Business
Freedom Holding Corp. Subsidiary Granted Licenses by AIFC
ALMATY, KAZAKHSTAN / ACCESSWIRE / May 22, 2020 / Freedom Holding Corp. (NASDAQ:FRHC) (the "Company") today announced that its recently formed subsidiary,
About this update from Freedom Holding Corp.
[{"type":"text","content":"ALMATY, KAZAKHSTAN / ACCESSWIRE / May 22, 2020 / Freedom Holding Corp. (NASDAQ:FRHC) (the \"Company\") today announced that its recently formed subsidiary, Freedom Finance Global PLC (\"FF Global\") organized under the Astana International Financial Centre (\"AIFC\") has been granted a securities license by the Astana Financial Services Authority (\"AFSA\") that will allow it to begin to conduct an array of securities market related services to its clients including retail brokerage services accessing the Astana International Exchange (\"AIX\") and international securities markets.Timur Turlov, CEO of Freedom Holding Corp, stated, \"the opening of a securities firm in the AIFC will create opportunities for many of our Kazakhstani clients to better tailor their investment portfolios to meet their international investment objectives. We expect this addition to the Company will strengthen our competitiveness in the region and contribute to the continuing success of the AIFC.\"The Company expects to commence opening accounts for customers at FF Global in July 2020. The Company will also continue the growth and expansion of its subsidiary Freedom Finance JSC, a Kazakhstani joint stock company, licensed in the Republic of Kazakhstan to provide access to the Kazakhstan Stock Exchange (\"KASE\") and the AIX, as well as investment banking services to commercial businesses in Kazakhstan.About the AIFCThe Republic of Kazakhstan created the Astana International Financial Centre JSC to offer businesses and investors a complete and comprehensive legal platform for attracting, implementing and protecting investments and to provide a friendly tax regime to participants. The AIFC legal jurisdiction is based on the principles, norms and precedents of the law of England and Wales and (or) standards applied by the world's leading financial centers. The AIFC operates both the AFSA and the AIX which conducts securities exchange activities on Nasdaq Financial Framework trading technology.About Freedom Holding Corp.Freedom Holding Corp. is a financial services holding company conducting retail financial brokerage, investment counseling, securities trading, investment banking and underwriting services through its subsidiaries under the name of Freedom Finance in the Commonwealth of Independent States. The Company is a professional participant of the KAS...