Timur Turlov, President of the Kazakhstan Chess Federation and founder of Freedom Holding Corp., has announced his candidacy for the position of Deputy President of the International Chess Federation (FIDE). The leadership elections are scheduled to take place on September 26-27, 2026, in Uzbekistan during the FIDE General Assembly. Turlov will run on a joint ticket with the current FIDE President.

Turlov stated that his decision reflects the efforts of the Kazakhstan Chess Federation to develop and digitize the sport. He emphasized that Freedom Holding Corp., as a fintech group, can assist FIDE in becoming more digital and technology-driven. "My goal is to bring more stability, balance and mutual understanding to FIDE," said Turlov.

Since assuming the presidency of the Kazakhstan Chess Federation in 2023, Turlov has overseen significant growth in the sport's popularity within the country. In 2025, Kazakhstani players secured 162 medals at international competitions, including 64 gold medals. The country's school chess program now includes more than 1,500 schools and over 60,000 students.

Freedom Holding Corp. has recently expanded its involvement in the chess sector. In April 2026, the company acquired ChessBase, a leading chess software and analytics platform, and plans to invest around €5 million in its development. Additionally, the company's Freedom SuperApp is integrating chess content, including tournament broadcasts, educational materials, and online play.

Freedom Holding Corp. operates as an international fintech company listed on Nasdaq, with headquarters in Almaty and New York. The company provides financial services in 22 countries and is regulated by the U.S. Securities and Exchange Commission (SEC). Its shares trade under the ticker symbol FRHC on Nasdaq, the Kazakhstan Stock Exchange (KASE), and the Astana International Exchange (AIX).

S&P Global Ratings has upgraded the credit ratings of several subsidiaries of Freedom Holding Corp. to 'BB-' with stable outlooks, citing improved risk management and strong capitalization. The upgraded entities include Freedom Finance JSC, Freedom Finance Europe Ltd., Freedom Finance Global PLC, and Freedom Bank Kazakhstan JSC. The agency also raised the long-term Kazakhstan national scale ratings for Freedom Finance JSC and Freedom Bank Kazakhstan JSC to 'kzA-.' Kazakhstan’s sovereign credit ratings were affirmed at 'kzAAA' on the national scale and 'BBB-' with a positive outlook. Freedom Holding Corp.’s rating remained at 'B-' with a stable outlook.

S&P noted that Freedom has demonstrated positive momentum in risk management across the holding company and its subsidiaries. This progress is expected to enhance the group’s ability to monitor and control risks, including sanctions compliance, cybersecurity, reputational, regulatory, and cryptocurrency risks. The agency anticipates that the group will maintain strong capitalization metrics over the next 12–24 months, despite ongoing investments in telecommunications and consumer lifestyle businesses.

Freedom’s earnings metrics remain robust, with a three-year average operating profit-to-risk-weighted-assets ratio of approximately 2.2% for the period from March 2024 to March 2026. S&P highlighted that the development of Freedom’s financial and non-financial businesses is not expected to place significant pressure on its capitalization. The agency also recognized Freedom’s position as a leading digital fintech ecosystem in Kazakhstan, with its SuperApp mobile application reaching approximately 2.6 million monthly active users in March 2026.

Freedom Holding Corp. reported record revenue of $2.19 billion for fiscal year 2026, with net income doubling to $153.3 million. The company significantly expanded its client base, with the number of users of its bank services doubling to 5.03 million and its brokerage client base growing by 26% to 858,000 clients. In the insurance and other segments, Freedom serves around 2.2 million people. The total client base of its digital ecosystem across all operating markets exceeded 14 million by the end of fiscal year 2026.

Timur Turlov, CEO of Freedom Holding Corp., emphasized the expansion of the digital ecosystem beyond its home region as a key element of the company’s long-term strategy. The company is pursuing growth in Europe, Turkey, the United States, and the Middle East. As of May 1, 2026, its European brokerage business had reached 453,000 clients. Freedom has applied for a banking license in France, plans to invest €500 million in its digital ecosystem there, and expects to invest $300 million in expanding its Turkish operations. The company also announced the acquisition of 99.32% of Turkish Bank’s shares and received permission to open a bank in Georgia in November 2025.

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