XML 28 R14.htm IDEA: XBRL DOCUMENT
v3.22.1

LOANS ISSUED | 12 Months Ended
--- | ---
Mar. 31, 2022
Loans and Leases Receivable Disclosure [Abstract] |
LOANS ISSUED | LOANS ISSUED Loans issued as of March 31, 2022, consisted of the following:
| Amount Outstanding |  | Due Dates |  | Average Interest Rate |  | Fair Value of Collateral |  | Loan Currency
Mortgage loans | $ | 51,923 |  |  | April, 2022 - March, 2047 |  | 11.86 | % |  | $ | 52,134 |  |  | KZT
Uncollateralized bank customer loans | 34,067 |  |  | April, 2022 - March, 2047 |  | 17.56 | % |  | — |  |  | KZT
Subordinated loan | 5,033 |  |  | December, 2022-April, 2024 |  | 4.89 | % |  | — |  |  | USD
Bank customer loans | 2,395 |  |  | January, 2022 - September, 2045 |  | 14.57 | % |  | 1,000 |  |  | RUB
Subordinated loan | 1,256 |  |  | December, 2022-April, 2024 |  | 7.00 | % |  | — |  |  | UAH
Other | 123 |  |  | February, 2022-Febraury, 2027 |  | 2.50 | % |  | — |  |  | USD
Total loans issued | $ | 94,797 |  |  |  |  |  |  | $ | 53,134 |  |  |
As of March 31, 2022, mortgage loans include the state mortgage program "7-20-25" with the principal amount of $21,310. Microfinance organization Freedom Finance Credit (“FFIN Credit”) is a start-up created by Mr.Turlov. It is a non-bank credit institution that issues loans in Kazakhstan under simplified lending procedures. FFIN Credit was created as a pilot project to test and improve the scoring models used for qualifying and issuing loans. The principal operation of FFIN Credit is to provide loans to customers online using biometric identification and its proprietary scoring process. After completion of the pilot launch, it is anticipated ownership of FFIN Credit will be transferred to the Company. During the year ended March 31, 2022, the Company entered into agreements with FFIN Credit to purchase uncollateralized consumer retail loans. The agreements provide the Company the ability to sell back to FFIN Credit up to $36,010 of the total loans purchased. The Company has determined that it has assumed substantially all of the risks and rewards from the transferor of the loans, with the exception of the amount it has the right to sell back to the transferor, accordingly the Company has received control of the loans and has recognized the loans on its Consolidated Balance Sheets. During the year ended March 31, 2022, the Company purchased loans in the aggregate amount of $59,839 and sold back loans totaling $12,107 to the FFIN Credit. As of March 31, 2022, the Company held outstanding loans purchased from the FFIN Credit totaling $35,388, net of an allowance of $1,321. Loans issued as of March 31, 2021, consisted of the following:
| Amount Outstanding |  | Due Dates |  | Average Interest Rate |  | Fair Value of Collateral |  | Loan Currency
Subordinated loan | $ | 5,033 |  |  | December 2022-April 2024 |  | 3.69 | % |  | $ | — |  |  | USD
Uncollateralized non-bank loan | 2,382 |  |  | January 2022 - February 2022 |  | 3.00 | % |  | — |  |  | USD
Uncollateralized non-bank loan | 1,384 |  |  | May 2021 |  | 13.00 | % |  | — |  |  | RUB
Subordinated loan | 1,331 |  |  | September 2029 |  | 7.00 | % |  | — |  |  | UAH
Bank customer loans | 880 |  |  | March 2024 |  | 15.41 | % |  | 729 |  |  | KZT
Bank customer loans | 657 |  |  | July 2021 - September 2045 |  | 11.27 | % |  | 611 |  |  | RUB
Total loans issued | $ | 11,667 |  |  |  |  |  |  | $ | 1,340 |  |  |

X
- References No definition available. + Details
Name: | us-gaap_LoansAndLeasesReceivableDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI https://asc.fasb.org/topic&trid=2208564 + Details
Name: | us-gaap_LongTermDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration