Freedom Holding (FRHC) 10-K 4 Aug 23 2023 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Mar. 31, 2023	Aug. 01, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Mar. 31, 2023
Current Fiscal Year End Date	--03-31
Document Transition Report	false
Entity File Number	001-33034
Entity Registrant Name	FREEDOM HOLDING CORP.
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	30-0233726
Entity Address, Address Line One	“Esentai Tower” BC, Floor 7
Entity Address, Address Line Two	77/7 Al Farabi Ave
Entity Address, City or Town	Almaty
Entity Address, Country	KZ
Entity Address, Postal Zip Code	050040
City Area Code	+7 727
Local Phone Number	311 10 64
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	FRHC
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float	$ 791,519,572
Entity Common Stock, Shares Outstanding		59,659,191
Entity Central Index Key	0000924805
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Auditor Information [Abstract]
Auditor firm ID	1056	374
Auditor name	Deloitte LLP	WSRP, LLC
Auditor location	Almaty, Kazakhstan	Salt Lake City, Utah

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
ASSETS
Cash and cash equivalents (including $35,549 and $22,787 from related parties)	$ 581,417	$ 225,464
Restricted cash (including $114,885 and $222,651 from related parties)	445,528	547,950
Trading securities	2,412,556	1,158,377
Available-for-sale securities, at fair value	239,053	161,364
Margin lending, brokerage and other receivables, net (including $294,985 and $107,649 from related parties)	376,329	147,659
Loans issued (including $121,177 and $35,293 from related party)	826,258	92,446
Fixed assets, net	54,017	17,823
Intangible assets, net	17,615	5,163
Goodwill	14,192	5,898
Right-of-use asset	30,345	7,431
Insurance contract assets	13,785	5,712
Other assets, net (including $16,089 and $— from related party)	73,463	29,641
Assets held for sale	0	825,419
Total assets	5,084,558	3,230,347
LIABILITIES AND SHAREHOLDERS' EQUITY
Securities repurchase agreement obligations	1,517,416	840,224
Customer liabilities (including $130,210 and $325,904 from related parties)	1,925,247	765,628
Margin lending and trade payables (including $3,239 and $38,889 to related parties)	122,900	45,083
Liabilities from insurance activity	182,502	122,087
Current income tax liability	4,547	14,556
Securities sold, not yet purchased - at fair value	0	13,865
Debt securities issued	60,025	34,390
Lease liability	30,320	7,504
Payable for acquisition	7,188	0
Liability arising from continuing involvement	440,805	6,447
Other liabilities	22,872	21,477
Liabilities held for sale	0	812,478
Total liabilities	4,313,822	2,683,739
Commitments and Contingent Liabilities (Note 31)	0	0
SHAREHOLDERS' EQUITY
Preferred stock - $0.001 par value; $20,000,000 shares authorized, no shares issued or outstanding	0	0
Common stock - $0.001 par value; 500,000,000 shares authorized; 59,659,191 and 59,542,212 shares issued and outstanding as of March 31, 2023 and March 31, 2022, respectively	59	59
Additional paid in capital	164,162	174,745
Retained earnings	647,064	441,924
Accumulated other comprehensive loss	(34,000)	(63,125)
TOTAL FRHC SHAREHOLDERS’ EQUITY	777,285	553,603
Non-controlling interest	(6,549)	(6,995)
TOTAL SHAREHOLDERS' EQUITY	770,736	546,608
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 5,084,558	$ 3,230,347

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Restricted cash, related parties	$ 445,528	$ 547,950
Margin lending, brokerage and other receivables, related parties	376,329	147,659
Loans issued, related parties	826,258	92,446
Other assets, related parties	73,463	29,641
Deposit liabilities, related parties	130,210	325,904
Margin lending and trade payables, related parties	$ 122,900	$ 45,083
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized (in shares)	20,000,000	20,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	500,000,000	500,000,000
Common stock, issued (in shares)	59,659,191	59,542,212
Common stock, outstanding (in shares)	59,659,191	59,542,212
Related party
Cash and cash equivalents, related parties	$ 35,549	$ 22,787
Margin lending, brokerage and other receivables, related parties	294,985	107,649
Loans issued, related parties	121,177	35,293
Other assets, related parties	16,089	0
Margin lending and trade payables, related parties	$ 3,239	$ 38,889

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND STATEMENTS OF OTHER COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Revenue:
Fee and commission income (including $199,235, $291,163 and $184,725 from related parties)	$ 327,215	$ 335,211	$ 216,008
Net gain on trading securities	71,084	155,252	28,807
Interest income	294,695	121,609	38,474
Insurance underwriting income	115,371	72,981	62,951
Net gain on foreign exchange operations	52,154	3,791	557
Total net (loss)/gain on derivatives	(64,826)	946	86
TOTAL REVENUE, NET	795,693	689,790	346,883
Expense:
Fee and commission expense (including $2,988, $16,307 and $20,291 from related parties)	65,660	85,909	70,537
Interest expense:	208,947	76,947	22,444
Insurance claims incurred, net of reinsurance	77,329	54,447	52,405
Payroll and bonuses	81,819	46,288	23,435
Professional services	17,006	12,682	4,430
Stock compensation expense	9,293	7,859	114
Advertising expense	14,059	11,916	6,971
General and administrative expense	59,971	23,533	11,118
Provision for impairment losses	29,119	2,502	1,590
Other (income)/expense, net	(3,448)	4,014	2,034
TOTAL EXPENSE	559,755	326,097	195,078
NET INCOME BEFORE INCOME TAX	235,938	363,693	151,805
Income tax expense	(42,776)	(38,570)	(23,307)
INCOME FROM CONTINUING OPERATIONS	193,162	325,123	128,498
Income/(loss) before income tax (expense)/benefit of discontinued operations	68,160	(117,199)	28,518
Reclassification of loss from cumulative translation adjustment of discontinued operations	(25,415)	0	0
Loss from divestiture of discontinued operations	(26,118)	0	0
Income tax benefit/(expense) of discontinued operations	(4,203)	13,004	(6,735)
Income/(loss) from discontinued operations	12,424	(104,195)	21,783
NET INCOME	205,586	220,928	150,281
Less: Net income/(loss) attributable to non-controlling interest in subsidiary	446	(6,566)	631
NET INCOME ATTRIBUTABLE TO CONTROLLING INTEREST	205,140	227,494	149,650
OTHER COMPREHENSIVE INCOME
Change in unrealized gain on investments available-for-sale, net of tax effect	1,431	(4,292)	(304)
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect	(2,916)	2,222	2,092
Reclassification of loss from cumulative translation adjustment of discontinued operations	25,415	0	0
Foreign currency translation adjustments, net of tax effect	5,195	(20,622)	2,787
OTHER COMPREHENSIVE INCOME/(LOSS)	29,125	(22,692)	4,575
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS	234,711	198,236	154,856
Less: Comprehensive income/(loss) attributable to non-controlling interest in subsidiary	446	(6,566)	631
COMPREHENSIVE INCOME ATTRIBUTABLE TO CONTROLLING INTEREST	$ 234,265	$ 204,802	$ 154,225
Earnings from continuing operations per common share - basic	$ 3.29	$ 5.59	$ 2.19
Earnings from continuing operations per common share - diluted	3.24	5.59	2.19
Earnings/(loss) from discontinued operations per common share - basic	0.21	(1.75)	0.37
Earnings/(loss) from discontinued operations per common share - diluted	0.21	(1.75)	0.37
Earnings per common share - basic (USD per share)	3.50	3.84	2.56
Earnings per common share - diluted (USD per share)	$ 3.45	$ 3.84	$ 2.56
Weighted average number of shares (basic) (in shares)	58,629,580,000	59,378,207,000	58,388,445,000
Weighted average number of shares (diluted) (in shares)	59,504,811,000	59,378,207,000	58,442,921,000

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND STATEMENTS OF OTHER COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Fee and commission income, related parties	$ 327,215	$ 335,211	$ 216,008
Interest income, related parties	294,695	121,609	38,474
Fee and commission expense, related parties	65,660	85,909	70,537
Related party
Fee and commission income, related parties	199,235	291,163	184,725
Interest income, related parties	23,191	10,191	2,250
Fee and commission expense, related parties	$ 2,988	$ 16,307	$ 20,291

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional paid in capital	Retained earnings	Accumulated other comprehensive loss	Total equity attributable to the shareholders	Non-controlling interest
Shares issued, beginning of period (in shares) at Mar. 31, 2020		58,358,212,000
Equity, beginning of period at Mar. 31, 2020	$ 149,369	$ 58	$ 131,811	$ 64,780	$ (45,008)	$ 151,641	$ (2,272)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock based compensation (in shares)		15,000,000
Stock based compensation	1,147		1,147			1,147
Share based payment (in shares)		10,000,000
Share based payment	517		517			517
Exercise of options (in shares)		60,000,000
Exercise of options	118		118			118
Capital contribution of Shareholder	1,667		1,667			1,667
Other comprehensive reserve	2,092
Other comprehensive reserve	1,788				1,788	1,788
Foreign currency translation adjustments, net of tax effect	2,787				2,787	2,787
Net income	150,281			149,650		149,650	631
Shares issued, end of period (in shares) at Mar. 31, 2021		58,443,212,000
Equity, end of period at Mar. 31, 2021	307,674	$ 58	135,260	214,430	(40,433)	309,315	(1,641)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock based compensation (in shares)		1,039,000,000
Stock based compensation	15,746	$ 1	15,745			15,746
Exercise of options (in shares)		60,000,000
Exercise of options	119		119			119
Capital contribution of Shareholder	24,417		24,417			24,417
Other comprehensive reserve	2,222
Sale of Freedom UA shares	416		(796)			(796)	1,212
Other comprehensive reserve	(2,070)				(2,070)	(2,070)
Foreign currency translation adjustments, net of tax effect	(20,622)				(20,622)	(20,622)
Net income	220,928			227,494		227,494	(6,566)
Shares issued, end of period (in shares) at Mar. 31, 2022		59,542,212,000
Equity, end of period at Mar. 31, 2022	546,608	$ 59	174,745	441,924	(63,125)	553,603	(6,995)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock based compensation (in shares)		57,216,000
Stock based compensation	11,038		11,038			11,038
Exercise of options (in shares)		59,763,000
Capital contribution of Shareholder	677		677			677
Other comprehensive reserve	(2,916)
Issuance of shares of common stock	4,290		4,290			4,290
Acquisition of insurance companies	(26,588)		(26,588)			(26,588)
Other comprehensive reserve	(1,485)				(1,485)	(1,485)
Reclassification of loss from cumulative translation adjustment of discontinued operations	25,415			0	25,415	25,415
Foreign currency translation adjustments, net of tax effect	5,195				5,195	5,195
Net income	205,586
Net income	205,586			205,140		205,140	446
Shares issued, end of period (in shares) at Mar. 31, 2023		59,659,191,000
Equity, end of period at Mar. 31, 2023	$ 770,736	$ 59	$ 164,162	$ 647,064	$ (34,000)	$ 777,285	$ (6,549)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Cash Flows From Operating Activities
Net income	$ 205,586	$ 220,928	$ 150,281
Net income/(loss) from discontinued operations	12,424	(104,195)	21,783
Net income from continuing operations	193,162	325,123	128,498
Adjustments to reconcile net income used in operating activities:
Depreciation and amortization	5,138	3,416	2,688
Noncash lease expense	5,113	3,546	2,573
Subsidiaries goodwill impairment	0	832	0
Change in deferred taxes	(811)	(4,681)	1,651
Stock compensation expense	9,293	7,859	114
Share based payment	0	0	517
Unrealized (gain)/loss on trading securities	(107,310)	50,987	(8,672)
Unrealized (gain)/loss on derivatives	(12)	0	0
Net realized (gain)/loss on available-for-sale securities	(2,934)	2,222	2,092
Net change in accrued interest	(56,478)	(15,940)	(14,947)
Change in insurance reserves	50,671	37,087	52,712
Allowances for receivables	29,119	2,502	1,590
Changes in operating assets and liabilities:
Trading securities	(1,019,191)	(608,622)	(466,591)
Margin lending, brokerage and other receivables (including $(187,336), $(97,783), and $54,973 changes from related parties)	(253,301)	(103,756)	20,972
Insurance contract assets	3,217	(2,316)	(1,033)
Other assets	(12,302)	(9,468)	(8,809)
Securities sold, not yet purchased – at fair value	(13,865)	5,296	8,508
Brokerage customer liabilities (including $(195,694), $90,444, and $224,173 changes from related parties)	105,942	(23,167)	432,245
Current income tax liability	(10,019)	357	11,571
Margin lending and trade payables (including $(35,650), $25,079, and $9,504 changes from related parties)	163,763	26,062	16,506
Lease liabilities	(5,284)	(3,670)	(2,378)
Liabilities from insurance activity	(10,769)	1,982	760
Other liabilities	(730)	10,484	1,813
Net cash flows used in operating activities from continuing operations	(927,588)	(293,865)	182,380
Net cash flows from/(used in) operating activities from discontinued operations	(24,095)	(112,500)	347,017
Net cash flows used in operating activities	(951,683)	(406,365)	529,397
Cash Flows From/(Used by) Investing Activities
Purchase of fixed assets	(38,542)	(5,623)	(1,518)
Proceeds from sale of fixed assets	0	0	15
Net change in loans issued to customers	(715,038)	(86,376)	(1,120)
Purchase of available-for-sale securities, at fair value	(330,095)	(248,739)	(273,818)
Proceeds from sale of available-for-sale securities, at fair value	260,634	198,798	190,344
Cash received from divestiture of Russian subsidiaries	51,506	0	0
Prepayment on acquisitions	(22,462)	0	0
Consideration paid for LD Micro	(4,000)	0	0
Consideration paid for Zerich	0	0	(7,110)
Consideration paid for PrimeEx	0	0	(2,500)
Consideration paid for Freedom Bank KZ	0	0	(53,097)
Consideration paid for acquisition of London Almaty	(13,652)	0	0
Consideration paid for acquisition of Freedom Life and Freedom Insurance	(26,588)	0	0
Consideration paid for Paybox	(11,617)	0	0
Cash, cash equivalents and restricted cash received from acquisitions	16,348	0	157,382
Net cash flows used in investing activities from continuing operations	(833,506)	(141,940)	8,578
Net cash flows used in investing activities from discontinued operations	(629,738)	(4,383)	(2,232)
Net cash flows used in investing activities	(1,463,244)	(146,323)	6,346
Cash Flows From Financing Activities
Proceeds from securities repurchase agreement obligations	637,392	427,619	383,346
Proceeds from issuance of debt securities	45,946	13,200	3,626
Repurchase of debt securities	(23,387)	(9,988)	(8,350)
Repurchase of mortgage loans under the State Program	(14,806)	(146)	0
Funds received under state program for financing of mortgage loans	435,713	7,022	0
Net change in bank customer deposits	1,011,147	141,497	8,234
Proceeds from loans received	0	0	3,300
Repayment of loans received	(4,867)	0	0
Capital contributions	677	0	1,667
Exercise of options	0	119	118
Net cash flows from financing activities from continuing operations	2,087,815	579,323	391,941
Net cash flows from financing activities from discontinued operations	45,566	39,205	100,582
Net cash flows from financing activities	2,133,381	618,528	492,523
Effect of changes in foreign exchange rates on cash and cash equivalents and restricted cash from continued operations	43,689	(14,132)	(477)
Effect of changes in foreign exchange rates on cash and cash equivalents and restricted cash from discontinued operations	34,502	(40,288)	(5,652)
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(203,355)	11,420	1,022,137
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD FROM CONTINUING OPERATIONS	773,414	659,495	86,382
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD FROM DISCONTINUED OPERATIONS	456,886	559,385	110,361
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD	1,230,300	1,218,880	196,743
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD FROM CONTINUING OPERATIONS	1,026,945	773,414	659,495
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD FROM DISCONTINUED OPERATIONS	0	456,886	559,385
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	1,026,945	1,230,300	1,218,880
Supplemental disclosure of cash flow information:
Cash paid for interest	199,371	37,851	19,098
Income taxes paid	53,180	44,473	10,999
Supplemental non-cash disclosures:
Operating lease right-of-use assets obtained in exchange for operating lease obligations on adoption of new lease standard	0	0	0
Operating lease right-of-use assets obtained/disposed of in exchange for operating lease obligations during the period, net	23,586	7,314	1,643
Cash and cash equivalents (including $35,549 and $22,787 from related parties)	581,417	225,464	168,804
Restricted cash	445,528	547,950	490,691
Total cash, cash and cash equivalents and restricted cash shown in the statement of cash flows	$ 1,026,945	$ 773,414	$ 659,495

