Freedom Finance Bank Kazakhstan Considers Entering Azerbaijani Market
(MENAFN- Trend News Agency) BAKU, Azerbaijan, July 4. Freedom
Finance bank Kazakhstan JSC is interested in expanding its
activities in the Azerbaijani market, Advisor to the Board of
Directors of Freedom Finance Bank Kazakhstan JSC Aidos Zhumagulov
told trend .
This has to do with possible integration with
processing centers, issuing bank cards.
He noted that the bank is considering this direction
in Azerbaijan and other countries.
"We will test the possibilities of this integration,
as well as the possibilities of issuing bank cards," Zhumagulov
said.
He stressed that the brokerage business of Freedom
Finance Bank Kazakhstan JSC is present in the markets of 16
countries, including Azerbaijan, and customers can open accounts
with JSC and perform other operations in a digital environment.
"We are localizing the brokerage business in third
countries in accordance with the regulations of these countries.
Opportunities for the development of new banking (digital bank)
depend largely on the Central Bank, and each country has its own
rules. It is impossible to repeat the same cases in different
countries," Zhumagulov said.
"Banks are quite technologically advanced and can
build their own trends and leading solutions in Kazakhstan that do
not rely on the practice of solutions of the same Europe. Fintechs
in Europe have the right to access the personal data of large banks
and rely on GDPR rules. Our business in Europe is adjusted to the
rules of their Central Banks, in the CIS countries, the US and
others - to their rules. Providing bank services in a digital
environment is very convenient from the point of view of adapting
to the rules of a particular country," he added.
According to him, Freedom Finance Bank Kazakhstan JSC
is aimed at expanding banking outside the country.
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