INTERNATIONAL SCIENTIFIC AND PRACTICAL CONFERENCE DEDICATED TO THE CELEBRATION OF THE NATIONAL CURRENCY DAY – TENGE

As part of the celebration of the National Currency Day – Tenge, and in support of the UN Sustainable Development Goals (Goal 4 “Quality Education” and Goal 10 “Reduced Inequalities”), the Department of Finance and Accounting at the Higher School of Economics and Business (hereinafter – HSEB) organized an International Scientific and Practical Conference on November 14, 2025, titled “Green Finance and ESG Investments: Global Trends and Local Challenges.”

The conference program was structured around the following key thematic areas:

- Rethinking the role of Kazakhstan’s financial system in the era of digital transformation, ecosystem development, and FinTech

- Green finance and sustainable development

- ESG and investment management

- Digital finance and artificial intelligence

- Financial security and national financial policy

- Sustainable development of accounting and auditing in times of global change

The seminar brought together representatives of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market, financial market participants, financial experts, international and domestic scholars, as well as doctoral students of HSEB.

The choice of the conference theme was deliberate. The relevance of ESG and green finance is driven by their economic benefits - access to financing, cost reduction, and rising demand from investors and partners, even amidst political shifts. These principles have become essential for operating in international markets, enabling Kazakhstani companies to enhance their resilience and attractiveness while helping investors better manage risks. Moreover, the philosophy of sustainable development underlying the ESG agenda is closely aligned with the UN Sustainable Development Goals, which gives it a global and long-term character.

In her welcoming remarks, Dean of HSEB, c.e.s., associate professor Zhanna Yermekova, expressed gratitude to all participants and guests of the conference, briefly highlighted the activities and achievements of HSEB, and wished everyone productive work.

Head of the Department of Finance and Accounting, c.e.s., associate professor Rysty Sartova, in her address, emphasized the relevance and timeliness of the conference agenda and thanked all speakers and participants, wishing them fruitful discussions.

The conference moderator - c.e.s., Deputy Head of the Department for Research, Innovation, and International Relations, Nazgul Syrlybayeva - continued the event and invited distinguished guests and speakers to present their reports.

In his presentation, PhD, Professor of the College of Islamic Economics and Law at Darussalam Gontor University (Indonesia), Mr. Akhmad Affandi Mahfudz, shared his views on the prospects for further tokenization of Islamic financial instruments (sukuk) and strengthening their role in green finance.

Gadilbek Akim, Chief Expert of the Department for Social Projects and Financial Literacy Development at the Agency for Regulation and Development of the Financial Market of Kazakhstan, Project Manager of the special initiative Fingramota.kz, briefed participants on key activities of the Agency related to consumer protection in financial services and enhancing financial literacy among youth. He also highlighted the surge in financial fraud cases, constantly evolving schemes of deception, and increased involvement of young people in criminal activities - all of which call for stronger coordinated efforts.

Next, representatives of financial market institutions continued with their presentations. Amina Makhanbet, Head of the Sharia and Audit Department at “Al Safi Bank”, spoke about the work of the newly established Islamic bank, the specifics of Islamic banking in Kazakhstan, and the integration of green finance into banking practice.

Deputy Director of the Almaty Branch of “Otbasу Bank” JSC, Kamshat Onalbayeva, informed conference participants about recent updates in the housing savings system and the ongoing implementation of ESG standards within the bank.

Aqzhunis Brassilova, finance business trainer, founder and director of “Financial Literacy School No. 1,” professional speaker at CISSA, game-based learning practitioner, and certified Erickson International coach, presented an in-depth overview of digital and financial security issues in Kazakhstan, emphasizing the growing number of fraud cases, the importance of improving financial literacy, and the need for strengthening international cooperation.

During his presentation, PhD, Professor of the University of Jyväskylä (Finland), Mr. Aijaz Sheikh, introduced participants to research algorithms in the field of green finance and ESG investments, stressing the crucial role of science as a driver of new ideas and innovations.

The event continued with presentations from scholars of Al-Farabi Kazakh National University, including faculty members and doctoral students. Their contributions emphasized that the relevance of the agenda on “Green Finance” and “ESG Investments” remains extremely high and continues to grow despite shifting geopolitical and economic landscapes. These areas have evolved from niche initiatives into fundamental drivers reshaping global perceptions of business and investment.

Green financing and ESG investments are critically important tools for combating climate change, reducing greenhouse gas emissions, preserving biodiversity, and achieving the UN Sustainable Development Goals. Companies that actively implement ESG principles demonstrate higher resilience, stronger investor appeal, and long-term value growth.

The markets for ESG lending and green bonds continue to show stable growth despite short-term fluctuations. Projects that meet green financing criteria (renewable energy, waste recycling, energy efficiency) are actively attracting capital.

By 2025, the ESG landscape continues to evolve, with market participants increasingly focusing on greater transparency and combating greenwashing, underscoring the maturity and relevance of the ESG agenda. Kazakhstan and other Eurasian countries are demonstrating growing interest in developing their own sustainable development strategies and green finance instruments.

Overall, the proposals and recommendations voiced during the conference generated significant interest and discussion among the financial and academic communities, reaffirming their importance and relevance for Kazakhstani society.