Experts from Kazakhstan’s Freedom Bank and leading specialists in blockchain technologies have shared their unique experience in launching digital mortgage lending with representatives of relevant Tajikistan government agencies.
A statement released by the Joint-Stock Company (JSC) Freedom Bank Tajikistan says the meeting took place as part of a working visit organized at the IT-HUB Freedom Bank.
The event was attended by representatives of the National Bank of Tajikistan (NBT), the Agency for Innovation and Digital Technologies under the President of Tajikistan, Amonatbonk (Tajikistan’s savings bank), the State Unitary Enterprise for Property and Real Estate Registration, and the Ministry of Justice of Tajikistan.
The statement emphasized that participants discussed Kazakhstan’s experience in implementing digital mortgages and the feasibility of introducing them in Tajikistan. Key topics included centralizing the real estate database, ensuring compliance with international standards in property valuation, and streamlining the registration process.
Additionally, Kazakhstani experts shared their experience in integrating fragmented information systems, creating a unified land registry, and developing regulatory frameworks for an efficient real estate management system.
According to Dauren Nisinbayev, Chairman of the Board of Freedom Bank Tajikistan JSC, active work is currently underway to launch the innovative "Digital Mortgage" product in Tajikistan.
"Freedom Bank is ready to share its accumulated experience in digitalizing government services and banking products, as well as serve as a bridge between experts from Kazakhstan and the Agency for Innovation and Digital Technologies under the President of Tajikistan in the process of exporting E-GOV solutions to the country," he stated.
The statement also noted that the meeting placed special emphasis on other innovative Freedom Bank services that will soon be available to residents of Tajikistan.
Digital mortgages are almost identical to traditional mortgages, but a digital mortgage uses technology to touch base with borrowers at every stage of the lending process no matter where they are. This type of mortgage reduces costs, eliminates the manual process, and streamlines the entire operation. One of the most compelling reasons to take mortgages online is that it could significantly reduce the length of the home-buying process.
JSC Freedom Bank Tajikistan is a subsidiary of JSC Freedom Bank Kazakhstan, which was the first in Kazakhstan to introduce innovative financial products such as digital mortgages, digital auto loans, digital documents, corporate banking, and more. The authorized capital of Freedom Bank Tajikistan is 100 million somonis (approximately 4.5 billion tenge).
Established in 2020 through the acquisition and renaming of KassaNova Bank, Freedom Bank Kazakhstan offers products such as multi-currency and investment cards, online lending, and digital mortgages.
