The new financial institution will be registered as a closed joint-stock company and will be named "Freedom Bank KG" (Freedom Bank KG in English).
The office of the new organization will be located in Bishkek. The authorized capital will amount to 1 billion soms, which is approximately equivalent to 5.9 billion tenge at the exchange rate on December 15. It will be formed from 1 million shares with a nominal value of 1000 soms each. Kazakhstan's Freedom Bank will be the sole owner of 100% of the shares of its Kyrgyz subsidiary.
The sole shareholder of Freedom Bank Kazakhstan — the company "Freedom Finance" — has already approved the draft charter, business plan, and candidates for key management positions.
To open a subsidiary in Kyrgyzstan, approval from the ARRF (Agency for Regulation and Development of the Financial Market) is required, and for a banking license — from the National Bank of the Kyrgyz Republic.
Timur Turlov (second from the left)
Freedom Bank is already actively operating in Kyrgyzstan through its subsidiaries, providing brokerage and payment services, as well as ticket sales.
In September 2025, Forbes Kazakhstan reported on Timur Turlov's intentions to expand banking activities in Georgia. In November, Freedom Bank received the corresponding permission from the regulators of Kazakhstan. Additionally, the businessman is interested in the possibility of acquiring a bank in Turkey and has already entered the Tajikistan market with a subsidiary bank.
Timur Turlov owns about 70% of the shares of Freedom Holding Corp. He ranks second on the list of the 75 richest people in Kazakhstan with a fortune of $5.8 billion as of May 2025 and is in fourth place in the ranking of the 50 most influential businessmen in the country according to Forbes Kazakhstan.
