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RELATED PARTY TRANSACTIONS
 6 Months Ended
Sep. 30, 2025
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS
Related party transactions as of September 30, 2025 and March 31, 2025, consisted of the following:

September 30, 2025March 31, 2025
Related party balancesTotal category as per financial statements captionsRelated party balancesTotal category as per financial statements captions
ASSETS
Cash and cash equivalents$17,640 $635,975 $2,233 $837,302 
Companies controlled by management17,640 2,233 
Restricted cash$52,628 $1,312,229 $30 $807,468 
Companies controlled by management52,628 30 
Investment securities$1,080 $2,511,419 $1,174 $2,814,733 
Companies controlled by management1,080 1,174 
Margin lending, brokerage and other receivables, net$11,245 $3,528,382 $41,308 $3,319,145 
Management10,146 10,080 
Companies controlled by management1,094 31,228 
Other
5 — 
Loans issued$225,217 $1,750,575 $188,445 $1,595,435 
Management433 291 
Companies controlled by management224,784 188,154 
Other assets, net$20,568 $188,603 $18,994 $168,541 
Management41 486 
Companies controlled by management20,527 18,508 
LIABILITIES
Customer liabilities$85,146 $5,759,636 $48,161 $4,304,999 
Management23,748 13,827 
Companies controlled by management59,720 32,607 
Other1,678 1,727 
Margin lending and trade payables$632 $507,734 $1,307 $1,322,241 
Management184 201 
Companies controlled by management448 1,106 
Liabilities from insurance activity$9,755 $520,220 $5,960 $481,539 
Companies controlled by management9,755 5,960 
Other liabilities$289 $225,852 $2,339 $129,737 
Management29 1,281 
Companies controlled by management260 1,057 
Other— 1 
Three Months Ended September 30, 2025Three Months Ended September 30, 2024
Related party amountsTotal category as per financial statements captionsRelated party amountsTotal category as per financial statements captions
Revenue:
Fee and commission income$1,399 $132,238 $837 $121,051 
Management150 290 
Companies controlled by management1,245 543 
Other4 4 
Interest income$1,183 $211,662 $375 $210,324 
Management1,010 215 
Companies controlled by management173 160 
Insurance premiums earned, net of reinsurance
$1,403 $125,228 $153 $160,344 
Management6 1 
Companies controlled by management1,396 152 
Other1 — 
Expense:
Fee and commission expense$1,141 $64,162 $374 $90,837 
Companies controlled by management1,141 374 
Interest expense$485 $102,259 $459 $124,665 
Management131 119 
Companies controlled by management340 332 
Other14 8 
Advertising and sponsorship expense$4,892 $27,502 $4,644 $32,433 
Companies controlled by management4,892 4,644 
Six Months Ended September 30, 2025Six Months Ended September 30, 2024
Related party amountsTotal category as per financial statements captionsRelated party amountsTotal category as per financial statements captions
Revenue:
Fee and commission income2,083 239,880 1,703 236,540 
Management297 509 
Companies controlled by management1,778 1,188 
Other8 6 
Interest income1,766 410,233 644 436,328 
Management1,276 419 
Companies controlled by management490 225 
Insurance premiums earned, net of reinsurance7,330 278,485 1,302 289,752 
Management17 4 
Companies controlled by management7,310 652 
Other3 646 
Expense:
Fee and commission expense2,552 149,033 532 170,984 
Management1 — 
Companies controlled by management2,551 532 
Interest expense$921 215,669 $841 270,383 
Management241 228 
Companies controlled by management653 600 
Other27 13 
Advertising and sponsorship expense$10,405 51,965 $6,689 54,329 
Companies controlled by management10,405 6,689 
    
As of September 30, 2025 and March 31, 2025, the Group had loans issued which included uncollateralized bank customer loans purchased from FFIN Credit, a company outside of the Group which is controlled by Timur Turlov.
As of September 30, 2025, 47% of the Group's total related party other assets consisted of a prepayment to Freedom Data Centers LLP (formerly, Freedom Telecom LLP) for the potential acquisition of A-Telecom LLP compared to 52% as of March 31, 2025. The potential acquisition of A-Telecom LLP is part of the Group’s strategy to expand its presence in the telecommunications market in Kazakhstan and to develop a digital fintech ecosystem. Freedom Data Centers LLP is considered a related party based on the scale of its economic transactions with the Group.
As of September 30, 2025, 7% of the Group's total related party customer liabilities were bank deposits from Turlov Family Office Securities (PTY) LTD held with Freedom Bank KZ, compared to 13% as of March 31, 2025. Turlov Family Office Securities (PTY) LTD is a private securities brokerage company that is wholly owned by Mr. Timur Turlov. Additionally, 32% of the Group's total related party customer liabilities as of September 30, 2025 were from a private company ITS Central Securities Depository Limited, compared to 1% as of March 31, 2025. Private company ITS Central Securities Depository Limited is a subsidiary of International Trading System Limited, an affiliate of the Group.
As of both September 30, 2025 and March 31, 2025, 99.7% of the Group's total related party liabilities from insurance activity were liabilities from FFIN Credit. The Group provides voluntary credit risk insurance covering losses arising from borrower defaults on microloan agreements originated by FFIN Credit. In addition, during the three months ended September 30, 2025, the Group recognized $1,327 insurance premiums earned, net of reinsurance, from such insurance services, compared to $94 recognized during the three months ended September 30, 2024. For the six months ended September 30, 2025 and 2024, the Group recognized $6,789 and $94, respectively.
The Group continues to support the development of chess and football in Kazakhstan. During the three months ended September 30, 2025, the Group incurred advertising and sponsorship expense from Kazakhstan Chess Federation in the amount of $851 and from Freedom Youth Football League of Kazakhstan in the amount of $2,730, compared to $4,308 and $336, respectively, during the three months ended September 30, 2024. For the six months ended September 30, 2025, advertising and sponsorship expense amounted to $2,459 for the Kazakhstan Chess Federation and $5,256 for the Freedom Youth Football League of Kazakhstan, compared to $6,353 and $336, respectively, for the six months ended September 30, 2024.. Kazakhstan Chess Federation is a Kazakhstan-based company in which Timur Turlov holds a management position. Freedom Youth Football League of Kazakhstan is a Kazakhstan-based company fully owned by Turlov Private Holding, in which Timur Turlov holds 99.9% of the shares. The sponsorship contributions to the Kazakhstan Chess Federation and Freedom Youth Football League of Kazakhstan during the three months ended September 30, 2025 were made to support the preparation and holding of championships, tournaments, training camps and other events.