We are pleased to announce that Narxoz University School of Economics and Management (SEM) has successfully completed the EFMD Business School Impact System (BSIS) assessment process and has been awarded the BSIS label for positive impact. 

The BSIS evaluation team highlighted several key strengths, including the school’s strong regional standing, high graduate employability supported by close practitioner engagement, coordinating role in national business education, expanding international partnerships, and focused research contributions aligned with Kazakhstan’s development priorities.

Addressing the school’s achievement, BSIS Director François Bonvalet remarked:

“The School of Economics and Management at Narxoz University, based in Almaty (Kazakhstan), has shown a clear capacity to positively impact its region, through academic quality, professional relevance, and public engagement. Its commitment to purposeful education and its role in shaping national business practice demonstrate why it merits recognition within the BSIS Label.”

Narxoz University, School of Economics and Management (SEM)

SEM is the leading School of Economics and Management of Narxoz University, a private institution in Almaty, Kazakhstan. Founded in 1963, it offers English, Russian, and Kazakh language programmes in accounting, finance, management, economics, and marketing.

The school combines rigorous academic training with practical learning through international double-degree agreements, including its partnership with Queen’s University Belfast, and coursework aligned with industry needs. It operates from a modern, newly renovated campus with advanced IT laboratories, a 24-hour library, and contemporary classrooms supporting both collaborative and individual study. With 1,875 students and more than 110,000 alumni, and 75% of graduates employed locally, SEM demonstrates a broad educational reach and a measurable economic impact.

Regional academic and industry influence

The BSIS review team highlighted SEM’s multidimensional contribution to its region. Its longstanding academic reputation and legacy as a leading institution in economics underpin its influence across Kazakhstan. Its mandated role as host of the Republican Educational and Methodological Council positions the school as a national leader in shaping business education standards.

Industry integration is central to SEM’s impact. Graduates enjoy job offer rates that are well above the national average and receive strong recognition from the Big Four. Collaboration with 82 professionals and partnerships with 18 major organisations, including EY, Deloitte, ForteBank, Halyk Bank, and UNICEF, ensure curricula remain aligned with labour market needs. It generates an estimated 69.4 million in direct, indirect, and induced economic impact within Almaty and Kazakhstan, reinforcing its role as a key regional economic actor.

Faculty expertise and global engagement in Central Asia

Faculty hold 18 senior roles across leading organisations in Kazakhstan, enhancing knowledge transfer and the school’s practical relevance. International engagement is strengthened through SEM’s double-degree programmes with Queen’s University Belfast, Hof University of Applied Sciences, and VŠB – Technical University of Ostrava, which together enhance student mobility, curricular integration, and international academic exposure.

SEM currently operates the following double-degree programmes:

• Queen’s University Belfast (3 programmes): BBA in Finance; BBA in Business Economics; BBA in Management
• Hof University of Applied Sciences (2 programmes): MSc in Management; BBA in IT in Business
• VŠB – Technical University of Ostrava (1 programme): MSc in Marketing

Its trilingual programmes reflect its commitment to accessibility and international standards. Faculty research has included 24 journal articles over the past three years, with a focus on emerging leadership in sustainable development, energy economics, and Central Asian economic integration.

Contributions to sustainable development and diversity

SEM advances societal inclusion through scholarships, structured student support, and accessible admission practices. Its contributions align with 11 UN SDGs, supported by strong gender representation, with 60% of its faculty being women, and an active DEI policy framework. Engagement with public authorities, employers, and community partners positions the school as a trusted contributor to national debates and public policy.

The school’s strong regional and national reputation is reinforced by its history, student achievements, and active participation in public and professional events. SEM also enhances Almaty’s profile as a centre for knowledge and business activity.

Collectively, these elements form a coherent impact profile. SEM stands as a significant academic, economic, and societal actor in Kazakhstan, combining historical depth, contemporary relevance, and clear value to its region. These strengths underpin the BSIS team’s positive evaluation and the awarding of the BSIS label to Narxoz University’s School of Economics and Management.

Dilbar Gimranova, Director, School of Economics and Management, Narxoz University, commented:

“The BSIS journey has enabled us to articulate our School’s societal and economic contribution with unprecedented clarity. It has strengthened our strategic alignment with Kazakhstan’s national development agenda and highlighted our role in the ongoing transformation of higher education across Central Asia. The process has been both rigorous and empowering, reinforcing our commitment to nurturing responsible leaders and shaping a more innovative and inclusive educational ecosystem.”

About BSIS

The Business School Impact System (BSIS) is the first comprehensive impact assessment tool for business schools, covering more than 130 indicators across seven dimensions of impact. It provides a tailor-made data collection system for monitoring, assessing, and developing the impact of business schools.

The BSIS process involves the definition of the impact zone and institutional scope, data collection, impact assessment, and the report with recommendations for future development. Demonstrating the school’s impact on internal and external stakeholders, the system serves as a communication and negotiation tool externally and fosters an impact culture within the school. Schools that undergo BSIS are awarded the BSIS Label for a three-year period.

• There are currently more than 90 schools across 25 countries that have received the BSIS label.
• To learn more about the impact assessment system, please visit the BSIS website or contact Julie Comte.

What is it like for schools to undergo the BSIS process? Discover the compelling journey of Blanka Cimcioch, International Accreditations Coordinator at Poznań University of Economics and Business, as she shares her insights on navigating the BSIS process, highlighting the challenges, seizing the opportunities, and reaping the rewarding results it has yielded. Read more.

For additional insights, announcements and perspectives, please visit the conversation on the EFMD Business School Impact System (BSIS).