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS - Parenthetical (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Statement of Cash Flows [Abstract]
Increase (decrease) in margin lending, brokerage and other receivables, related parties	$ 187,336	$ 97,783	$ (54,973)
Increase (decrease) in margin lending, brokerage and other payables, related parties	(35,650)	25,079	9,504
Brokerage customer liabilities (including $(195,694), $90,444, and $224,173 changes from related parties)	105,942	(23,167)	432,245
Increase (decrease) in derivative assets and liabilities, related parties	$ 195,694	$ (90,444)	$ (224,173)

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	12 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	DESCRIPTION OF BUSINESS Overview Freedom Holding Corp. (the "Company" or "FRHC") 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 Company has retail locations in Kazakhstan, Ukraine, Uzbekistan, Kyrgyzstan, Cyprus, Germany, the United Kingdom, Greece, Spain, France and Armenia. The Company also has subsidiaries in the United States which include a broker-dealer that is registered with the U.S. Securities and Exchange Commission ("SEC") and Financial Industry Regulatory Authority ("FINRA"). The Company's common stock trades on the Nasdaq Capital Market, Kazakhstan Stock Exchange (KASE) and Astana International Exchange (AIX). As of March 31, 2023, the Company owned directly, or through subsidiaries, the following companies: • Freedom Finance JSC, an Almaty, Kazakhstan-based securities broker-dealer ("Freedom KZ"); • Freedom Finance Global PLC, an Astana International Financial Centre-based securities broker-dealer ("Freedom Global"); • Bank Freedom Finance Kazakhstan JSC, an Almaty, Kazakhstan-based bank ("Freedom Bank KZ"); • Freedom Finance Life JSC, an Almaty, Kazakhstan-based life/health insurance company ("Freedom Life"); • Freedom Finance Insurance JSC, an Almaty, Kazakhstan-based general insurance company ("Freedom Insurance"); • Freedom Finance Special Purpose Company LTD, an Astana International Financial Centre-based special purpose company ("Freedom SPC"); • Freedom Finance Commercial LLP, a Kazakhstan-based sales consulting company ("Freedom Commercial"); • Freedom Finance Europe Limited, a Limassol, Cyprus-based broker-dealer ("Freedom EU"); • Freedom Finance Technologies Ltd, a Limassol, Cyprus-based IT development company ("Freedom Technologies"); • Freedom Finance Germany GmbH, a Berlin, Germany-based tied agent of Freedom EU ("Freedom GE"); • Freedom UK Prime Limited, a London, United Kingdom-based financial intermediary company ("Prime UK"); • Foreign Enterprise LLC Freedom Finance, a Tashkent, Uzbekistan-based broker-dealer ("Freedom UZ"); • Freedom Finance Azerbaijan LLC, an Azerbaijan-based financial educational center ("Freedom AZ"); • Freedom Finance Armenia LLC, an Armenia-based broker-dealer ("Freedom AR"); • Prime Executions, Inc., a New York City, New York-based NYSE institutional brokerage, that is also authorized to engage in certain capital markets and investment banking activities ("PrimeEx"); • FFIN Securities, Inc., a currently-dormant Nevada corporation ("FFIN"); • Freedom Finance Ltd., a Dubai, United Arab Emirates-based financial intermediary company ("Freedom UAE"); • ITS Tech Limited, an Astana International Financial Centre-based, IT-support company ("ITS Tech"); • Freedom Kazakhstan PC Ltd, an Almaty, Kazakhstan-based non-financial company ("Freedom Kazakhstan PC Ltd.") • Ticketon Events LLP, an Almaty, Kazakhstan-based online ticket sales company ("Ticketon"); • Freedom Finance Turkey LLC, an Istanbul, Turkey-based financial consulting company ("Freedom TR"); • Paybox Technologies LLP, an Almaty, Kazakhstan-based payment company ("Paybox"); • Freedom U.S. Market LLC, a New York City, New York-based management company of Freedom’s U.S. Operations ("FUSM"); and • LD Micro, a New York City, a pre-eminent event platform which hosts two premier small and micro-cap world conferences annually ("LD Micro"). The Company also 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 has 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. Because such agreements obligate the Company to guarantee the performance of all Freedom UA obligations and provide Freedom UA sufficient funding to cover all Freedom UA operating losses and net capital requirements, enable the Company to receive 90% of the net profits of Freedom UA after tax, and require the Company to provide Freedom UA the management competence, operational support, and ongoing access to the Company's significant assets, necessary technology resources and expertise to conduct the business of Freedom UA, the Company determined that Freedom UA is a variable interest entity ("VIE") and that the Company is the primary beneficiary. Accordingly, the Company consolidated Freedom UA into the financial statements of the Company. Prior to July 2021, the Company owned approximately 32.9% of Freedom UA, but due to changes to Ukrainian regulations to restrict foreign ownership of registered Ukrainian broker-dealers, in July 2021, the Company was required to sell approximately 23.9% of its equity interest in Freedom UA to Mr. Tashtitov, reducing the Company's direct ownership interest in Freedom UA to approximately 9%. On October 17, 2022, the Company entered into an agreement with Maxim Povalishin for the divestiture of 100% of the share capital of the companies comprising its Russian securities brokerage and complementary banking operations in Russia. Maxim Povalishin, the purchaser, was at the time of the transaction the Deputy General Director and a member of the Board of Directors of Investment Company Freedom Finance LLC. The transaction was approved by the Central Bank of the Russian Federation on February 10, 2023, and the divestiture was completed on February 28, 2023. For financial information regarding the Company's Russian subsidiaries see Note 30 " Assets and Liabilities held for sale " in the notes to our consolidated financial statements. In July 2022, Investment Company Freedom Finance LLC established a Russian subsidiary Freedom Finance Auto LLC. In January 2023, Investment Company Freedom Finance LLC concluded an agreement with Maxim Povalishin to sell Freedom Finance Auto LLC for RUB 50 million (approximately $695 thousand based on the applicable currency exchange rate on the reporting date). On February 7, 2023, the sale of Freedom Finance Auto LLC was completed. 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 Moscow Exchange (MOEX) the Ukrainian Exchange (UX), 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 UX. Freedom EU provides the Company's clients with operational support and access to investment opportunities in the U.S. and European securities markets. 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. The Company believes that the decision to include Freedom UA on such list was not justified and it is in the process of appealing such decision. Unless otherwise specifically or contextually indicated, the “Company” refers to FRHC, together with its consolidated subsidiaries.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting principles The Company's accounting policies and accompanying consolidated financial statements conform to accounting principles generally accepted in the United States of America (U.S. GAAP). Basis of presentation and principles of consolidation The consolidated financial statements present the consolidated accounts of FRHC and its consolidated subsidiaries. All inter-company balances and transactions have been eliminated from the consolidated financial statements. Consolidation of variable interest entities In accordance with accounting standards regarding consolidation of variable interest entities ("VIEs"), VIEs are generally entities that lack sufficient equity to finance their activities without additional financial support from other parties or whose equity holders lack adequate decision making ability. VIEs must be evaluated to determine the primary beneficiary of the risks and rewards of the VIE. The primary beneficiary is required to consolidate the VIE for financial reporting purposes. As of March 31, 2023 and 2022 and for the years ended March 31, 2023, 2022 and 2021, the only VIE of the Company was Freedom UA. The carrying amounts of the VIE’s consolidated assets and liabilities are as follows: March 31, 2023 March 31, 2022 Cash and cash equivalents 26 134 Restricted cash 1,936 2,843 Trading securities 4,010 2,942 Margin lending, brokerage and other receivables, net 1,616 435 Fixed assets, net 782 1,043 Intangible assets, net 131 205 Right-of-use asset 135 905 Other assets 56 127 Total assets $ 8,692 8,634 Customer liabilities 5,837 8,439 Securities repurchase agreement obligations 12 3,267 Trade payables 25 35 Lease liability 159 914 Other liabilities 298 434 Total liabilities $ 6,331 13,089 Freedom Securities Trading Inc ("FST Belize") The Company has performed an analysis of Variable Interest Entities (VIEs) to determine if it should consolidate FST Belize in accordance with accounting principles generally accepted in the United States of America (US GAAP). As part of this analysis, the Company considered if FST Belize meets the definition of a variable interest entity, if the Company holds a variable interest in FST Belize and ultimately whether it has the power to control the most significant activities of FST Belize. The Company concluded that FST Belize is not a variable interest entity because it has sufficient equity at risk to finance its activities without additional financial support and the control over its significant activities is held by its sole shareholder, Mr. Timur Turlov who is also the Company's controlling shareholder, chairman and chief executive officer. In addition, the Company concluded that the only potential variable interest it holds in FST Belize is the margin lending provided by the Company and that this margin lending does not expose the Company to variability associated with the operations of FST Belize because it is fully collateralized by liquid marketable securities under the Company’s custody for which the contractual arrangements allow the Company to sell to cover any losses in the margin lending.. Lastly, the Company also considered that it does not have the power to control FST Belize because it does not own any of the voting shares or other contractual arrangements that allow it to control its operations. Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management believes that the estimates utilized in preparing the Company's financial statements are reasonable and prudent. Actual results could differ from those estimates. Revenue and expense recognition Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers ("ASC Topic 606"), establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity's contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services promised to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied. A significant portion of the Company's revenue-generating transactions are not subject to ASC Topic 606, including revenue generated from financial instruments, such as loans and investment securities, as these activities are subject to other U.S. GAAP guidance discussed elsewhere within these disclosures. Descriptions of the Company's revenue-generating activities that are within the scope of ASC Topic 606, which are presented in the Consolidated Statements of Operations and Statements of Other Comprehensive Income as components of total revenue, net are as follows: • Commissions on brokerage services; • Commissions on banking services (money transfers, foreign exchange operations and other); and • Commissions on investment banking services (underwriting, market making, and bondholders' representation services). Gross Versus Net Revenue ASC 606 provides guidance on proper recognition of principal versus agent considerations which is used to determine gross versus net revenue recognition. Under ASC 606, the core objective of the guidance on gross versus net revenue recognition is to help determine whether the Company is a principal or an agent in a transaction. In general, the primary difference between these two is the performance obligation being satisfied. The principal has a performance obligation to provide the desired goods or services to the end customer, whereas the agent arranges for the principal to provide the desired goods or services. Additionally, a fundamental characteristic of a principal in a transaction is control. A principal substantively controls the goods and services before they are transferred to the customer as well as controls the price of the good or service being provided. An agent normally receives a commission or fee for these activities. In addition to control, the level at which the Company controls the price of the good or service being transferred determines principal versus agent status. The more discretion over setting price a company has in providing the good or service, the more likely they are considered a principal rather than an agent. In certain cases, other parties are involved with providing products and services to our customers. If the Company is principal in the transaction (providing goods or services itself), revenues are reported based on the gross consideration received from the customer and any related expenses are reported gross in non interest expense. If the Company is an agent in the transaction (arranging for another party to provide goods or services), the Company reports its net fee or commission retained as revenue. Interest income Interest income on margin loans, loans issued, trading securities, available-for-sale securities, and reverse repurchase agreement obligations are recognized based on the contractual provisions of the underlying arrangements. Loan premiums and discounts are deferred and generally amortized into interest income as yield adjustments over the contractual life and/or commitment period using the effective interest method. Unamortized premiums, discounts and other basis adjustments on trading securities are generally recognized in interest income over the contractual lives of the securities using the effective interest method. Loans The Company's loan portfolio is divided into: mortgages, uncollateralized bank customer loans, collateralized bank customer loans, car loans, loans issued to policyholders and subordinated loans. Mortgage loans consist of loans provided to individuals to purchase residential homes, which is used as collateral for the loan. Uncollateralized bank customer loans consist of loans provided through credit cards to individuals and retail unsecured banking loans provided to individuals. Collateralized bank customer loans consist of retail collateralized loans provided to individuals. Subordinated loans consist of uncollateralized loans provided to the legal entities to support their businesses, that ranks below other, more senior loans or securities with respect to claims on assets or earnings. Margin loans are not classified as part of the Company's loan portfolio and are instead recorded on the Consolidated Balance Sheets under Margin lending, brokerage and other receivables, net. Loans issued to policyholders are represented by loans issued by insurer to its policyholders under an accumulative insurance contract. Policy loans are provided within the redemption amount, which is a security for the return of the received loan and covers the loans amount and interest. Car loans consists of loans provided to individuals to purchase new or used car. Derivative financial instruments In the normal course of business, the Company invests in various derivative financial contracts including futures. Derivatives are initially recognized at fair value at the date a derivative contract is entered into and are subsequently re-measured to their fair value at each reporting date. The fair values are estimated based on quoted market prices or pricing models that take into account the current market and contractual prices of the underlying instruments and other factors. Derivatives are carried as assets when their fair value is positive and as liabilities when it is negative. Functional currency Management has adopted ASC 830, Foreign Currency Translation Matters as it pertains to its foreign currency translation. The Company's functional currencies are the Kazakhstan tenge, the euro, the U.S. dollar, the Ukrainian hryvnia, the Uzbekistani som, the Kyrgyzstani som, the Azerbaijani manat, the British pound sterling, the Armenian dram, the United Arab Emirates dirham and the Turkish lira, and its reporting currency is the U.S. dollar. For financial reporting purposes, foreign currencies are translated into U.S. dollars as the reporting currency. Monetary assets and liabilities denominated in foreign currencies are translated into U.S. dollars using the exchange rate prevailing at the balance sheet date. Non-monetary assets and liabilities denominated in foreign currencies are translated at rates of exchange in effect at the date of the transaction. Average quarterly rates are used to translate revenues and expenses. Translation adjustments arising from the use of different exchange rates from period to period are included as a component of shareholders' equity as "Accumulated other comprehensive loss". The Company uses exchange rates from the National Bank of the Republic of Kazakhstan for foreign currency translation purposes. Cash and cash equivalents Cash and cash equivalents are generally comprised of certain highly liquid investments with original maturities of three months or less at the date of purchase. Cash and cash equivalents include those reverse repurchase agreements, where maturity is less than 90 days, and the credit risk of the counterparty is low, which are recorded at the amounts at which the securities were acquired plus accrued interest. Securities reverse repurchase and repurchase agreements A reverse repurchase agreement is a transaction in which the Company purchases financial instruments from a seller, typically in exchange for cash, and simultaneously enters into an agreement to resell the same or substantially the same financial instruments to the seller for an amount equal to the cash or other consideration exchanged plus interest at a future date. Securities purchased under reverse repurchase agreements are accounted for as collateralized financing transactions and are recorded at the contractual amount for which the securities will be resold, including accrued interest. Financial instruments purchased under reverse repurchase agreements are recorded in the financial statements as cash placed on deposit collateralized by securities and classified as cash and cash equivalents in the Consolidated Balance Sheets. A repurchase agreement is a transaction in which the Company sells financial instruments to another party, typically in exchange for cash, and simultaneously enters into an agreement to reacquire the same or substantially the same financial instruments from the buyer for an amount equal to the cash or other consideration exchanged plus interest at a future date. These agreements are accounted for as collateralized financing transactions. The Company retains the financial instruments sold under repurchase agreements and classifies them as trading securities in the Consolidated