The new structure will become part of Kyrgyzstan's banking sector, with 100% of the authorized capital belonging to Kazakhstan's "Freedom Bank." The charter, business plan, and list of candidates for key management positions have been approved — all decisions were made by the sole shareholder of Freedom Bank Kazakhstan, the company "Freedom Finance."
To establish this subsidiary, approval from the Agency for Regulation and Development of the Financial Market (ARDFM) is required, as well as a banking license from the National Bank of the Kyrgyz Republic.
Freedom Bank already has business operations in Kyrgyzstan: the holding's subsidiaries provide brokerage services (Freedom Broker), payment services (Freedom Pay Kyrgyzstan), and ticket sales (Ticketon Events KG).
In September 2025, Forbes Kazakhstan reported on Timur Turlov's plans, the owner of Freedom Bank, to expand his activities in the banking sector of Georgia. In November, the bank received permission from the Kazakh regulator to open a bank in Georgia. Additionally, Turlov is considering the possibility of acquiring a bank in Turkey, where his subsidiary already operates and there are plans to develop brokerage services. He is also interested in the banking market of Tajikistan, where Freedom has already entered with a subsidiary bank and obtained a banking license in the fall of 2024.
Information about Freedom Holding's foreign expansion was presented by Turlov at a press breakfast in early December 2025 — details can be found here.
Timur Turlov owns approximately 70% of Freedom Holding Corp. He ranks second in the list of the 75 richest people in Kazakhstan, with a net worth of $5.8 billion as of May 2025. In the ranking of the 50 most influential businessmen in the country according to Forbes Kazakhstan, he holds the fourth position. He has assets not only in the financial sector but also in telecommunications, mining, and media. In 2024, Turlov became the owner of 60% of Karaganda Airport ("Sary-Arka") and acquired the Karaganda football club "Shakhtar," in which he plans to invest 18.5 billion tenge for development.
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