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DESCRIPTION OF BUSINESS | 9 Months Ended
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Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
DESCRIPTION OF BUSINESS | DESCRIPTION OF BUSINESS Overview Freedom Holding Corp. (the "Company" or "FRHC" and, together with its subsidiaries, the "Group") is a corporation organized in the United States under the laws of the State of Nevada that through its operating subsidiaries provides financial services including retail securities brokerage, research, investment counseling, securities trading, market making, retail banking, corporate investment banking, underwriting services, commercial banking, insurance products, a payment platform, a conference platform and an online ticket sale platform. The Company is headquartered in Almaty, Kazakhstan, with supporting administrative office locations in Cyprus and the United States. The Group has a presence in Kazakhstan, Uzbekistan, Kyrgyzstan, Cyprus, Germany, the United Kingdom, United States, Greece, Spain, France, Poland, Armenia, Azerbaijan, Turkey and United Arab Emirates. The Company also has subsidiaries in the United States which include a broker-dealer that is registered with the United States Securities and Exchange Commission ("SEC") and the Financial Industry Regulatory Authority ("FINRA"). The Company's common stock trades on the Nasdaq Capital Market, the Kazakhstan Stock Exchange ("KASE") and the Astana International Exchange ("AIX"). As of December 31, 2023, the Company owned directly, or through subsidiaries, the following companies:
Name of subsidiary |  | Jurisdiction of Incorporation |  | Number of subsidiaries | Business Area
Freedom Finance JSC ("Freedom KZ") |  | Kazakhstan |  | 3 | Securities broker-dealer
Freedom Finance Global PLC ("Freedom Global") |  | Kazakhstan |  | — | Securities broker-dealer
Bank Freedom Finance Kazakhstan JSC ("Freedom Bank KZ") |  | Kazakhstan |  | 1 | Commercial bank
Freedom Finance Life JSC ("Freedom Life") |  | Kazakhstan |  | — | Life/health insurance
Freedom Finance Insurance JSC ("Freedom Insurance") |  | Kazakhstan |  | — | General insurance
Ticketon Events LLP ("Ticketon") |  | Kazakhstan |  | 3 | Online ticket sales
Freedom Finance Special Purpose Company LTD ("Freedom SPC") |  | Kazakhstan |  | — | Issuance and placement of debt securities
Freedom Finance Commercial LLP |  | Kazakhstan |  | — | Sales consulting
ITS Tech Limited |  | Kazakhstan |  | — | IT support
Freedom Technologies LLP ("Paybox") |  | Kazakhstan |  | 5 | Payment services
Aviata LLP ("Aviata") |  | Kazakhstan |  | — | Online travel ticket aggregator
Internet-Tourism LLP ("Internet Tourism) |  | Kazakhstan |  | — | Online travel ticket aggregator
Arbuz Group LLP ("Arbuz") |  | Kazakhstan |  | 3 | Online retail trade and e-commerce
Comrun LLP ("ReKassa") |  | Kazakhstan |  | — | Mobile and web application
Freedom Telecom Holding Limited ("Freedom Telecom") |  | Kazakhstan |  | 2 | Telecommunications
Freedom Kazakhstan PC Ltd |  | Kazakhstan |  | 6 | Non-financial
Freedom Advertising Ltd |  | Kazakhstan |  | — | Advertising
Freedom Shapagat Corporate Fund |  | Kazakhstan |  | — | Non-profit
FRHC Fractional SPC LTD |  | Kazakhstan |  | — | Issuance and placement of debt securities
Foreign Enterprise LLC Freedom Finance |  | Uzbekistan |  | — | Securities broker-dealer
Freedom Finance Armenia LLC ("Freedom AR") |  | Armenia |  | — | Securities broker-dealer
Freedom Finance Azerbaijan LLC |  | Azerbaijan |  | — | Financial educational center
Freedom Finance FZE. |  | UAE |  | — | Office of international organization
Freedom Management Ltd. |  | UAE |  | — | Consulting
Freedom Finance Turkey LLC |  | Turkey |  | — | Financial consulting
Freedom Finance Europe Limited ("Freedom EU") |  | Cyprus |  | 2 | Securities broker-dealer
Freedom Finance Technologies Ltd |  | Cyprus |  | — | IT development
Freedom Property Ltd |  | Cyprus |  | — | Asset management
Freedom Finance Germany GmbH |  | Germany |  | — | Tied agent of Freedom EU
Freedom Prime UK Limited ("Prime UK") |  | UK |  | — | Management consulting
Freedom Structured Products PLC |  | Cyprus |  | — | Financial services
Prime Executions, Inc. ("PrimeEx") |  | USA |  | — | Securities broker-dealer and investment banking
FFIN Securities, Inc. |  | USA |  | — | Dormant
Freedom U.S. Market LLC |  | USA |  | 1 | Management company
LD Micro ("LD Micro") |  | USA |  | — | Event platform
As at December 31, 2023 the Company owns a 9% interest in Freedom Finance Ukraine LLC, a Kiev, Ukraine-based broker-dealer ("Freedom UA"). The remaining 91% interest in Freedom UA is controlled by Askar Tashtitov, the Company's president. The Company entered into a series of contractual arrangements with Freedom UA and Mr. Tashtitov, including a consulting services agreement, an operating agreement and an option agreement. On October 19, 2022, Freedom UA's brokerage license was suspended for a period of five years and its assets were frozen by the Ukrainian authorities following its inclusion on a sanctions list of the Ukrainian government. Given the ongoing uncertainty surrounding the situation in Ukraine, the management of the Company believes that as of December 31, 2023 the Company does not maintain effective control over Freedom UA. Through its subsidiaries, the Company is a professional participant, with a license to provide one or more types of services, on a number of stock exchanges, including the Kazakhstan Stock Exchange (KASE), the Astana International Stock Exchange (AIX), the Republican Stock Exchange of Tashkent (UZSE) and the Uzbek Republican Currency Exchange (UZCE) and is a member of the New York Stock Exchange (NYSE) and the Nasdaq Stock Exchange (Nasdaq). The Company also owns a 24.3% interest in the Ukrainian Exchange (UX). Freedom EU provides the Company's clients with operational support and access to investment opportunities in the United States and European securities markets.

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- Definition The entire disclosure for the business description and basis of presentation concepts. Business description describes the nature and type of organization including but not limited to organizational structure as may be applicable to holding companies, parent and subsidiary relationships, business divisions, business units, business segments, affiliates and information about significant ownership of the reporting entity. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 235 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//235/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 275 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//275/tableOfContent Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//205/tableOfContent + Details
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