Balance Sheets. The consideration received under repurchase agreements is classified as securities repurchase agreement obligations in the Consolidated Balance Sheets. The Company enters into reverse repurchase agreements, repurchase agreements, securities borrowed and securities loaned transactions to, among other things, acquire securities to leverage and grow its proprietary trading portfolio, cover short positions and settle other securities obligations, to accommodate customers' needs and to finance its inventory positions. The Company enters into these transactions in accordance with normal market practice. Under standard terms for repurchase transactions, the recipient of collateral has the right to sell or repledge the collateral, subject to returning equivalent securities on settlement of the transaction. Restricted cash Restricted cash consists of cash equivalents that is held for specific reasons and not available for immediate use. They are generally comprised of certain investments with original maturities of more than three months. Mainly represented by customers' cash and guaranty deposits, which are restricted in use by the Company. Available-for-sale securities Financial assets categorized as available-for-sale ("AFS") are non-derivatives that are either designated as available-for-sale or not classified as (a) loans and receivables, (b) held to maturity investments or (c) trading securities. Gains and losses arising from changes in fair value are recognized in other comprehensive income and accumulated in the Accumulated other comprehensive loss, with the exception of other-than-temporary impairment losses, interest calculated using the effective interest method, and foreign exchange gains and losses are recognized in the Consolidated Statements of Operations and Statements of Other Comprehensive Income. When the investment is disposed of or is determined to be impaired, the cumulative gain or loss previously accumulated in the accumulated other comprehensive (loss)/income is then reclassified to net realized gain/(loss) on investments available-for-sale in the Consolidated Statements of Operations and Statements of Other Comprehensive Income. Trading securities Financial assets are classified as trading securities if the financial asset has been acquired principally for the purpose of selling it in the near term. Trading securities are stated at fair value, with any gains or losses arising on remeasurement recognized in revenue. Changes in fair value are recognized in the Consolidated Statements of Operations and Statements of Other Comprehensive Income and included in net gain on trading securities. Interest earned and dividend income are recognized in the Consolidated Statements of Operations and Statements of Other Comprehensive Income and included in interest income, according to the terms of the contract and when the right to receive the payment has been established. Investments in nonconsolidated managed funds are accounted for at fair value based on the net asset value of the funds provided by the fund managers with gains or losses included in net gain on trading securities in the Consolidated Statements of Operations and Statements of Other Comprehensive Income. Debt securities issued Debt securities issued are initially recognized at the fair value of the consideration received, less directly attributable transaction costs. Subsequently, amounts due are stated at amortized cost and any difference between net proceeds and the redemption value is recognized over the period of the borrowings using the effective interest method. If the Company purchases its own debt it is removed from the Consolidated Balance Sheets and the difference between the carrying amount of the liability and the consideration paid is recognized in the Consolidated Statements of Operations and Statements of Other Comprehensive Income. Margin lending, brokerage and other receivables The Company engages in securities financing transactions with and for clients through margin lending. In margin lending, the Company's customers borrow funds from the Company or sells securities the customer does not own against the value of their qualifying securities held in custody by the Company. Under these agreements, the Company is permitted to sell or repledge securities received as collateral. Furthermore, the contractual arrangements establish that the Company can use the pledged collateral by the customers for repurchase agreement operations, securities lending transactions or delivery to other counterparties to cover short positions. Margin lending, brokerage and other receivables comprise margin lending receivables, brokerage commissions and other receivables related to the securities brokerage and banking activity of the Company. At initial recognition, margin lending, brokerage and other receivables are recognized at fair value. Subsequently, margin lending, brokerage and other receivables are carried at cost net of any allowance for impairment losses. For both individual and institutional brokerage clients, we may enter into arrangements for securities financing transactions in respect of financial instruments held by us on behalf of the client or may use such financial instruments for our own account or the account of another client. We maintain omnibus brokerage accounts for certain institutional brokerage clients, in which transactions of the underlying clients of such institutional clients are combined in a single account with us. As noted above, we may use the assets within the omnibus accounts to finance, lend, provide credit or provide debt financing or otherwise use and direct the order or manner of assets for financing of other clients of ours. As of March 31, 2023, margin lending receivable balance from FST Belize was fully collateralized by its customer-owned cash and market securities held by the Company, including $37.1 million margin lending receivable collateralized by FRHC securities . Customers’ required margin levels and established credit limits are monitored continuously by risk management staff. Pursuant to the Company’s policy, customers are required to deposit additional collateral or reduce positions, when necessary, to avoid liquidation of their positions. Derecognition of financial assets A financial asset (or, where applicable a part of a financial asset or a part of a group of similar financial assets) is derecognized where all of the following conditions are met: • The transferred financial assets have been isolated from the Company - put presumptively beyond the reach of the Company and its creditors, even in bankruptcy or other receivership. • The transferee has rights to pledge or exchange financial assets. • The Company or its agents do not maintain effective control over the transferred financial assets or third-party beneficial interests related to those transferred assets. Where the Company has not met the asset derecognition conditions above, it continues to recognize the asset to the extent of its continuing involvement. Impairment of long-lived assets In accordance with the accounting guidance for the impairment or disposal of long-lived assets, the Company periodically evaluates the carrying value of long-lived assets to be held and used when events and circumstances warrant such a review. The carrying value of a long-lived asset is considered impaired when the fair value from such asset is less than its carrying value. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair value of the long-lived asset. Fair value is determined primarily using the anticipated cash flows discounted at a rate commensurate with the risk involved. Losses on long-lived assets to be disposed of are determined in a similar manner, except that fair values are reduced for the cost of disposal. During the fiscal year ended March 31, 2022, 2022, and 2021 the Company had not recorded Impairment of goodwill Goodwill is allocated to reporting units, which are identified as the operating segments or one level below operating segments that generate separate financial information regularly reviewed by management. The assignment of goodwill to reporting units allows for the assessment of potential impairment at the appropriate level within the organization. The Company has identified its reporting units based on its organizational and operational structure, as well as the level at which internal financial information is reviewed by management to make strategic decisions. In line with this, the reporting units have been established as follows: Central Asia and Eastern Europe Reporting Unit: This reporting unit represents the Company's operations in Central Asia, which encompasses countries such as Kazakhstan, Uzbekistan, Kyrgyzstan and Ukraine. The management team responsible for the Central Asia and Eastern Europe region regularly reviews financial information specific to this reporting unit, including revenue, expenses, and key performance indicators. Europe excluding Eastern Europe Reporting Unit: This reporting unit comprises the Company's operations in various European countries, such as Cyprus, Germany and United Kingdom. The management team responsible for the Europe region reviews financial information related to this reporting unit, including revenue, expenses, and market trends. US Reporting Unit: This reporting unit comprises the Company's operations in USA. The management team responsible for the US region reviews financial information related to this reporting unit, including revenue, expenses, and market trends. Middle East/Caucasus Unit: This reporting unit comprises the Company's operations in Middle East/Causcasus. This reporting unit represents the Company's operations in Middle East/Caucasus, which encompasses countries such as Armenia, Azerbaijan, UAE and Turkiye. The management team responsible for the Middle East/Causcasus region reviews financial information related to this reporting unit, including revenue, expenses, and market trends. Goodwill has been allocated to each reporting unit based on its relative fair value at the time of acquisition or significant triggering events. The fair value allocation of goodwill to reporting units is periodically reassessed to ensure alignment with the Company's evolving organizational structure and operational dynamics. The Company conducts impairment testing on an annual basis or whenever indicators of potential impairment arise. The impairment testing involves comparing the carrying amount of each reporting unit, including its allocated goodwill, to its fair value. If the carrying amount exceeds the fair value, an impairment loss is recognized. Further details regarding the measurement of goodwill impairment and the results of impairment tests for each reporting unit are provided below. The Company discloses information about the reporting units, the carrying amounts of goodwill allocated to each reporting unit, and the impairment losses recognized. The allocation of goodwill to reporting units ensures a focused evaluation of each unit's financial performance and facilitates the identification of potential impairment, enhancing the transparency and reliability of our financial reporting. As of March 31, 2023 and 2022, goodwill recorded in the Company's Consolidated Balance Sheets totaled $14,192 and $5,898 respectively. The Company performs an impairment review at least annually unless indicators of impairment exist in interim periods. The Company compares the fair value of a reporting unit with its carrying amount. The goodwill impairment charge is recognized for the amount by which the reporting unit’s carrying amount exceeds its fair value, limited to the total amount of goodwill allocated to that reporting unit. If fair value exceeds the carrying amount, no impairment is recorded. During the year ended March 31, 2023, the Company did not recognize an impairment loss related to goodwill. During the year ended March 31, 2022, the conflict between Russia and Ukraine escalated, and military operations began on the territory of Ukraine. The conflict resulted in sanctions being imposed on Russia. As a result of this conflict, the Company's subsidiaries operating in Russia and Ukraine, including Freedom Bank RU, Freedom UA, and Zerich, incurred significant losses. In its annual goodwill impairment test for the year ended March 31, 2022, the Company estimated the fair value of the reporting unit based on the income approach (also known as the discounted cash flow method) and determined the fair value of the Company’s goodwill previously recognized for Freedom Bank RU, Freedom UA and Zerich was below the carrying amount of the Company’s goodwill. As a result, as of March 31, 2022, the Company recognized impairment loss for the goodwill previously recognized for Freedom Bank RU, Freedom UA and Zerich in the amount of $2,300 through Other (income)/expense, net as presented on the Consolidated Statements of Operations and Statements of Other Comprehensive Income, and presented goodwill, net of impairment loss in the Company's Consolidated Balance Sheets. The current uncertainty surrounding the conflict between Russia and Ukraine makes it difficult to perform reasonable projections of future income and expenses of the Ukrainian subsidiary. The goodwill value at March 31, 2023 increased compared to March 31, 2022, due to acquisition of London Almaty, Ticketon, LD Micro and Paybox and as a result of foreign exchange currency translation. The changes in the carrying amount of goodwill for the years ended March 31, 2023 and March 31, 2022, were as follows: Central Asia and Eastern Europe Europe, excluding Eastern Europe US Held for Sale Middle East/ Caucasus Total Goodwill, gross Balance as of March 31, 2021 (Recasted) $ 5,261 $ — $ 1,626 $ 810 $ — $ 7,697 Foreign currency translation (157) — — 658 — 501 Acquired — — — — — — Balance as of March 31, 2022 (Recasted) 5,104 $ — $ 1,626 $ 1,468 $ — $ 8,198 Foreign currency translation (74) — — — — (74) Acquired 2,594 — 5,774 — — 8,368 Balance as of March 31, 2023 7,624 $ — $ 7,400 $ 1,468 $ — $ 16,492 Accumulated impairment Balance as of March 31, 2021 $ — $ — $ — $ — $ — $ — Impairment expense 832 — — 1,468 — 2,300 Balance as of March 31, 2022 $ 832 $ — $ — $ 1,468 $ — $ 2,300 Impairment expense — — — — — — Balance as of March 31, 2023 $ 832 $ — $ — $ 1,468 $ — $ 2,300 Goodwill, net of impairment Balance as of March 31, 2021 $ 5,261 $ — $ 1,626 $ 810 $ — $ 7,697 Balance as of March 31, 2022 $ 4,272 $ — $ 1,626 $ — $ — $ 5,898 Balance as of March 31, 2023 $ 6,792 $ — $ 7,400 $ — $ — $ 14,192 Business combinations and acquisitions Acquisitions of businesses not under common control are accounted for using the acquisition method. The consideration transferred in a business combination is measured at fair value, which is calculated as the sum of the acquisition-date fair values of the assets transferred by the Company, liabilities incurred by the Company to the former owners of the acquiree and the equity interests issued by the Company in exchange for control of the acquiree. Acquisition-related costs are generally recognized in profit or loss as incurred . The assets and liabilities acquired are recognized, with certain exceptions such as deferred taxes, at their fair values at the acquisition date. Business combinations under common control are accounted for under the pooling of interests method which involves combining the financial statements of the acquiring and acquired entities as if they had been combined from the beginning of the common control relationship. The assets and liabilities are combined on a carry over basis and not restated to its fair values. This approach required the Company to recast its consolidated financial statements to reflect the assets, liabilities and operations of the acquired entities since the beginning of the earliest comparative period. Asset and Liabilities Held for Sale The Company classifies assets and liabilities ("the disposal group") as held for sale in the period when all of the relevant criteria to be classified as held for sale are met. Criteria include management commitment to divest the disposal group in its present condition and the divestiture being deemed probable of being completed within one year. Assets held for sale are reported at the lower of their carrying value or fair value less cost to divest. Any loss resulting from the measurement is recognized in the period the held for sale criteria are met. The Company assesses the fair value of a disposal group, less any costs to divest, each reporting period it remains classified as held for sale and reports any subsequent changes as an adjustment to the carrying value of the disposal group, as long as the new carrying value does not exceed the initial carrying value of the disposal group. Assets held for sale are not amortized or depreciated. During the year ended March 31, 2023, the Company incurred loss from divestiture of the disposal group in the amount of $26,118, and recognized it within the line item Net income from discontinued operation on the Consolidated Statements of Operations and Statements of Other Comprehensive Income. A disposal group that represents a strategic shift to the Company or is acquired with the intention to divest is reflected as a discontinued operation on the Consolidated Statements of Operation and Statements of Other Comprehensive Income. The Consolidated Financial Statements and related Notes reflect the securities brokerage and complementary banking operations in Russia as discontinued operations as the Company entered into an agreement to divest these operations. The divestiture of these operations was approved by the Central Bank of the Russian Federation on February 10, 2023, and the divestiture was completed on February 28, 2023. See Note 30 " Assets and Liabilities held for sale " in the notes to our consolidated financial statements contained in Part II Item 8 of this annual report, for more information on assets held for sale and discontinued operations. Income taxes The Company recognizes deferred tax liabilities and assets based on the difference between the financial statements and tax basis of assets and liabilities using the enacted tax rates in effect for the year in which the differences are expected to reverse. The measurement of deferred tax assets is reduced, if necessary, by the amount of any tax benefits that, based on available evidence, are not expected to be realized. Current income tax expenses are provided for in accordance with the laws of the relevant taxing authorities. As part of the process of preparing financial statements, the Company is required to estimate its income taxes in each of the jurisdictions in which it operates. The Company accounts for income taxes using the asset and liability approach. Under this method, deferred income taxes are recognized for tax consequences in future years based on differences between the tax bases of assets and liabilities and their reported amounts in the financial statements at each year-end and tax loss carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates applicable for the differences that are expected to affect taxable income. The Company records uncertain tax positions in accordance with ASC 740 on the basis of a two-step process in which (1) the Company determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, the

