Three top global accreditation bodies — AACSB, EFMD, AMBA– have decided to suspend membership and accreditation activities in Russia. This was announced in a joint statement by CEOs of three organizations on March 11 after the Russian President Vladimir V. Putin ordered the invasion of Ukraine on February 24.
The Association to Advance Collegiate Schools of Business (AACSB), the Association of MBAs, the Business Graduates Association (BGA), and the European Foundation for Management Development (EFMD) issued a joint statement to suspend any activity for accreditation of Russian institutions.
“We are deeply concerned about the rapid escalation of the humanitarian crisis that is the result of the Russian invasion of Ukraine. We are committed to supporting our Ukrainian business schools, as well as staff, faculty and students as they defend their way of life and sovereignty,” the press service of the Ministry of Education and Science of Ukraine quotes the statement.
This announcement is a setback to B-schools in Russia. According to an article published on AACSB website in March 2019, the Russian Association of Business Education (RABE) boasts over 100 members and many of them are looking to expand outside the country and attract more international students. The article mentions that AACSB has nine member schools from Russia and AMBA has accredited programs at 13 Russian schools.