Nazarbayev University and Social Health Insurance Fund to Face Stricter Funding Regulations

Starting January 1, 2026, Kazakhstan will tighten the rules for financing quasi-state institutions, including Nazarbayev University, the Social Health Insurance Fund (SHIF), and the Astana International Financial Centre (AIFC), Orda.kz reports.

The move comes following recommendations from the Supreme Audit Chamber (SAC). A state audit revealed that the current system of funding through targeted deposits and transfers makes it difficult to accurately account for public assets.

Institutions such as Nazarbayev University, Nazarbayev Intellectual Schools, SHIF, and AIFC receive annual funding through this opaque mechanism.

The SAC recommended that the government consider changing the financing model, as the current method does not provide sufficient transparency in how funds are spent. As a result, the new Budget Code will eliminate provisions for targeted deposits and transfers, replacing them with direct transfers to legal entities, auditors explained. 

Under the new system, any unspent funds must be returned to the state budget, though some exceptions will apply. Moreover, the heads of these organizations will be held personally accountable for how the money is used and for the results achieved.

Previously, Orda.kz reported that the Supreme Audit Chamber had identified serious issues at Nazarbayev University.

According to Kazakhstan’s Chief Auditor Alikhan Smailov, the university, almost entirely reliant on public funding, fails to provide transparent financial statements and allows ineffective planning. In just one year, violations totaling 73 billion tenge were uncovered.

Original Author: Ruslan Loginov