RECAST

RECAST	12 Months Ended
	Mar. 31, 2023
Accounting Changes and Error Corrections [Abstract]
Recast	RECAST When preparing the consolidated financial statements as of and for the year ended March 31, 2023, management determined that certain amounts included in the Company’s consolidated financial statements as of March 31, 2022 and 2021, required revision due to the closing on May 17, 2022, of the Company's acquisition of two insurance companies in Kazakhstan, a life insurance company, Freedom Life, and a direct insurance carrier, excluding life, health and medical, Freedom Insurance, which were deemed to be entities under common control with the Company since 2018. Prior to the Company's acquisition of these companies, each was wholly owned by the Company's controlling shareholder, chairman and chief executive officer, Timur Turlov, who had previously acquired Freedom Life and Freedom Insurance from a non-related party on February 28, 2018, and August 22, 2018, respectively. The two companies are under common control with the Company since the dates when they were acquired by Timur Turlov. The Company acquired these companies from Mr. Turlov at the historical cost paid by him plus amounts he had contributed as additional paid in capital since his purchase. The Company acquired the two companies to expand its presence in the insurance segment. The purchase price for 100% of the outstanding shares of Freedom Insurance was $13,977 and the purchase price for 100% of the outstanding shares of Freedom Life was $12,611. During the year ended March 31,2023 Freedom KZ has fully repaid the payable for acquisitions of Freedom Life and Freedom Insurance. The financial results of Freedom Life and Freedom Insurance have been consolidated in financial statements as of and for the year ended March 31, 2022, and in the corresponding periods of 2021 for comparative purposes, as if they had been acquired prior to such periods. The previously issued Consolidated Balance Sheet as of March 31, 2022, and Consolidated Statements of Operations and Statements of Other Comprehensive Income for the year ended March 31, 2022 and March 31, 2021, have been revised as follows: As of March 31, 2022 As previously reported FF Life acquisition Elimi-nations FF Insurance acquisition Elimi-nations As recasted ASSETS Cash and cash equivalents $ 224,663 $ 1,429 $ (917) $ 371 $ (82) $ 225,464 Restricted cash 547,950 — — — — 547,950 Trading securities 1,080,982 8,875 — 68,520 — 1,158,377 Available-for-sale securities, at fair value 1 161,363 — — — 161,364 Margin lending, brokerage and other receivables, net 147,480 172 (34) 61 (20) 147,659 Loans issued 92,403 43 — — — 92,446 Fixed assets, net 17,387 182 — 254 — 17,823 Intangible assets, net 3,512 1,490 — 161 — 5,163 Goodwill 5,388 359 — 151 — 5,898 Right-of-use asset 6,747 532 — 152 — 7,431 Insurance contract assets — 3,555 — 2,157 — 5,712 Other assets, net 19,351 9,863 — 427 — 29,641 Assets held for sale 825,419 — — — — 825,419 TOTAL ASSETS $ 2,971,283 $ 187,863 $ (951) $ 72,254 $ (102) $ 3,230,347 LIABILITIES AND SHAREHOLDERS’ EQUITY Securities repurchase agreement obligations $ 742,710 $ 47,690 $ — $ 49,824 $ — $ 840,224 Customer liabilities 766,627 — (917) — (82) 765,628 Margin lending and trade payables 45,082 — — 21 (20) 45,083 Liabilities from insurance activity — 108,925 — 13,162 — 122,087 Current income tax liability 14,556 — — — — 14,556 Securities sold, not yet purchased – at fair value 13,865 — — — — 13,865 Debt securities issued 34,390 — — — — 34,390 Lease liability 6,785 543 — 176 — 7,504 Liability arising from continuing involvement 6,447 — — — — 6,447 Other liabilities 20,668 551 (34) 292 — 21,477 Liabilities held for sale 812,478 — — — — 812,478 TOTAL LIABILITIES $ 2,463,608 $ 157,709 $ (951) $ 63,475 $ (102) $ 2,683,739 Commitments and Contingent Liabilities (Note 31) — — — — — — SHAREHOLDERS’ EQUITY Preferred stock - $0.001 par value; 20,000,000 shares authorized, no shares issued or outstanding — — — — — — Common stock - $0.001 par value; 500,000,000 shares authorized; 59,542,212 shares issued and outstanding as of March 31, 2022 59 9,465 (9,464) 15,576 (15,577) 59 Additional paid in capital 141,340 — 16,498 — 16,907 174,745 Retained earnings 426,563 28,132 (6,665) (4,812) (1,294) 441,924 Accumulated other comprehensive loss (53,291) (7,444) (369) (1,985) (36) (63,125) TOTAL FRHC SHAREHOLDERS’ EQUITY $ 514,671 $ 30,153 $ — $ 8,779 $ — $ 553,603 Non-controlling interest (6,996) 1 — — — (6,995) TOTAL SHAREHOLDERS’ EQUITY $ 507,675 $ 30,154 $ — $ 8,779 $ — $ 546,608 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 2,971,283 $ 187,863 $ (951) $ 72,254 $ (102) $ 3,230,347 Year ended March 31, 2022 As previously reported FF Life acquisition Elimi-nations FF Insurance acquisition Elimi-nations As recasted Revenue: Fee and commission income $ 335,444 $ — $ — $ 83 $ (316) $ 335,211 Net gain/(loss) on trading securities 156,345 (1,283) — 190 — 155,252 Interest income 90,153 23,027 — 8,429 — 121,609 Insurance underwriting income — 60,526 — 12,455 — 72,981 Net gain on foreign exchange operations 1,979 1,615 — 197 — 3,791 Net gain on derivatives 946 — — — — 946 TOTAL REVENUE, NET 584,867 83,885 — 21,354 (316) 689,790 Expense: Fee and commission expense 73,243 12,289 — 693 (316) 85,909 Interest expense 65,449 5,194 — 6,304 — 76,947 Insurance claims incurred, net of reinsurance — 42,606 — 11,841 — 54,447 Payroll and bonuses 39,779 3,624 — 2,885 — 46,288 Professional services 12,123 106 — 453 — 12,682 Stock compensation expense 7,859 — — — — 7,859 Advertising expense 10,059 — — 1,857 — 11,916 General and administrative expense 18,744 3,516 — 1,273 — 23,533 Provision for impairment losses 2,206 — — 296 — 2,502 Other expense/(income), net 1,312 2,708 — (6) — 4,014 TOTAL EXPENSE 230,774 70,043 — 25,596 (316) 326,097 NET INCOME/(LOSS) BEFORE INCOME TAX 354,093 13,842 — (4,242) — 363,693 Income tax (expense)/benefit (38,529) (54) — 13 — (38,570) INCOME/(LOSS) FROM CONTINUING OPERATIONS 315,564 13,788 — (4,229) — 325,123 Loss before income tax (expense)/benefit of discontinued operations (117,199) — — — — (117,199) Income tax benefit of discontinued operations 13,004 — — — — 13,004 Loss from discontinued operations (104,195) — — — — (104,195) NET INCOME/(LOSS) $ 211,369 $ 13,788 $ — $ (4,229) $ — $ 220,928 Less: Net loss attributable to non-controlling interest in subsidiary (6,566) — — — — (6,566) NET INCOME/(LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 217,935 $ 13,788 $ — $ (4,229) $ — $ 227,494 OTHER COMPREHENSIVE INCOME Change in unrealized gain on investments available-for-sale, net of tax effect — (4,292) — — — (4,292) Reclassification adjustment for net realized gain on available-for-sale investments disposed of in the period, net of tax effect — 2,222 — — — 2,222 Foreign currency translation adjustments (17,245) (2,014) — (1,363) — (20,622) OTHER COMPREHENSIVE (LOSS)/INCOME (17,245) (4,084) — (1,363) — (22,692) COMPREHENSIVE INCOME/(LOSS) BEFORE NON-CONTROLLING INTERESTS $ 194,124 $ 9,704 $ — $ (5,592) $ — $ 198,236 Less: Comprehensive loss attributable to non-controlling interest in subsidiary (6,566) — — — — (6,566) COMPREHENSIVE INCOME/(LOSS) ATTRIBUTABLE TO CONTROLLING INTEREST $ 200,690 $ 9,704 $ — $ (5,592) $ — $ 204,802 For the year ended March 31, 2022, the Company’s EPS as reported was 5.43 for both basic and diluted EPS for continuing operations, (1.75) for both basic and diluted EPS for discontinued operations, and 3.67 for both basic and diluted total EPS. Due to the items noted above, the Company’s EPS has been recast to 5.59 for both basic and diluted EPS for continuing operations, to (1.75) for both basic and diluted EPS for discontinued operations, and to 3.84 for both basic and diluted total EPS. Year ended March 31, 2021 As previously reported FF Life acquisition Elimi-nations FF Insurance acquisition Elimi-nations As recasted Revenue: Fee and commission income $ 215,996 $ — $ — $ 188 $ (176) $ 216,008 Net gain on trading securities 25,911 966 — 1,930 — 28,807 Interest income 22,815 11,818 — 3,841 — 38,474 Insurance underwriting income — 54,412 — 8,539 — 62,951 Net gain/(loss) on foreign exchange operations 1,143 (443) — (143) — 557 Net gain on derivatives 86 — — — — 86 TOTAL REVENUE, NET 265,951 66,753 — 14,355 (176) 346,883 Expense: Fee and commission expense 65,978 4,383 — 352 (176) 70,537 Interest expense 18,606 1,605 — 2,233 — 22,444 Insurance claims incurred, net of reinsurance — 46,754 — 5,651 — 52,405 Payroll and bonuses 17,941 3,172 — 2,322 23,435 Professional services 3,980 148 — 302 4,430 Stock compensation expense 114 — — — 114 Advertising expense 5,027 119 — 1,944 6,971 General and administrative expense 8,391 1,304 — 1,314 (10) 11,118 Provision for impairment losses 1,517 73 — — — 1,590 Other (income)/expense, net (106) 2,359 — (229) 10 2,034 TOTAL EXPENSE 121,448 59,917 — 13,889 (176) 195,078 NET INCOME BEFORE INCOME TAX 144,503 6,836 — 466 — 151,805 Income tax (expense)/benefit (23,362) 8 — 47 — (23,307) INCOME FROM CONTINUING OPERATIONS 121,141 6,844 — 513 — 128,498 Income before income tax expense of discontinued operation 28,518 — — — — 28,518 Income tax expense of discontinued operations (6,735) — — — — (6,735) Income from discontinued operations 21,783 — — — — 21,783 NET INCOME $ 142,924 $ 6,844 $ — $ 513 $ — $ 150,281 Less: Net income attributable to non-controlling interest in subsidiary 631 — — — — 631 NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 142,293 $ 6,844 $ — $ 513 $ — $ 149,650 OTHER COMPREHENSIVE INCOME Change in unrealized gain on investments available-for-sale, net of tax effect — (304) — — — (304) Reclassification adjustment for net realized gain on available-for-sale investments disposed of in the period, net of tax effect 71 2,021 — — — 2,092 Foreign currency translation adjustments, net of tax effect 1,857 10,866 — (9,936) — 2,787 OTHER COMPREHENSIVE INCOME/(LOSS) 1,928 12,583 — (9,936) — 4,575 COMPREHENSIVE INCOME/(LOSS) BEFORE NON-CONTROLLING INTERESTS $ 144,852 $ 19,427 $ — $ (9,423) $ — $ 154,856 Less: Comprehensive income attributable to non-controlling interest in subsidiary 631 — — — — 631 COMPREHENSIVE INCOME/(LOSS) ATTRIBUTABLE TO CONTROLLING INTEREST $ 144,221 $ 19,427 $ — $ (9,423) $ — $ 154,225 For the year ended March 31, 2021, the Company’s EPS as reported was 2.06 for both basic and diluted EPS for continuing operations, 0.37 for both basic and diluted EPS for discontinued operations, 2.44 for basic total EPS, and 2.43 for diluted total EPS. Due to the items noted above, the Company’s EPS has been recast to 2.19 for both basic and diluted EPS for continuing operations, to 0.37 for both basic and diluted EPS for discontinued operations, and to 2.56 for both basic and diluted total EPS, respectively.

