Babaniyaz Yalakov graduated in 2014 from the Belarusian National Technical University with a degree in Economics and Management. In 2023, he completed advanced training at the Academy of Public Administration under the President of Turkmenistan. From 2015 to 2018, he headed the Planning and Economics Department at the State Enterprise “Türkmendemirönümleri”. In 2018–2019, he led the Industrial Sector Department at the State Committee on Statistics. Between 2019 and 2021, he served as Head of the Export and Import Analysis Division at the Agency for Protection Against Economic Risks under the Ministry of Finance and Economy. From 2021 to 2024, he headed the Financial Analysis Department for the Fuel and Energy Sector within the Ministry. In 2024, Mr. Yalakov was appointed Deputy Minister of Finance and Economy of Turkmenistan.