Kazakhstan’s Freedom Bank Probes Avenues of Debuting Tajikistan’s Market

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Freedom Bank of Kazakhstan is considering the possibility of establishing several subsidiary structures of Freedom Holding Corporation in the Tajikistan market, a source at the Kazakh bank told Trend.

A Freedom Bank representative said the bank sees significant potential and opportunities for the development of digital financial services and products in Tajikistan. The bank aims to cultivate partnerships with Tajikistani banks in various areas.

Currently, discussions with Tajikistan’s National Bank are centered on issues related to the development of state and financial services, the role of digitization in the evolution of the banking system, as well as the existing challenges and opportunities.

Aidos Zhumagulov, advisor to the board of directors of the Kazakh bank, previously expressed Freedom Bank’s interest in opening a subsidiary bank or branch in Tajikistan. In response, Hokim Kholiqzoda, Chairman of the National Bank of Tajikistan, noted that the country’s banking legislation has created a favorable environment for the establishment of foreign banks, their branches, and representations.

Freedom Holding Corporation offers a wide array of digital banking products, encompassing digital mortgages, digital vehicle purchase loans, payroll processing, commercial loans, savings, and internet banking services in Kazakhstan and various other countries.

Source: Trend News Agency