CASH AND CASH EQUIVALENTS

CASH AND CASH EQUIVALENTS	12 Months Ended
	Mar. 31, 2023
Cash and Cash Equivalents [Abstract]
CASH AND CASH EQUIVALENTS	CASH AND CASH EQUIVALENTS March 31, 2023 March 31, 2022 (Recasted) Short term deposits in National Bank (Kazakhstan) $ 357,454 $ 42,517 Short term deposits in commercial banks 83,755 70,156 Short term deposits on brokerage accounts 37,417 71,060 Petty cash in bank vault and on hand 35,998 18,607 Short term deposits in stock exchanges 31,691 2,828 Securities purchased under reverse repurchase agreements 29,812 19,947 Cash in transit 3,364 35 Overnight deposits 1,926 — Short term deposits in the Central Depository (Kazakhstan) — 314 $ 581,417 $ 225,464 As of March 31, 2023 and 2022, cash and cash equivalents were not insured. As of March 31, 2023 and 2022, the cash and cash equivalents balance included short-term collateralized securities received under reverse repurchase agreements on the terms presented below: March 31, 2023 Interest rates and remaining contractual maturity of the agreements Average Up to 30 30-90 Total Securities purchased under reverse repurchase agreements US sovereign debt 2.06 % $ 17,102 $ — $ 17,102 Corporate equity 17.17 % 6,963 — 6,963 Non-US sovereign debt 6.12 % 3,483 — 3,483 Corporate debt 2.52 % 2,079 185 2,264 Total $ 29,627 $ 185 $ 29,812 March 31, 2022 (Recasted) Interest rates and remaining contractual maturity of the agreements Average Up to 30 30-90 Total Securities purchased under reverse repurchase agreements US sovereign debt 16.38 % $ 9,952 $ 9,952 Non-US sovereign debt 12.51 % 9,786 — 9,786 Corporate equity 16.90 % 152 — 152 Corporate debt 11.88 % 57 — 57 Total $ 19,947 $ — $ 19,947 The securities received by the Company as collateral under reverse repurchase agreements are liquid trading securities with market quotes and significant trading volume. The fair value of collateral received by the Company under reverse repurchase agreements as of March 31, 2023 and 2022, was $31,165 and $19,911 respectively.

RESTRICTED CASH

RESTRICTED CASH	12 Months Ended
	Mar. 31, 2023
Restricted Cash [Abstract]
RESTRICTED CASH	RESTRICTED CASH Restricted cash for the periods ended March 31, 2023 and 2022, consisted of: March 31, 2023 March 31, 2022 (Recasted) Brokerage customers' cash $ 328,435 $ 531,032 Guaranty deposits 116,628 5,540 Restricted bank accounts 10,436 2,844 Deferred distribution payment 23 8,534 Allowance for restricted cash (9,994) — Total restricted cash $ 445,528 $ 547,950 As of March 31, 2023, and March 31, 2022, the Company’s restricted cash included the cash portion of the funds segregated in a special custody account for the exclusive benefit of its brokerage customers. As of March 31, 2023 and March 31, 2022 guarantee deposits in the amount of $115,828 and $3,260 respectively included the minimum requirements on stock exchanges for conducting transactions (MOEX, KASE). Guaranty deposits are required to be placed by every stock exchange participant. In addition to the guaranty deposits, the Freedom Bank KZ also maintains the required margin security on a regular basis depending on the size of the positions held in the treasury, as well as current volatility. As of March 31, 2022, restricted cash included a deferred distribution payment amount of $8,534, representing cash held for distribution to shareholders who have not yet claimed their distributions from the 2011 sale of the Company’s legacy oil and gas exploration and production operations which is the subject of the Estate of Toleush Tolmakov litigation. As a result of disputes between a shareholder’s putative heirs, no party has yet established legal and beneficial ownership of the distribution payment. The Company did not claim an ownership interest in the distribution payment. During the year ended March 31, 2023, $8,378 of this amount was deposited with the court registry in accordance with a court order and was written off by the Company. Interest on such amount in the amount of $23 continues to be recorded as restricted cash.

