Freedom Holding Corp. will open a bank in Tajikistan in spring 2025

Timur Turlov, Chief Executive Officer of Freedom Holding Corp., announced plans to open a bank in Dushanbe in spring 2025. In his post on Threads, he highlighted the high potential of the Tajik banking sector, where total assets amount to approximately $2 billion, and the share of cashless payments is only 20%, creating opportunities for the development of digital banking.

In October 2024, the subsidiary "Freedom Bank Kazakhstan" received a banking license in Tajikistan, and in November, bank representatives emphasized the promising nature of this market. According to them, the use of advanced technologies, previously successfully implemented in Kazakhstan, could accelerate the development of financial services in the republic. An important factor was also the cooperation between Kazakhstan and Tajikistan in the field of digitalization, in particular, the transfer of eGov platforms to the Tajik side. The authorized capital of JSC "Freedom Bank Tajikistan" amounted to 100 million somoni.

In addition to its expansion into Tajikistan, Freedom Holding Corp. is considering entering the banking market in Portugal, as well as expanding its presence in the US, UAE, and Turkey. In December 2024, Turlov announced plans to open a brokerage company in the UAE, and in January 2025, it became known that the subsidiary Freedom Financial Services Inc. received permission to create a brokerage company, Freedom Yatırım Menkul Değerler AŞ, in Turkey.

Source: Threads