Following the market study and negotiations of more than five years, Freedom Holding Corp., a diversified U.S.-based financial services company listed on the Nasdaq, has officially entered the Turkish market. The Capital Markets Board of Turkey, the country’s regulatory authority, has granted a license to Freedom Financial Services Inc., the holding’s subsidiary, to establish the new brokerage company, Freedom Yatırım Menkul Değerler JSC.
“We see Turkey not only as a new dot on the map of our business, but also as an opportunity to give local investors access to the best tools and services Freedom Holding Corp. has to offer. We want them to feel part of the global investment community and make money,” said Timur Turlov, the CEO and founder of Freedom Holding.
At the same time, the holding will significantly strengthen its own position in a key economic hub—at the crossroads of Europe and Asia — in a country with a population of approximately 85 million and a GDP exceeding $1 trillion, according to Timur Turlov CEO of Freedom Holding Corp.
Freedom Holding first became interested in Turkey around 2019–2020, when the Turkish lira was weakening. Timur Turlov has visited Turkey several times in recent years to explore possible acquisitions and to meet with experts.
The Freedom Holding Corp. decided that acquiring a bank or an existing brokerage was not a viable option due to the high inflation and inflated valuations of the Turkish market. Instead, building the business from the ground up through a license proved to be a more practical option.
“Freedom Financial Services’ license may be the first new one in the past two decades, if I am not mistaken. Turkey is really opening up!” Timur Turlov said.
Timur Turlov stated that the company’s advanced technology, which has been instrumental in its success in Europe—where it has attracted 320,000 customers—will be key to gaining market share in Turkey.
Freedom Holding is headquartered in Almaty, Kazakhstan, where it has already established its ecosystem model integrating lifestyle platforms and financial services. This model could potentially serve as the basis for the development of a scalable international “everything application.”
The launch of Freedom Yatırım Menkul Değerler JSC may be just the beginning of Freedom Holding’s growth in Turkey, as the company aims to become a key player in its vibrant financial sector.
“Turkey is a priority market for us alongside Western Europe and Central Asia. By fostering transparency and adhering to Western standards, we aim to build a strong reputation and deliver value to our clients and stakeholders,” Turlov confirmed.
By connecting Central Asian and Turkish investors, Freedom Holding plans to create synergies, providing Turkish clients with access to global markets and facilitating investments in Central Asia, Europe, and the U.S.
