Timur Turlov, CEO of Freedom Holding Corp., announced that the opening of Freedom Bank Tajikistan in Dushanbe is expected in the spring of 2025.
Kapital.kz reports that the statement was made via the entrepreneur’s social media account on Threads.
“Dushanbe was amazing… The potential to build a top-tier retail digital bank with our technology is absolutely insane. The total assets of the entire banking sector here amount to just $2 billion! Cashless payments make up only 20% of transactions. Banking services are expensive. And we already have a great team in place!” Turlov noted, confirming in the comments that the launch is planned for spring.
Back in October 2024, Freedom Bank Kazakhstan obtained a banking license in Tajikistan. The decision to enter the Tajik market was explained in November 2024:
“Tajikistan has its own development potential, and we see opportunities for our group of companies (Freedom). For example, the unified QR payment system is already operational here, whereas it’s still under development in Kazakhstan. We believe our technologies, which have proven effective in Kazakhstan, can boost Tajikistan’s financial market. Additionally, Kazakhstan has transferred its eGov IT platforms to Tajikistan, which is a strong signal for the advancement of public digital services," the bank stated in response to Kapital.kz’s inquiry.
The bank obtained its Tajik license “very quickly, within eight months,” which the financial institution sees as an indication of Tajikistan’s openness and accessibility to international companies.
The authorized capital of Freedom Bank Tajikistan is 100 million somonis (approximately 4.5 billion tenge), according to the bank.
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.
Joint-Stock Company (JSC) Freedom Bank Kazakhstan reportedly specializes in providing financial services to the public and small businesses. Through its branch network, the bank offers simple and intuitive products at a reasonable price.
The bank's official website says that the bank’s goal is to become one of the leaders in its segment, namely in providing financial services to a wide range of people and small businesses.
In the medium term, it is planned to ensure the presence of the Bank in all major cities of Kazakhstan.
