Mikail Shishkhanov was born on August 6, 1972 in Grozny (capital city of the Chechen Republic, Russia). In 1995 he graduated from Peoples’ Friendship University named after Patrice Lumumba with a master's degree in economics and law and in 2000 - Finance Academy under the Government of the Russian Federation. Shishkhanov is a Doctor of Economics, Ph.D. in law, Associate Member of the Russian Academy of Natural Sciences, Chechen.