TRADING AND AVAILABLE-FOR-SALE

TRADING AND AVAILABLE-FOR-SALE SECURITIES AT FAIR VALUE	12 Months Ended
	Mar. 31, 2023
Debt Securities, Trading, and Equity Securities, FV-NI [Abstract]
TRADING AND AVAILABLE-FOR-SALE SECURITIES AT FAIR VALUE	TRADING AND AVAILABLE-FOR-SALE SECURITIES AT FAIR VALUE As of March 31, 2023 and 2022, trading and available-for-sale securities consisted of: March 31, 2023 March 31, 2022 (Recasted) Corporate debt $ 1,269,879 $ 712,134 Non-US sovereign debt 1,029,857 360,570 Corporate equity 65,741 72,354 US sovereign debt 45,022 10,435 Exchange traded notes 2,057 2,884 Total trading securities $ 2,412,556 $ 1,158,377 Corporate equity — 1 Corporate debt 191,082 145,836 Non-US sovereign debt 40,162 12,997 US sovereign debt 7,809 2,530 Total available-for-sale securities, at fair value $ 239,053 $ 161,364 The following tables present maturity analysis for available-for-sale securities as of March 31, 2023 and 2022: March 31, 2023 Remaining contractual maturity of the agreements Up to 1 year 1-5 years 5-10 years More than 10 years Total Corporate debt 77,006 82,579 31,486 11 191,082 Non-US sovereign debt — 33,143 820 6,199 40,162 US sovereign debt 1,947 2,805 1,725 1,332 7,809 Total available-for-sale securities, at fair value $ 78,953 $ 118,527 $ 34,031 $ 7,542 $ 239,053 March 31, 2022 Remaining contractual maturity of the agreements Up to 1 year 1-5 years 5-10 years More than 10 years Total Corporate debt 69,364 50,155 26,284 33 145,836 Non-US sovereign debt 1,692 864 1,086 9,355 12,997 US sovereign debt — — — 2,530 2,530 Corporate equity — — — 1 1 Total available-for-sale securities, at fair value $ 71,056 $ 51,019 $ 27,370 $ 11,919 $ 161,364 As of March 31, 2023, the Company held debt securities of two issuers which individually exceeded 10% of the Company's total trading securities - Kazakhstan Sustainability Fund JSC (Fitch: BBB credit rating) in the amount of $834,917 and the Ministry of Finance of the Republic of Kazakhstan ( S&P Global: BBB- credit rating) in the amount of $1,015,161. As of March 31, 2022, the Company held debt securities of two issuers which individually exceeded 10% of the Company's total trading securities - the Ministry of Finance of the Republic of Kazakhstan and the Kazakhstan Sustainability Fund JSC in the amounts of $357,343 and $488,560, respectively. The Company recognized no other than temporary impairment in accumulated other comprehensive loss. The fair value of securities is determined using observable market data based on recent trading activity. Where observable market data is unavailable due to a lack of trading activity, the Company utilizes internally developed models to estimate fair value and independent third parties to validate assumptions, when appropriate. Estimating fair value requires significant management judgment, including benchmarking to similar instruments with observable market data and applying appropriate discounts that reflect differences between the securities that the Company is valuing and the selected benchmark. Depending on the type of securities owned by the Company, other valuation methodologies may be required. Measurement of fair value is classified within a hierarchy based upon the transparency of inputs used in the valuation of an asset or liability. Classification within the hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The valuation hierarchy contains three levels: • Level 1 - Valuation inputs are unadjusted quoted market prices for identical assets or liabilities in active markets. • Level 2 - Valuation inputs are quoted market prices for identical assets or liabilities in markets that are not active, quoted market prices for similar assets and liabilities in active markets, and other observable inputs directly or indirectly related to the asset or liability being measured. • Level 3 - Valuation inputs are unobservable and significant to the fair value measurement. The following tables present trading securities assets in the Consolidated Financial Statements or disclosed in the Notes to the Consolidated Financial Statements at fair value on a recurring basis as of March 31, 2023 and 2022: Weighted average interest rate Total Fair Value Measurements at March 31, 2023 using Quoted Prices in Active Significant Other Significant unobservable Corporate debt 15.62 % $ 1,269,879 $ 1,106,584 $ 162,895 $ 400 Non-U.S. sovereign debt 12.04 % 1,029,857 971,762 54,319 3,776 Corporate equity — 65,741 62,971 1,808 962 U.S. sovereign debt 4.22 % 45,022 45,022 — — Exchange traded notes — 2,057 447 1,610 — Total trading securities $ 2,412,556 $ 2,186,786 $ 220,632 $ 5,138 Corporate debt 15.78 % 191,082 129,504 61,578 — Non-U.S. sovereign debt 13.64 % 40,162 39,624 538 — U.S. sovereign debt 4.24 % 7,809 7,809 — — Total available-for-sale securities, at fair value $ 239,053 $ 176,937 $ 62,116 $ — Weighted average interest rate Total Fair Value Measurements at March 31, 2022 (Recasted) using Quoted Prices in Active Significant Other Significant unobservable Corporate debt 9.09 % $ 712,134 $ 711,539 $ — $ 595 Non-U.S. sovereign debt 13.15 % 360,570 352,274 — 8,296 Corporate equity — 72,354 71,827 276 251 U.S. sovereign debt 2.35 % 10,435 10,435 — — Exchange traded notes — 2,884 2,884 — — Total trading securities $ 1,158,377 $ 1,148,959 $ 276 $ 9,142 Corporate equity — $ 1 — — 1 Corporate debt 11.09 % 145,836 145,836 — — Non-U.S. sovereign debt 5.51 % 12,997 12,997 — — U.S. sovereign debt 2.17 % 2,530 2,530 — — Total available-for-sale securities, at fair value $ 161,364 $ 161,363 $ — $ 1 The table below presents the Valuation Techniques and Significant Level 3 Inputs used in the valuation as of March 31, 2023 and 2022. The table is not intended to be all inclusive, but instead captures the significant unobservable inputs relevant to determination of fair value. Type Valuation Technique FV as of March 31, 2023 Significant Unobservable Inputs % Corporate equity DCF $ 961 Discount rate 58.8% Estimated number of years 9 years Corporate debt DCF $ 399 Discount rate 74.0% Estimated number of years 3 months Non-US sovereign debt DCF $ 3,778 Discount rate 48.8% Estimated number of years 11 years $ 5,138 Type Valuation Technique FV as of March 31, 2022 Significant Unobservable Inputs % Corporate equity DCF $ 251 Discount rate 20.0% Estimated number of years 9 years Corporate debt DCF $ 595 Discount rate 45.0% Estimated number of years 3 months Non-US sovereign debt DCF $ 7,524 Discount rate 69.0% Estimated number of years 11 years Non-US sovereign debt DCF $ 772 Discount rate 13.9% Estimated number of years 1 year $ 9,142 The following table provides a reconciliation of the beginning and ending balances for investments that use Level 3 inputs for the year ended March 31, 2023: Trading Balance as of March 31, 2021 (Recasted) $ 19,033 Reclassification to level 3 682 Reclassification to level 1 (18,371) Purchase of investments that use Level 3 inputs 10,812 Revaluation of investments that use Level 3 inputs (3,014) Balance as of March 31, 2022 (Recasted) $ 9,142 Reclassification to level 2 (1,339) Sale of investments that use Level 3 inputs (5,213) Purchase of investments that use Level 3 inputs 2,604 Revaluation of investments that use Level 3 inputs (56) Balance as of March 31, 2023 $ 5,138 The table below presents the amortized cost, unrealized gains and losses accumulated in other comprehensive income, and fair value of available-for-sale securities as of March 31, 2023 and 2022: March 31, 2023 Assets measured at amortized cost Recognized impairment loss in Income Statement Unrealized gain/(loss) accumulated in other comprehensive Assets Maturity Date Corporate debt $ 192,167 $ (402) $ (683) $ 191,082 2023 - 2035 Non-US sovereign debt 42,456 — (2,294) 40,162 2024 - indefinite U.S. sovereign debt 8,391 — (582) 7,809 2023 - 2044 Total available-for-sale securities, at fair value $ 243,014 $ (402) $ (3,559) $ 239,053 March 31, 2022 (Recasted) Assets measured at amortized cost Unrealized gain/(loss) accumulated in other comprehensive Assets Maturity Date Corporate debt $ 146,111 $ (275) $ 145,836 2022 - 2035 Non-US sovereign debt 13,784 (787) 12,997 2022 - indefinite U.S. sovereign debt 2,912 (382) 2,530 2044 Corporate equity 1 — 1 not applicable Total available-for-sale securities, at fair value $ 162,808 $ (1,444) $ 161,364

MARGIN LENDING, BROKERAGE AND O

MARGIN LENDING, BROKERAGE AND OTHER RECEIVABLES, NET	12 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
MARGIN LENDING, BROKERAGE AND OTHER RECEIVABLES, NET	MARGIN LENDING, BROKERAGE AND OTHER RECEIVABLES, NET Margin lending, brokerage and other receivables, net of the Company are comprised of the following: March 31, 2023 March 31, 2022 (Recasted) Margin lending receivables $ 361,684 $ 138,983 Receivables from brokerage clients 7,302 4,386 Bank commissions receivable 6,035 598 Receivable for underwriting and market-making services 2,317 296 Long-term installments receivables 895 1,367 Dividends accrued 486 45 Receivable from sale of securities 613 884 Other receivables 9,504 3,207 Allowance for receivables (12,507) (2,107) Total margin lending, brokerage and other receivables, net $ 376,329 $ 147,659 Margin lending receivables are amounts owed to the Company from customers as a result of borrowings by such customers against the value of qualifying securities, primarily for the purpose of purchasing additional securities. Amounts may fluctuate from period to period as overall client balances change as a result of market levels, client positioning and leverage. Credit exposures arising from margin lending activities are generally mitigated by their short-term nature, the value of collateral held and our right to call for margin when collateral values decline. The fair value of collateral received by the Company under margin loans as of March 31, 2023, and March 31, 2022 was $1,418,129 and $4,432,621, respectively . As of March 31, 2023 and March 31, 2022, amounts due from a single related party customer were $290,195 and $102,669, respectively or 78% and 73% respectively, of total margin lending, brokerage and other receivables, net. Approximately 98% and 95% of these balances were due from Freedom Securities Trading Inc. (formerly known as FFIN Brokerage Services, Inc.) (“FST Belize”), a company owned by the Company's controlling shareholder, chairman and chief executive officer, Timur Turlov. Based on historical data, the Company considers receivables due from related parties fully collectible. For both individual and institutional brokerage clients, we may enter into arrangements for securities financing transactions in respect of financial instruments held by us on behalf of the client or may use such financial instruments for our own account or the account of another client. We maintain omnibus brokerage accounts for certain institutional brokerage clients, in which transactions of the underlying clients of such institutional clients are combined in a single account with us. As noted above, we may use the assets within the omnibus accounts to finance, lend, provide credit or provide debt financing or otherwise use and direct the order or manner of assets for financing of other clients of ours. As of March 31, 2023, margin lending receivable balance from FST Belize was fully collateralized by its customer-owned cash and market securities held by the Company, including $37.1 million margin lending receivable collateralized by FRHC securities . Customers’ required margin levels and established credit limits are monitored continuously by risk management staff. Pursuant to the Company’s policy, customers are required to deposit additional collateral or reduce positions, when necessary, to avoid liquidation of their positions. As of March 31, 2023 and March 31, 2022 using historical and statistical data, the Comp any recorded an allowance for brokerage receivables in the amounts of $12,507, $2,107 respectively.

LOANS ISSUED

LOANS ISSUED	12 Months Ended
	Mar. 31, 2023
Loans and Leases Receivable Disclosure [Abstract]
LOANS ISSUED	LOANS ISSUED Loans issued as of March 31, 2023, consisted of the following: Amount Outstanding Due Dates Average Interest Rate Fair Value of Loan Currency Mortgage loans* $ 534,154 April, 2023 - March, 2048 9.00 % $ 534,154 KZT Right of claims for purchased retail loans 121,177 January, 2023 - March, 2027 15.00 % 121,177 KZT Uncollateralized bank customer loans $ 46,970 January, 2023 - March, 2043 25.00 % KZT Collateralized Bank customer loans 17,653 May, 2023 - March, 2028 2.00 % 17,636 KZT/RUB Car loans $ 102,269 April, 2023 - April, 2030 25.00 % $ 102,247 KZT Subordinated loan 5,039 December, 2025 3.00 % — USD Loans issued to policyholders $ 1,488 June, 2023 - February, 2024 15.00 % $ 1,752 KZT Other 300 March, 2024 - September, 2029 2.00 % — EUR Allowance for loans issued (2,792) Total loans issued $ 826,258 *Fair value of collateral for the mortgage loans is the minimum amount of market value of the pledged immovable property and outstanding loan amount. Freedom Bank KZ provides mortgage loans to borrowers on behalf of the JSC Kazakhstan Sustainability Fund ("Program Operator") related to the state mortgage program "7-20-25" and transfers the rights of claim on the loans to the Program Operator. Under this program, borrowers can receive a mortgage at an interest rate of 7%, for 20 years. In accordance with the program and trust management agreement, Freedom Bank KZ carries out trust management of transferred mortgage loans, and transfers all repayments of principal amounts of mortgages plus 4% of the 7% interest to the Program Operator and is recognized as interest expense. The remaining 3% of the 7% interest is retained by Freedom Bank KZ as interest income. Under the program and trust management agreement, Freedom Bank KZ is required to repurchase the rights of claims on transferred mortgage loans, when the loan principal amount and interest payments are overdue 90 days or more. The repurchase of overdue loans is performed at the loan nominal value. Since the Freedom Bank KZ transfers the right of claim of those loans with recourse for uncollectible amounts due at maturity, retains part of interest from those loans, and agrees to service those loans after the sale, Freedom Bank KZ has determined that it retains control over the mortgage loans transferred and continues recognizing the loans. As Freedom Bank KZ continues to recognize the loans, it also recognizes the associated liability in the amount of $440,805 as of March 31, 2023, which is presented separately as liability arising from continuing involvement in the Consolidated Balance Sheets. As of March 31, 2022 the corresponding liability amounted to $6,447. As of March 31, 2023 and March 31, 2022, mortgage loans include the state mortgage program "7-20-25" with a principal amount of $463,114 and $21,310, respectively . Freedom Bank KZ has an agreement with FFIN Credit, a start-up created and controlled by the Company's controlling shareholder, chairman and chief executive officer, Timur Turlov, to purchase uncollateralized retail loans. FFIN Credit 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 that the ownership of FFIN Credit will be sold by Mr. Turlov to the Company. The Bank has legal ownership over purchase from FFIN Credit uncollateralized bank customer loans. However, in accordance with U.S. GAAP requirements, the Company does not recognize those loans as uncollateralized bank customer loans, since effective control over the transferred loans is maintained by FFIN Credit. Instead, the Company recognizes the loans as right of claims for purchased retail loans from FFIN Credit presented on the consolidated balance sheets within loans issued. As of March 31, 2023 and March 31, 2022, right of claims for purchased retail loans in the amount of $121,177 and $35,293, respectively. Loans issued as of March 31, 2022, consisted of the following: Amount Outstanding Due Dates Average Interest Rate Fair Value of Loan Currency Mortgage loans 52,227 April 2022 - March 2047 11.86 % 52,134 KZT Right of claims for purchased retail loans 35,293 April 2022 - March 2026 15.00 % 35,293 KZT Uncollateralized bank customer loans 100 April 2022 - March 2047 10.00 % — KZT Subordinated loan 5,033 December 2022-April 2024 4.89 % — USD Subordinated loan 1,256 December 2022-April 2024 7.00 % — UAH Other 123 February 2022-Febraury 2027 2.50 % — USD Loans to policyholders 43 July 2022 - March 2023 12.02 % 284 KZT Allowance for loans issued $ (1,629) Total loans issued (recasted) $ 92,446

