Better Health for All

The company's core financial services products have a neutral health impact. However, Freedom Holding Corp. has supported various initiatives with health-related benefits. For vulnerable reach, FRHC allocated KZT 795 million (USD 1.64 million) for a sports complex for people with disabilities and KZT 2.9 billion (USD 5.99 million) to assist flood victims in western Kazakhstan.

It also provided KZT 37.5 million for children's chess, attracting children from socially vulnerable groups, and supports IQanat High School for talented rural students. For health equity, Bank Freedom Finance Kazakhstan JSC provided KZT 140 million to the “Qaryzsyz Qogam” project, aimed at improving citizens' welfare through financial literacy. For preventative health, FRHC supports projects aimed at improving health and developing sports, including KZT 94 million for “Elimai Football Club” and KZT 100 million for “Zhetysu Football Club”. For mental health, Bank Freedom Finance Kazakhstan JSC donated KZT 6 million to support the inclusive theater "Deistviye Bukvalno," which includes actors with mental health conditions. For nutrition and food safety, Arbuz.kz, a subsidiary, delivers fresh food and expands its range of healthy, diet, gluten-free, and plant-based products, launching an organic line in 2024. For healthcare education, financial literacy initiatives include Freedom Camp and Freedom Academy, and FRHC provided KZT 65 million to the "Ziyatker Qogam" Public Foundation for analytical reports on socio-economic development. During the 2025 financial year, FRHC allocated KZT 2.9 billion (USD 5.99 million) to assist victims of floods in western Kazakhstan.

Fair Money & Economic Opportunity

Freedom Holding Corp. has faced significant regulatory issues and penalties. In Kazakhstan, the company incurred 244 penalties and 121 sanctions, totaling approximately $353,000.

Ukraine suspended Freedom's brokerage license and froze assets, and the Ukrainian President sanctioned Timur Turlov. The company admitted to providing brokerage services to sanctioned individuals and entities. Its subsidiary, FFIN Belize, was blacklisted by the Kazakhstan financial regulator for "signs of illegal activity" related to guaranteed return products. The company is also subject to an ongoing, undisclosed SEC investigation since at least October 2021. Additionally, the company has undergone multiple accounting restatements in recent years due to cash flow and earnings misclassifications.

Fair Pay & Worker Respect

For fiscal year 2024, the CEO's total compensation was $8,492,310, and the median employee pay was $6,498, resulting in a CEO-to-median employee pay ratio of 1307:1.

Employee reviews on Glassdoor show an overall rating of 4.18/5, with 82% of employees stating they would recommend the company to a friend. There is no mention of specific regulatory actions, violations, fines, or compliance issues related to labor violations.

Honest & Fair Business

Freedom Holding Corp. incurred approximately $353,000 in ethics-related regulatory penalties across four entities in Kazakhstan.

The company has restated its financials four times due to cash flow accounting discrepancies and recast annual financials in six separate years, including two restatements in 2023 related to misclassification of cash flows and earnings. Management concluded that disclosure controls and internal control over financial reporting were not effective as of March 31, 2022, due to material weaknesses. The company has a Whistleblowing Policy that applies worldwide, offers 24/7 anonymous and multilingual reporting channels, and ensures initial reports are reviewed within five working days. It also has an Anti-Bribery and Corruption Policy that applies to all entities and personnel, with employees in high-risk roles undergoing annual specialized training. However, the company failed to disclose an ongoing SEC investigation since at least October 2021, according to reporting by Disclosure Insight, and admitted to providing brokerage services to sanctioned individuals and entities. The company's auditor, WSRP, was replaced by Deloitte LLP in Kazakhstan on October 13, 2022, but the extent of audit coverage is not specified beyond this change.

Kind to Animals

Freedom Holding Corp. is a financial services firm, and its business model does not involve animal products, animal testing, animal agriculture, or related supply chains. The company explicitly states 'No Animal Exploitation'.

Therefore, most animal welfare KPIs are not applicable and are scored as N/A (0). The company signed agreements with the Ministry of Ecology on biodiversity conservation and the restoration of the Turan tiger population, and supports the restoration of the Aral Sea ecosystem. It also participated in COP29, signing ESG agreements related to natural resource preservation. However, the articles do not provide measurable biodiversity impact, species recovery metrics, or specific percentages of revenue dedicated to conservation initiatives with documented outcomes, which are required for positive scoring in the 'wildlife_conservation_impact' KPI. Similarly, there is no evidence of specific engagement in animal welfare policy improvement or advocacy that would allow for a positive score in 'public_policy_engagement'.

