The basis for its creation was the Eurasian Network University on which a memorandum was signed on April 12, 2016 as part of the Eurasian Association of Universities.

    The President of Financial Academy JSC of Republic of Kazakhstan’s Ministry of Finance Natalia Korzhova noted: “Along with organizing educational activities as part of the concept of continuing education, special emphasis will be placed on further education and professional development programmes. Large-scale work is to be carried out to develop and update professional standards on financial markets and harmonize qualification requirements for specialists on financial markets. Particular attention will be paid to the development of the sectoral framework of qualifications as a tool for linking the qualification requirements of the labour markets of EAEU countries as well as mechanisms for recognizing levels of education and qualifications”.