Mass investment of the public in government and other securities in Ukraine would be possible only in two or three years after building the required market infrastructure, CEO of Freedom Holding Timur Turlov has said, based on the experience of operation in Kazakhstan. “In the next two to three years, we will be focused on building our infrastructure, so that we now have hundreds of thousands of people who will invest in government securities,” he said at the Expert Talk meeting organized by the European Business Association (EBA) on Wednesday.
Turlov expressed the hope that over this period, investors will accumulate experience and confidence in the securities market, and they will increase interest in risks. In his opinion, this will make it possible to bring not only domestic government loan bonds to the market, but also other more risky, but also more profitable tools.
“For the development of the market, big initiative and sufficiently long and significant investments of market players are important for the appearance of infrastructure,” Turlov said. He added that investing in investor education and financial literacy is also needed.
Based on the positive experience of entering the securities market in Kazakhstan, he said that such a retail business could cost billions of U.S. dollars in the next five or seven years, but a long planning horizon is required to build it.
Freedom Holding Corporation is an international financial holding company registered in Nevada (the United States), which shares will start trading on October 15 at NASDAQ.