No War, No Weapons

Freedom Holding Corp. admitted in its August 4, 2023 annual report to providing brokerage services to individuals and entities subject to sanctions by OFAC, the EU, or the UK.

As of March 31, 2025, approximately 4% of total customer liabilities, or $156.7 million, related to sanctioned individuals or entities. FFIN Belize, a related party, still advertises the ability to send rubles via Alfa Bank, a sanctioned Russian bank. In October 2022, Timur Turlov and Freedom Finance Ukraine LLC were sanctioned by Ukraine for financial support of the Russian Federation, leading to the suspension of licenses and asset freezes for Freedom Finance Ukraine. Kazakhstan's financial market regulator also blacklisted FFIN Belize in October 2021 for 'signs of illegal activity'. The company divested its Russian business units in February 2023. FRHC contributed nearly $3,000,000 to humanitarian relief efforts in Ukraine, with its CEO personally contributing an additional $2,500,000. The Board adopted a Human Rights Policy in 2024, and the company publicly cites UNGP alignment, though third-party audits note major gaps.

Planet-Friendly Business

Freedom Holding Corp. reported total Scope 1, 2, and 3 greenhouse gas emissions, including financed emissions, of 2,790,529 tCO₂e for the period April 2023 to March 2024.

This data was externally assured by Deloitte, LLP. The company's subsidiaries operate in regions classified as experiencing water stress, including Kazakhstan, Kyrgyzstan, Uzbekistan, and the Republic of Cyprus. The company has signed agreements with the Ministry of Ecology on biodiversity conservation and the restoration of the Turan tiger population. It is also supporting restoration efforts for the Aral Sea ecosystem, including planting black saksaul and other salt-tolerant plants, and has launched an 'Araldy Saqta' payment card that donates cashback to the International Fund for Saving the Aral Sea.

Respect for Cultures & Communities

Freedom Holding Corp. reported a revenue of $1.67 billion for fiscal year 2024.

In the same year, the company's total charitable spending amounted to KZT 40 billion. Based on the provided conversion rate where over 4 billion tenge equals $7.7 million, KZT 40 billion is approximately $77 million. This charitable spending, which supports various initiatives in Kazakhstan such as sports, education, and flood relief, represents about 4.61% of the company's 2024 revenue.

Safe & Smart Tech

Freedom Holding Corp. experienced a data leak in December 2020, affecting 16,000 clients with personal details from 2018, which was attributed to an employee opening a phishing email.

A subsidiary, FFIN Belize, explicitly states in its client agreement that it has the right to use client funds/securities in its own interests and unifies client funds in one account, which could lead to client money being written off. The company uses multi-level data encryption and certified data centers. It has implemented biometric identification for digital mortgages and auto loans, and its SuperApp uses biometric authentication and a single sign-on process. The company engages in periodic monitoring and assessments of its technology infrastructure and processes, and has a cybersecurity incident management process. However, the 2020 data leak indicates weak points in protection. The company has faced multiple regulatory issues, including admitting in August 2023 to providing brokerage services to sanctioned individuals and entities, and its CEO being personally sanctioned by Ukraine in October 2022. Four Freedom entities in Kazakhstan accrued 244 penalties, resulting in 121 sanctions totaling approximately $353,000. Freedom also failed to disclose an ongoing SEC investigation since at least October 2021 and disclosed two accounting restatements and a material weakness in internal controls in 2023. A remediation plan for banking law violations by Freedom Bank KZ was confirmed complete in April 2024. The company states it fully complies with GDPR and local privacy regulations.

Zero Waste & Sustainable Products

Freedom Holding Corp. does not generate hazardous waste from its activities.

The company conducts annual waste audits for major facilities, with an inventory of greenhouse gas emission sources completed in January 2025 and financed emissions in March 2025. It has implemented several waste reduction initiatives, including the launch of Freedom Fandomats, a national system for collecting plastic bottles and aluminum cans, which received $54,720 in funding. Additionally, its subsidiary Arbuz.kz allows customers to return paper and plastic bags for recycling, and the company is digitalizing document management to reduce paper waste. The reverse vending machines are made from recycled metal.