Kazakh ‘Freedom Holding’ is interested in entering Georgia’s financial market, the President of the National Bank of Georgia, Natia Turnava, told BM.GE.
Turnava met representatives of the holding during her visit to Washington, D.C., as part of the Spring Meetings of the International Monetary Fund and the World Bank.
The NBG President says the company is preparing to apply for a banking license in Georgia and has already received approval from its home regulator.
“Formally, the application has not yet been submitted,” Turnava said. “They have created a working group that is in contact with the relevant departments of the National Bank and is preparing the application. Until the application is submitted, we cannot say it will definitely happen, but we have high hopes.”
She added that the company has already secured approval from its domestic regulator and is actively working on the process.
“We hope another foreign, regional bank will enter the Georgian market,” Turnava noted. “There is no official application yet, but they are devoting significant resources to preparation. We also met them here in Washington at their initiative, which shows clear interest.”
‘Freedom Holding’ is registered in Nevada, USA, with its head office in Almaty, Kazakhstan. Reports about its interest in Georgia had previously been shared by Kazakh media.
