Kazakhstan’s bank Freedom Finance has shown interest in opening its subsidiary or branch in Tajikistan, the bank head Aidos Zhumagulov stated this on September 20 during a meeting with Hokim Kholiqzoda, the head of the National Bank of Tajikistan (NBT), according to the NBT press center.
Zhumagulov, in particular, noted that the bank plans to expand the scope of its activities in providing financial digital services.
NBT head, for his part, noted that Tajikistan’s legislation “created favorable conditions for opening of representative offices, branches and subsidiaries of foreign banks in the country.”
Established in 2020 through the acquisition and renaming of KassaNova Bank, the Open Joint-Stock Company (OJSC) Freedom Finance Bank offers products such as multi-currency and investment cards, online lending, and digital mortgages. In 2022, the bank had a market share of 58% in the online lending niche.
The Freedom Finance Bank is owned by Freedom Holding Corp., an investment conglomerate registered in Nevada, USA and headquartered in Almaty, Kazakhstan. The company provides a range of services in retail financial securities brokerage and trading, asset management, capital markets, investment research and counseling, investment banking and underwriting services, mortgages, insurance, and consumer banking. Its main area of focus is in the American stock market, as well as the markets of Central Asia, mainly Kazakhstan.
