Freedom Holding Corp. said it will open its first branch office in Tashkent, Uzbekistan. The office will be located in the city's International Business Center and will initially employ 12 investment consultants.
Timur Turlov, Company CEO, announced that the Tashkent office will be managed by Evgeniy Mozheiko, who has been serving as the director of the Freedom Finance branch office in Pavlodar, Kazakhstan. The office will be operating under licenses issued by the government's Center for Coordination and Development of the Securities Markets to act as an investment intermediary, investment consultant and trustee of investment assets. ''We believe our business philosophy, expertise and array of investment services that provide investors access to local, CIS and U.S. securities markets will be in demand in this vibrant but underserved region,'' noted Turlov.
Mozheiko stated, ''The opening of a branch in Uzbekistan is an exciting development for Freedom Finance. In terms of population Uzbekistan is the largest country in Central Asia and its economy has grown steadily over the past twenty years reaching in 2017 more than $30 billion annually with GDP growth of 5.3% and per capita income growth of 10.3%. This growth has been supported by several government reforms aimed at improving the country's business climate including stabilizing the country's monetary policy, liberalizing the currency exchange rates and the privatization of State-owned properties. In combination these changes have created strong growth opportunities for financial services providers.''
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 (CIS).