Why The Best Investment is the one made in Education

Pavel Mironov, managing director of kaspi bank, has delivered the fourth lecture at Caspy Hall, marking the last theory-centric lecture of the Flight over the Horizon series held jointly by IAB and kaspi bank.

The speaker shared insight into how one can avoid common pitfalls of damaging their credit record and what they need to know as early as possible before taking out loans.

He pointed out that when a bank receives an application for a credit every situation is determined individually, with a package of factors, rather than a single fact, influencing the banks’ decisions to approve the loan or not.

“The factors having an impact on the credit history are the nature of the product, such as its worth, its purpose and the term, the credit record itself, profits, social and demographic break-up of the applicant’s sttaus and potential assets.”

This fourth lecture capped off the theory-focused part of the “Flight” that saw other two speakers – kaspi bank’s top manager Aleksander Yemeshev and executive director of law department Sabyrzhan Berkinbayev cover issues of banking operations; ways to manage family finances more efficiently, even if the salary is just enough to get by; and gave tips on how to sign a contract with a bank.

Kseniya Yuzhaninova, Director of Entrepreneurship and Innovation Development Centre at IAB, says that the project is fully compliant with the university's mission to «train a generation of socially-responsible business leaders” and meets IAB’s strategic task to become an entrepreneurial university. “To attain this goal our students need certain skills and expertise. Among them, financial literacy is one of the priority skills that young people need to be able to manage their finances and to use financial instruments. One other factor of an “entrepreneurial university” is its internationalization of knowledge, with overseas education coming into Kazakhstan through lecturers, business coaches and hands-on teachers. This is why we invite kaspi bank managers to give lectures at the university. Most of them have internationally-recognised and high-quality education. This is an innovative bank and IAB is an innovative university, which gives high-quality business education. This is why we’ve launched this project.”

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* all the meetings will be recorded and broadcast on the websites of the bank and the university.

            ** Mikhail Lomtadze – Chairman of the Board of kaspi bank, has obtained BBA at the European School of Management in Georgia and MBA at Harvard Business School.  Before joining kaspi bank he had been responsible for investment in the financial services department of Baring Vostok Capital Partners. Before that he had been the head of his own company GCG Audit, Georgia’s leading consultancy firm, which in 2002 became part of Ernst&Young.