In 2005, he graduated with honors from T. Ryskulov Kazakh Economic University with a degree in Finance and Accounting. In 2004, he studied at the International Academy of Business, specializing in the management module of the MBA program (professional manager). In 2008-2009 he studied at the London Business School as part of the Bolashak international program, where he received a master’s degree in finance (corporate finance). Marat Yelibaev is also a graduate of the Republican Specialized Physics and Mathematics Boarding School named after Zhautykov.

Marat Yelibayev began his professional career in 2004 at the Big Four company Deloitte as an auditor and senior auditor, where he audited projects in the metallurgy, mining, oil and gas, transport and logistics sectors, as well as state-owned companies. 

From 2007 to 2010, he continued his career path at PricewaterhouseCoopers as Manager of the Mergers and Acquisitions Department.

In 2010-2014, he held the position of Investment Director/Vice President at CITIC Kazyna Investment Fund I L.P. 

Held the position of Chief Banker in the Eurasia, Middle East and Africa Energy Department of the European Bank for Reconstruction and Development (EBRD) since 2014, where he was responsible for the development of the EBRD’s renewable energy program in Kazakhstan.

From February 2022 to December 2023, he worked as Deputy Chairman of the Board of the Bank.

By the decision of the Sole Shareholder of Development Bank of Kazakhstan JSC dated December 4, 2023, he was appointed to the position of Chairman of the Management Board of the Bank.