Published
12/16/2025, 09:52Entrepreneur and billionaire Timur Turlov is expanding his presence in the region. Specifically, his Kazakhstani Freedom Bank is establishing a subsidiary in Kyrgyzstan, which will subsequently become a full-fledged bank. This is reported by Forbes Kazakhstan.
The new organization will be established as a closed joint-stock company called Freedom Bank KG. The bank plans to be based in Bishkek. The authorized capital will be 1 billion KGS, which is equivalent to approximately 5.9 billion tenge at the exchange rate on December 15. It will be formed by issuing 1 million ordinary shares with a par value of 1,000 KGS each. Kazakhstan's Freedom Bank will own 100% of the capital of the new structure.
According to Forbes, Freedom Bank Kazakhstan's sole shareholder, Freedom Finance, has already approved the draft charter, the business plan for the future bank, and the recommended candidates for top management and members of the governing bodies.
Two approvals are required to launch the bank:
Freedom Holding Corp. is already present in the Kyrgyz market: the holding's subsidiaries provide brokerage services, operate in the field of electronic payments, and sell tickets.
Forbes Kazakhstan previously reported that in September 2025, Turlov announced his intention to enter the Georgian banking market, and in November, he received regulatory approval.
The entrepreneur is also interested in the Turkish banking sector (where he is considering purchasing a bank) and is already operating in Tajikistan, where he has entered the market with a subsidiary bank.
Timur Turlov owns about 70% of Freedom Holding Corp. and has a net worth of $5.8 billion (according to Forbes Kazakhstan, May 2025). He ranks second in the list of the 75 richest people and fourth in the list of the most influential businesspeople in Kazakhstan.
