EXHIBIT 21.01

LIST OF SUBSIDIARIES

    Listed below are our subsidiaries, our percentage ownership in each subsidiary and the total number of subsidiaries directly or indirectly owned by each of our subsidiaries.

Subsidiary Name and Jurisdiction of Formation						Our % Ownership						U.S. Subsidiaries of our Subsidiaries						Non-U.S. Subsidiaries of our Subsidiaries
Freedom Finance JSC, Kazakhstan						100%						-						3
Freedom Bank Kazakhstan JSC, Kazakhstan(1)						100%						-						1
Life Insurance Company Freedom Finance Life JSC(1)						100%						-						-
Insurance Company Freedom Finance Insurance JSC(1)						100%						-						-
Freedom Finance Europe Limited, Cyprus						100%						-						2
Freedom Property Ltd., Cyprus						100%						-						-
Freedom Finance Germany GmbH, Germany(2)						100%						-						-
Freedom Finance Technologies Ltd, Cyprus						100%						-						-
Freedom Structured Products PLC, Cyprus						100%						-						-
UK Prime Limited, United Kingdom						100%						-						-
Freedom Finance Uzbekistan LLC, Uzbekistan						100%						-						-
Freedom Finance Azerbaijan LLC, Azerbaijan						100%						-						-
Freedom Finance Armenia LLC, Armenia						100%						-						-
Freedom Finance Ltd., United Arab Emirates						100%						-						-
Freedom Management Ltd., United Arab Emirates						100%						-						-
Freedom Finance Global PLC, Astana International Financial Centre						100%						-						-
Freedom Finance Special Purpose Company LTD, Kazakhstan						100%						-						-
Freedom Kazakhstan PC Ltd, Kazakhstan						100%						-						6
Ticketon Events LLP, Kazakhstan(4)						100%						-						3
Paybox Technologies LLP, Kazakhstan(4)						100%						-						5
FRHC Fractional SPC LTD, Kazakhstan(4)						100%						-						-
Freedom Telecom Holding Limited, Kazakhstan(4)						100%						-						3
Comrun LLP, Kazakhstan(4)						90%						-						-
Freedom Advertising Ltd, Kazakhstan(4)						100%						-						-
Aviata LLP, Kazakhstan(4)						100%						-						-
Internet-Tourism LLP, Kazakhstan(4)						100%						-						-
Freedom U.S. Market LLC, New York, USA						100%						1						-
LD Micro, New York, USA(5)						100%						-						-

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Freedom Finance Turkey LLC, Kazakhstan						100%						-						-
ITS Tech Limited, Kazakhstan						100%						-						-
Freedom Finance Commercial LLP, Kazakhstan						100%						-						-
Prime Executions, Inc., New York, USA						100%						-						-
FFIN Securities, Inc., Nevada, USA*						100%						-						-
Arbuz Group LLC, Kazakhstan						94.73%						-						3
Freedom Horizons LLP, Kazakhstan						100%						-						-
Freedom Shapagat Corporate Fund, Kazakhstan						100%						-						-
Holding Operations LLP, Kazakhstan						100%						-						-

(1) Freedom Finance JSC owns a 100% interest in each of: Bank Freedom Finance Kazakhstan JSC; Life Insurance Company Freedom Finance Life JSC; and Insurance Company Freedom Finance Insurance JSC.

(2) Freedom Finance Europe Limited owns a 100% interest in Freedom Finance Germany GmbH.

(3) Askar Tashtitov, the President and a director of the Freedom Holding Corp, owns the remaining 91% interest in Freedom Finance Ukraine. As a result of a series of contractual relationships between the Freedom Holding Corp and Freedom Finance Ukraine, it is accounted for as a variable interest entity and its financial results are consolidated into the financial statements of Freedom Holding Corp.

(4) Freedom Kazakhstan PC Ltd owns a 100% interest in each of: Ticketon Events LLP; Paybox Technologies LLP, FRHC Fractional SPC LTD, Freedom Telecom Holding Limited, Freedom Advertising Ltd, Aviata LLP, Internet-Tourism LLP. Additionally, Freedom Kazakhstan PC Ltd owns a 90% interest in Comrun LLP.

(5) Freedom U.S. Market LLC owns a 100% interest in LD Micro.

*     Indicates entities that are not currently engaged in active operations.