Freedom Bank Kazakhstan JSC will open its subsidiary financial and credit organization in Tajikistan, Aidos Zhumagulov, a member of the Board of Directors of this bank, told Tajik journalists during a press tour in Almaty.
According to him, preliminary agreements have been reached with the National Bank of Tajikistan. Zhumagulov noted that it is planned to create an IT hub at the bank in Tajikistan, where representatives of the two countries can meet and discuss startups.
"If some startups in Kazakhstan want to come to Tajikistan, they will actually receive a free platform through our platform," he said.
IT–hub is an innovation center where talented developers, designers, analysts and other information technology specialists gather. They come together to work on joint projects, share experiences and knowledge, and create new products and services.
Zhumagulov stressed that "a lot of work has been done, a roadmap has been developed," according to which it is planned to act.
"We want our platform to be implemented correctly after a certain period of time and our products, our experience, our expertise will benefit the Tajik people," he added.
Earlier, in April of this year, the Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan announced the issuance of a permit to JSC Freedom Bank Kazakhstan to establish a subsidiary – CJSC Bank Freedom Finance Tajikistan.
The sole shareholder of the bank is Freedom Finance JSC, which owns 100% of the shares of a subsidiary being created in Tajikistan.
According to the National Bank of the Republic of Kazakhstan, as of December 1, 2023, Freedom Bank Kazakhstan ranked 8th in terms of assets in the Kazakh financial intermediation market.
It should be recalled that the Kazakh bank Kazkommertsbank JSC worked in Tajikistan, which in 2006 opened its subsidiary in the republic – Kazkommertsbank Tajikistan CJSC.
In May 2019, Halyk Bank Kazakhstan acquired Kazkommertsbank, respectively, Kazkommertsbank Tajikistan as a subsidiary bank was renamed Halyk Bank Tajikistan.
However, in November 2022, the Kazakh bank sold a full stake in Halyk Bank Tajikistan to the International Bank of Tajikistan. And in September 2023, in accordance with the preliminary agreements of the parties, a rebranding was carried out, and Halyk Bank Tajikistan received a new name – ActivBank.
According to the National Bank of Tajikistan, as of June 30, 2024, there are 14 traditional banks and 1 Islamic bank operating in the republic.