INCOME TAXES

INCOME TAXES	12 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company is subject to taxation in the Unites States of America, Russia, Kazakhstan, Azerbaijan, Kyrgyzstan, Germany, Cyprus, Ukraine, United Kingdom, Armenia and Uzbekistan. The tax rates used for deferred tax assets and liabilities for the years ended March 31, 2023 and March 31, 2022, were 21% for the U.S., 20% for Russia, Kazakhstan, 20% for Azerbaijan, 10% for Kyrgyzstan, 31% for Germany, 12.5% for Cyprus, 18% for Ukraine, 25% for United Kingdom, 18% for Armenia and 15% for Uzbekistan. This note is presented excluding the discontinued operations, which is presented separately in Note 30 "Assets and Liabilities Held for Sale". As of March 31, 2023 and March 31, 2022, deferred tax assets and liabilities of the Company were comprised of the following: March 31, 2023 March 31, 2022 (recast) Deferred tax assets: Revaluation on trading securities Tax losses carryforward $ 1,548 $ 679 Accrued liabilities 933 828 Provision for impairment losses 2,079 — Stock compensation expenses — — Deferred tax assets $ 4,560 $ 1,507 Deferred tax liabilities: Revaluation on trading securities $ 29 $ 210 Fixed and Intangible Assets 2,457 — Other liabilities 326 388 Deferred tax liabilities $ 2,812 $ 598 Net deferred tax assets $ 2,442 $ 909 Net deferred tax liabilities $ 694 $ — The Company is subject to the U.S. federal income taxes at a rate of 21%. The reconciliation of of the amount computed by multiplying income before provision for income taxes at the 21% income tax rate compared to the Company's income tax expense as reported is as follows: Year ended March 31, 2023 Year ended March 31, 2022 Year ended March 31, 2021 (recast) (recast) Income before income tax at 21% $ 49,547 $ 76,376 $ 31,879 Global intangible low taxed income 39,139 31,194 18,451 Permanent differences 14,096 (2,567) (2,160) Subpart F Income 4,732 — — Stock based compensation 2,039 3,090 348 Provision for impairment losses — (13) 113 Valuation allowance — (316) (361) Foreign tax rate differential (13,089) (18,544) (9,491) Foreign tax credit (18,423) (16,200) (10,155) Nontaxable gains (35,265) (34,450) (5,317) Income tax expense $ 42,776 $ 38,570 $ 23,307 As of March 31, 2023, 2022 and 2021, income tax expense was comprised of the following: Year ended March 31, 2023 Year ended March 31, 2022 Year ended March 31, 2021 (recast) (recast) Current income tax charge Federal 22,387 15,184 7,771 Foreign 21,406 27,381 14,040 43,793 42,565 21,811 Deferred income tax charge Federal (2,606) (2,191) 1,752 Foreign 1,589 (1,804) (256) (1,017) (3,995) 1,496 Income tax expense $ 42,776 $ 38,570 $ 23,307

FIXED ASSETS, NET

FIXED ASSETS, NET	12 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
FIXED ASSETS, NET	FIXED ASSETS, NET As of March 31, 2023 and 2022, fixed assets, net of the Company included the following: March 31, 2023 March 31, 2022 (Recasted) Buildings $ 19,569 $ 7,770 Office equipment 11,004 4,633 Processing and storage data centers 10,793 3,729 Land 9,106 1,564 Furniture 6,633 2,759 Capital expenditures on leasehold improvements 3,288 1,239 Vehicles 1,516 643 Other 1,428 722 Less: Accumulated depreciation (9,320) (5,236) Total fixed assets, net $ 54,017 $ 17,823 Depreciation expense totaled $4,083, $2,270 and $2,118 for the years ended March 31, 2023, 2022 and 2021 respectively.

INTANGIBLE ASSETS, NET

INTANGIBLE ASSETS, NET	12 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS, NET	INTANGIBLE ASSETS, NET As of March 31, 2023 and 2022, intangible assets, net of the Company included the following: March 31, 2023 March 31, 2022 (Recasted) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortized intangible assets Client base $ 5,264 $ (1,707) $ 1,843 $ (1,504) Software 6,140 (992) 1,898 (572) Value added business 5,058 (2,355) 3,643 (2,257) Licenses 4,977 (489) 2,574 (509) Other intangible assets 2,074 (355) 49 (2) Total $ 23,513 $ (5,898) $ 10,007 $ (4,844) Total intangible assets, net $ 17,615 $ 5,163 Aggregate Amortization Expense For year ended 31.03.2023 $ 1,054 Estimated Amortization Expense For year ended 31.03.2024 $ 2,115 For year ended 31.03.2025 $ 1,809 For year ended 31.03.2026 $ 1,555 For year ended 31.03.2027 $ 1,194 For year ended 31.03.2028 $ 1,118 Amortization expense totaled $1,054, $1,146 and $570 for the years ended March 31, 2023, 2022 and 2021 respectively.

OTHER ASSETS, NET

OTHER ASSETS, NET	12 Months Ended
	Mar. 31, 2023
Other Assets [Abstract]
OTHER ASSETS, NET	OTHER ASSETS, NET As of March 31, 2023 and 2022, other assets, net of the Company included the following: March 31, 2023 March 31, 2022 (Recasted) Prepayments on future acquisitions $ 23,428 $ 4,069 Deferred acquisition costs 17,495 9,617 Advances paid 12,553 4,340 Taxes other than income taxes 5,908 1,697 Investments in joint ventures and associated companies 4,000 — Deferred tax assets 2,442 909 Current income tax asset 1,529 2,497 Rent guarantee deposit 363 759 Due from financial institutions — 4,763 Other 5,745 990 Total other assets 73,463 29,641 Allowance for other assets — — Other assets, net $ 73,463 $ 29,641

SECURITIES REPURCHASE AGREEMENT

SECURITIES REPURCHASE AGREEMENT OBLIGATIONS	12 Months Ended
	Mar. 31, 2023
Securities Sold under Agreements to Repurchase [Abstract]
SECURITIES REPURCHASE AGREEMENT OBLIGATIONS	SECURITIES REPURCHASE AGREEMENT OBLIGATIONS As of March 31, 2023 and 2022, trading securities included collateralized securities subject to repurchase agreements as described in the following table: March 31, 2023 Interest rates and remaining contractual maturity of the agreements Average Up to 30-90 Over 90 Total Securities sold under repurchase agreements Non-US sovereign debt 15.98 % $ 826,196 $ 55,265 $ — $ 881,461 Corporate debt 16.07 % 597,559 5,375 — 602,934 US sovereign debt 1.52 % 17,637 — — 17,637 Corporate equity 12.24 % 15,384 — — 15,384 Total securities sold under repurchase agreements $ 1,456,776 $ 60,640 $ — $ 1,517,416 March 31, 2022 (Recasted) Interest rates and remaining contractual maturity of the agreements Average Up to 30 30-90 Over 90 Total Securities sold under repurchase agreements Corporate debt 11.96 % $ 609,405 $ 142 $ — $ 609,547 Non-US sovereign debt 10.85 % 222,893 — — 222,893 US sovereign debt 0.77 % 7,396 — — 7,396 Corporate equity 14.00 % 388 — — 388 Total securities sold under repurchase agreements $ 840,082 $ 142 $ — $ 840,224 The fair value of collateral pledged under repurchase agreements as of March 31, 2023 and 2022, was $1,519,926 and $834,751, respectively. Securities pledged as collateral by the Company under repurchase agreements are liquid trading securities with market quotes and significant trading volume.

CUSTOMER LIABILITIES

CUSTOMER LIABILITIES	12 Months Ended
	Mar. 31, 2023
Contract with Customer, Liability [Abstract]
CUSTOMER LIABILITIES	CUSTOMER LIABILITIES The Company recognizes customer liabilities associated with funds held by our brokerage and bank customers. Customer liabilities consist of: March 31, 2023 March 31, 2022 (Recasted) Amount Interest rate Amount Interest rate Interest-bearing deposits: Term deposits $ 832,751 0.1% -16.9% 164,837 0.01%-14.3% Total Interest-bearing deposits $ 832,751 $ 164,837 Non-interest-bearing deposits: Current customer accounts $ 458,954 $ 81,447 Brokerage customers $ 633,542 $ 519,344 Total non-interest-bearing deposits $ 1,092,496 $ 600,791 Total customer liabilities 1,925,247 765,628 In accordance with Kazakhstan local law requirements, commercial banks conclude agreements with JSC Kazakhstan Deposit Insurance Fund ("KDIF"), under which banks have to pay commissions to KDIF on a recurring basis, the amount of which depends on the term and demand deposits received by banks from the customers. Under the regulatory agreement, KDIF insures the term and demand deposits up to $44 to each customer. As at March 31, 2023 and March 31, 2022, respectively, Freedom Bank KZ had a total amounts in excess of insured bank time deposits in amounts of $539,411 and $51,818 for all customers.

MARGIN LENDING AND TRADE PAYABL

MARGIN LENDING AND TRADE PAYABLES	12 Months Ended
	Mar. 31, 2023
Accounts Payable [Abstract]
MARGIN LENDING AND TRADE PAYABLES	MARGIN LENDING AND TRADE PAYABLES As of March 31, 2023 and 2022, margin lending and trade payables of the Company included the following: March 31, 2023 March 31, 2022 (Recasted) Margin lending payable $ 117,144 $ 39,250 Payables to suppliers of goods and services 2,965 4,463 Trade payable for securities purchased 482 462 Other 2,309 908 Total margin lending and trades payables $ 122,900 $ 45,083 As of March 31, 2023 and 2022, margin lending payable due to a single related party $3,239 or 3% and $38,889 or 86% of margin lending payable, respectively. The fair value of collateral by the Company under margin loans as of March 31, 2023, and 2022 was $164,861 and $403,543 , respectively.

SECURITIES SOLD, NOT YET PURCHA

SECURITIES SOLD, NOT YET PURCHASED AT FAIR VALUE	12 Months Ended
	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
SECURITIES SOLD, NOT YET PURCHASED - AT FAIR VALUE	SECURITIES SOLD, NOT YET PURCHASED - AT FAIR VALUE The following table provides a reconciliation of the beginning and ending balances for securities sold, not yet purchased - at fair value by the Company, as of March 31, 2023 and 2022: Total Balance as of March 31, 2021 (Recasted) $ 8,569 Short sales 7,055 Repurchase (346) Net gain on trading securities (1,413) Balance as of March 31, 2022 (Recasted) $ 13,865 Balance as of March 31, 2022 (Recasted) $ 13,865 Short sales 394 Repurchase (15,650) Net loss on trading securities 1,391 Balance as of March 31, 2023 $ — A short sale involves the sale of a security that is not owned with the expectation of purchasing the same security (or a security exchangeable) at a later date at a lower price. A short sale involves the risk of a theoretically unlimited increase in the market price of the security that would result in a theoretically unlimited loss.

DEBT SECURITIES ISSUED

DEBT SECURITIES ISSUED	12 Months Ended
	Mar. 31, 2023
Debt Securities [Abstract]
DEBT SECURITIES ISSUED	DEBT SECURITIES ISSUED As of March 31, 2023 and 2022, outstanding debt securities of the Company included the following: Debt securities issued by March 31, 2023 March 31, 2022 (Recasted) Freedom SPC $ 58,582 $ 13,200 Freedom Holding Corp. — 20,500 Accrued interest 1,443 690 Total debt securities issued $ 60,025 $ 34,390 As of March 31, 2023, the Company's outstanding debt securities had fixed annual coupon rates of 5.5% and maturity date in October 2026. As of March 31, 2022, the Company’s outstanding debt securities had fixed annual coupon rates ranging from 5.5% to 7% and maturity dates ranging from December 2022 to October 2026. As of December 31, 2022, the Company fully redeemed FRHC notes, which were issued from December 2019 to February 2020. The FRHC notes denominated in U.S. dollars, bear interest at an annual rate of 7% and were due in December 2022. The FRHC notes were issued under Astana International Financial Centre law and traded on the AIX. The Company’s debt securities as of March 31, 2023, include $58,582 of Freedom SPC bonds issued in October 2021. The Freedom SPC bonds are denominated in U.S. dollars, bear interest at an annual rate of 5.5% and are due in October 2026. The Freedom SPC bonds were issued under Astana International Financial Centre law and trade on the AIX. FRHC is a guarantor of the Freedom SPC bonds. The proceeds from the issuance of the Freedom SPC bonds were loaned to FRHC pursuant to a loan agreement dated November 22, 2021. The interest rate under the loan agreement is 5.5% per annum. Interest payments are duly semi-annually in April and October. Repayment of the loan is due October 2026. Debt securities issued are initially recognized at the fair value of the consideration received, less directly attributable transaction costs. The group has no covenants to comply with.

INSURANCE CONTRACTS ASSETS AND

INSURANCE CONTRACTS ASSETS AND LIABILITIES FROM INSURANCE ACTIVITIES	12 Months Ended
	Mar. 31, 2023
Insurance [Abstract]
INSURANCE CONTRACTS ASSETS AND LIABILITIES FROM INSURANCE ACTIVITIES	INSURANCE CONTRACTS ASSETS AND LIABILITIES FROM INSURANCE ACTIVITIES As of March 31, 2023, and March 31, 2022, insurance and reinsurance receivables of the Company was comprised of the following: March 31, 2023 March 31, 2022 Assets: (Recasted) Amounts due from policyholders $ 9,699 $ 3,500 Claims receivable from reinsurance 1,087 769 Amounts due from reinsured 555 23 Less provision for impairment losses (1,325) (343) Insurance and reinsurance receivables: 10,016 3,949 Unearned premium reserve, reinsurers’ share 2,379 143 Reserves for claims and claims’ adjustment expenses, reinsurers’ share 1,390 1,620 Total $ 13,785 $ 5,712 As of March 31, 2023, and March 31, 2022, the premium receivables from policyholders increased due to the expansion of operations. As of March 31, 2023, and March 31, 2022, insurance and reinsurance payable of the Company was comprised of the following: March 31, 2023 March 31, 2022 Liabilities: (Recasted) Amounts payable to agents and brokers $ 2,466 $ 1,981 Amounts payable to reinsurers 2,002 402 Amounts payable to insured 1,807 685 Insurance and reinsurance payables: 6,275 3,068 Unearned premium reserve 43,082 17,985 Reserves for claims and claims’ adjustment expenses 133,145 101,034 Total $ 182,502 $ 122,087 As of March 31, 2023, and March 31, 2022, liabilities from insurance activity mainly changed due to the increase of reserves for claims and claim's adjustment expenses, unearned premium reserve and the amount payable to agents and brokers as a result of the expansion of operations.

