Freedom Bank Tajikistan has been granted licenses to become a professional participant in the securities market of Tajikistan, says a statement released by the bank's press service.
The license handover ceremony reportedly took place during a working meeting between the top management of Freedom Bank Tajikistan and Freedom Broker and the leadership of the Ministry of Finance and the Securities Agency of Tajikistan.
Freedom Bank Tajikistan received the following licenses: a license to carry out brokerage activities in the securities market; a license to carry out dealer activities in the securities market; and a license to conduct portfolio management activities in the securities market.
"The main topic of the meeting was the discussion of the prospects for the development of the infrastructure of Tajikistan’s securities market, including the use of REPO operations, the issuance of government and corporate bonds, as well as improving the investment literacy and activity of the population," the statement said.
Freedom Bank Tajikistan emphasized that obtaining these licenses is a timely and strategically important event, marking a new stage for the bank in the development of Tajikistan's securities market. "This will enable the introduction of modern investment tools and help foster an investment culture among the population," the statement added.
Speaking at the meeting, Yusuf Majidi, the First Deputy Minister of Finance of Tajikistan, expressed confidence that Freedom Bank’s activities will contribute to the further development of the country’s financial infrastructure, the strengthening of the securities market, and increased investor trust.
"The trust placed in us should become the basis for long-term and responsible cooperation for the benefit of the economy of the Republic of Tajikistan," Majidi concluded.
Ms. Nigina Abdurahmonzoda, Director of the Securities and Special Registration Agency of the Ministry of Finance, is confident that the partnership with Freedom Bank Tajikistan will provide a significant boost to the development of Tajikistan's securities market.
"Our common goal is to create conditions for the introduction of new financial instruments, increase transparency, and expand opportunities for investors in Tajikistan – both professional and retail," she said.
Abdurahmonzoda noted that Tajikistan’s securities market is still in the formative stage, and now, when the foundations are being laid, partnership, joint initiatives, and open knowledge-sharing are particularly important in forming a transparent, competitive, and sustainable financial infrastructure in the country.
Daureen Nisinbayev, Chairman of the Board of Freedom Bank Tajikistan, called the receipt of the licenses an important step and the beginning of full-fledged operations in Tajikistan's securities market.
It is worth noting that in October of the previous year, Freedom Bank Tajikistan received a license from the National Bank of Tajikistan to conduct banking operations in both national and foreign currencies. This financial institution is a subsidiary of Freedom Bank Kazakhstan.