OTHER LIABILITIES

OTHER LIABILITIES	12 Months Ended
	Mar. 31, 2023
Risks and Uncertainties [Abstract]
OTHER LIABILITIES	OTHER LIABILITIES As of March 31, 2023 and 2022, other liabilities of the Company included the following: March 31, 2023 March 31, 2022 (Recasted) Salaries and other employee benefits $ 4,970 $ 2,120 Payable to suppliers 3,623 3,308 Vacation reserve 3,261 1,400 Taxes payable other than income tax 2,782 567 Deferred income tax liabilities 694 — Deferred distribution payments 156 8,534 Loans received 1 3,538 Outstanding settlements operations — 292 Other 7,385 1,718 Total other liabilities $ 22,872 $ 21,477

FEE AND COMMISSION INCOME

FEE AND COMMISSION INCOME	12 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
FEE AND COMMISSION INCOME	FEE AND COMMISSION INCOME Fee and commission income is recognized when, or as, the Company satisfies its performance obligations by transferring the promised services to the customers. A service is transferred to a customer when, or as, the customer obtains control of that service. A performance obligation may be satisfied at a point in time or over time. Revenue from a performance obligation satisfied at a point in time is recognized at the point in time that the Company determines the customer obtains control over the promised service. Revenue from a performance obligation satisfied over time is recognized by measuring the Company’s progress in satisfying the performance obligation in a manner that depicts the transfer of the services to the customer. The amount of revenue recognized reflects the consideration the Company expects to receive in exchange for those promised services (i.e., the “transaction price”). In determining the transaction price, the Company considers multiple factors, including the effects of variable consideration, if any. The Company’s revenues from contracts with customers are recognized when the performance obligations are satisfied at an amount that reflects the consideration expected to be received in exchange for such services. The majority of the Company’s performance obligations are satisfied at a point in time and are typically collected from customers by debiting their brokerage account with the Company. Brokerage Services and Bank services Commissions from brokerage services — The Company earns commission revenue by executing, settling and clearing transactions with clients primarily in exchange-traded and over-the-counter corporate equity and debt securities, money market instruments and exchange-traded options and futures contracts. Commissions from bank services — The Company earns bank commissions by executing client order for money transfer, purchase and sale of foreign currency, and other bank services. A substantial portion of the Company's revenue is derived from commissions from private clients through accounts with transaction-based pricing. Trade execution and clearing services, when provided together, represent a single performance obligation, as the services are not separately identifiable in the context of the contract. Commission revenue associated with combined trade execution and clearing services, as well as trade execution services on a standalone basis, are recognized at a point in time on trade date when the performance obligation is satisfied. Commission revenue is generally paid on settlement date, which is generally two business days after trade date for equity securities and corporate bond transactions and one day for government securities, options and commodities transactions. The Company records a receivable on the trade date and receives a payment on the settlement date. Investment Banking The Company earns underwriting revenues by providing capital raising solutions for corporate clients through initial public offerings, follow-on offerings, equity-linked offerings, private investments in public entities, and private placements. Underwriting revenues are recognized at a point in time on placement date, as the client obtains the control and benefit of the capital markets offering at that point. These fees are generally received within 90 days after the placement date. Transaction-related expenses, primarily consisting of legal, travel and other costs directly associated with the transaction, are included in underwriting revenues. These costs are deferred and recognized in the same period as the related investment banking transaction revenue. However, if the transaction is abandoned and does not close, the accounting treatment for the transaction-related costs may differ. In such cases, the accounting principles typically require the immediate recognition of the transaction-related expenses as an expense in the period in which the decision to abandon the transaction is made. This ensures that the costs associated with the abandoned transaction are recognized and reflected accurately in the financial statements of the entity. Receivables and Contract Balances Receivables arise when the Company has an unconditional right to receive payment under a contract with a customer and are derecognized when the cash is received. Margin lending, brokerage and other receivables are disclosed in Note 7 in the notes to consolidated financial statements. Contract assets arise when the revenue associated with the contract is recognized before the Company’s unconditional right to receive payment under a contract with a customer (i.e., unbilled receivable) and are derecognized when either it becomes a receivable or the cash is received. As of March 31, 2023 and March 31, 2022, contract asset balances were not material. Contract liabilities arise when customers remit contractual cash payments in advance of the Company satisfying its performance obligations under the contract and are derecognized when the revenue associated with the contract is recognized either when a milestone is met triggering the contractual right to bill the customer or when the performance obligation is satisfied. As of March 31, 2023 and March 31, 2022, contract liability balances were not material. During the year ended March 31, 2023, March 31, 2022 and March 31, 2021, fee and commission income was comprised of: Year ended March 31, 2023 Central Asia and Eastern Europe Europe, excluding Eastern Europe U.S. Total Brokerage services 68,224 214,093 4,415 286,732 Bank services 17,964 — — 17,964 Underwriting and market-making services 11,538 — 410 11,948 Other fee and commission income 9,256 1,315 — 10,571 Total fee and commission income 106,982 215,408 4,825 327,215 Year ended March 31, 2022 (Recasted) Central Asia and Eastern Europe Europe, excluding Eastern Europe U.S. Total Brokerage services 7,908 306,245 4,545 318,698 Bank services 6,727 — — 6,727 Underwriting and market-making services 5,963 — — 5,963 Other fee and commission income 3,054 769 — 3,823 Total fee and commission income 23,652 307,014 4,545 335,211 Year ended March 31, 2021 (Recasted) Central Asia and Eastern Europe Europe, excluding Eastern Europe U.S. Total Brokerage services 8,803 194,311 1,130 204,244 Bank services 523 — — 523 Underwriting and market-making services 6,451 — — 6,451 Other fee and commission income 4,790 — — 4,790 Total fee and commission income 20,567 194,311 1,130 216,008

NET GAIN ON TRADING SECURITIES

NET GAIN ON TRADING SECURITIES	12 Months Ended
	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
NET GAIN ON TRADING SECURITIES	NET GAIN ON TRADING SECURITIES For year ended March 31, 2023, 2022 and 2021, net gain on trading securities included the following: Year ended March 31, 2023 Year ended March 31, 2022 Year ended March 31, 2021 (Recasted) (Recasted) Net unrealized gain/(loss) recognized during the reporting period on trading securities still held at the reporting date $ 107,310 $ (50,987) $ 8,672 Net (loss)/gain recognized during the period on trading securities sold during the period (36,226) 206,239 20,135 Net gain recognized during the period on trading securities $ 71,084 $ 155,252 $ 28,807 The Company held SPB Exchange shares and SPB Exchange ETF units in its proprietary account as of March 31, 2023, March 31, 2022 and March 31, 2021 at fair value of $478, $18,408, and $11,259, respectively. During the year ended March 31, 2023, the Company sold 7,500,000 SPB Exchange shares and realized loss from sale in the amount of $73,384, which included $50,785 of unrealized net loss recognized during previous periods that was reclassified to realized net loss during the year ended March 31, 2023. As a result, during the year ended March 31, 2023, the Company recognized net gain on trading securities of $71,084, which included $36,226 of realized net loss and $107,310 of unrealized net gain.

NET INTEREST INCOME_ (EXPENSE)

NET INTEREST INCOME/ (EXPENSE)	12 Months Ended
	Mar. 31, 2023
Interest Income (Expense), Net [Abstract]
NET INTEREST INCOME/ (EXPENSE)	NET INTEREST INCOME/EXPENSE Net interest income/expense includes: Year ended March 31, 2023 Year ended March 31, 2022 Year ended March 31, 2021 Interest income: (Recasted) (Recasted) Interest income on trading securities $ 178,288 $ 78,327 $ 21,913 Interest income on margin lending 34,558 14,164 3,163 Interest income on loans issued 43,486 4,617 384 Interest income on available-for-sale securities 27,003 22,437 11,238 Interest income on cash and cash equivalents and restricted cash 9,836 1,658 1,630 Interest income from dividends 1,524 406 146 Total interest income $ 294,695 $ 121,609 $ 38,474 Interest expense: Interest expense on securities repurchase agreement obligations $ 158,595 $ 58,229 $ 10,915 Interest expense on customer liabilities 40,335 16,336 7,335 Interest expense on margin lending payable 6,635 — — Interest expense on debt securities issued 3,085 1,822 4,034 Interest expense on loans received 290 539 151 Other interest expense 7 21 9 Total interest expense $ 208,947 $ 76,947 $ 22,444 Net interest income $ 85,748 $ 44,662 $ 16,030

NET GAIN_(LOSS) ON FOREIGN EXCH

NET GAIN/(LOSS) ON FOREIGN EXCHANGE OPERATIONS	12 Months Ended
	Mar. 31, 2023
Research and Development [Abstract]
NET GAIN/(LOSS) ON FOREIGN EXCHANGE OPERATIONS	NET GAIN/(LOSS) ON FOREIGN EXCHANGE OPERATIONS Net gain on foreign exchange operations includes: Year ended March 31, 2023 Year ended March 31, 2022 Year ended March 31, 2021 (Recasted) (Recasted) Sales and purchases of foreign currency, dealing $ 45,963 $ (4,057) $ 609 Translation of financial assets and financial liabilities 6,191 7,848 (52) Total net gain on foreign exchange operations $ 52,154 $ 3,791 $ 557

NET (LOSS)_GAIN ON DERIVATIVES

NET (LOSS)/GAIN ON DERIVATIVES	12 Months Ended
	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
NET (LOSS)/GAIN ON DERIVATIVES	NET (LOSS)/GAIN ON DERIVATIVES For years ended March 31, 2023, 2022 and 2021, net (loss)/gain on derivatives included the following: Year ended March 31, 2023 Year ended March 31, 2022 Year ended March 31, 2021 (Recasted) (Recasted) Net realized (loss)/gain on derivatives (64,838) 946 86 Net unrealized loss/(gain) on derivatives 12 — — Total net (loss)/gain on derivatives $ (64,826) $ 946 $ 86 During the year ended March 31, 2023, Freedom Bank KZ realized loss on derivatives in the amount of $65,303 as a result of engaging in currency swaps mostly on the Kazakhstan Stock Exchange ("KASE") and Moscow Stock Exchange (“MOEX”).

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Mar. 31, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS During the years ended March 31, 2023, 2022 and 2021, the Company engaged in various related party transactions, a substantial amount of which were conducted with Freedom Securities Trading Inc. (formerly known as FST Belize Services, Inc.) (“FST Belize”), a Belize company which is wholly owned personally by the Company’s chief executive officer, chairman and majority shareholder, Timur Turlov, and is not part of the FRHC group of companies. FST Belize has its own brokerage customers, which include individuals and market-maker institutions and conducts business with the Company through a client omnibus account at Freedom EU. Fee and commission income earned from related parties is comprised primarily of brokerage commissions principally FST Belize. Fee and commission income earned from FST Belize principally consists of fees and commissions paid by FST Belize to Freedom EU to execute trades requested by brokerage customers of FST Belize, as well as commissions paid by FST Belize for order flow, which is net compensation received from firms to which our broker-dealer subsidiaries send equity and options orders, and fees for outstanding short sale positions. During the years ended March 31, 2023, 2022 and 2021, the Company earned fee and commission income from related parties in the amounts of $199,235, $291,163 and $184,725, respectively. Fee and commission income generated from FST Belize accounted for approximately 99% of the Company's total related party fee and commission income for the year ended March 31, 2023, as compared to approximately 94% and 36% of the Company's total related party fee and commission income for the years ended March 31, 2022 and 2021. Interest income earned from related parties is comprised entirely of interest income from FST Belize, principally interest income from margin lending. During the years ended March 31, 2023, 2022 and 2021, the Company earned interest income from related parties in the amounts of $23,191, $10,191 and $2,250, respectively. Interest income generated from FST Belize accounted for approximately 100% of the Company's total related party interest income for the year ended March 31, 2023, as compared to approximately 100% and 97% of the Company's total related party interest income for the years ended March 31, 2022 and 2021. During the years ended March 31, 2023, 2022 and 2021, the Company paid fee and commission expense for brokerage services to Wisdompoint Capital LTD and FST Belize in the amount of $2,988, $16,307 and $20,291, respectively. Margin lending, brokerage and other receivables from related parties result principally from borrowings made under margin loans by related parties, principally FST Belize. As of March 31, 2023 and March 31, 2022, the Company had margin lending receivables with related parties totaling $294,985 and $107,649, respectively. 98% and 95% of these balances were due from FST Belize. Margin lending receivables from FST Belize principally represent margin loans granted by Freedom EU to FST Belize. As of March 31, 2023, and March 31, 2022, the Company had bank commission receivables and receivables from brokerage clients from related parties totaling $626 and $244, respectively. As of March 31, 2023, and March 31, 2022, the Company had margin lending payables to related parties, totaling $3,239 and $38,889, respectively. 100% of these balances were due to Wisdompoint Capital LTD, as of March 31, 2023 and March 31, 2022, respectively. Wisdompoint Capital LTD (formerly Tradernet Limited) is a Cyprus company related to Freedom EU through common management. Wisdompoint Capital LTD provides brokerage services to the Company. As of March 31, 2022, the Company had amounts due to Timur Turlov related to the purchase price for the acquisition by the Company from Timur Turlov of two insurance companies, Freedom Life and Freedom Insurance, totaling $21,477. During the year ended March 31,2023 the amount is fully repaid. As of March 31, 2023 the Company had the prepayment on acquisition of Internet Tourism LLP and Aviata LLP, companies outside of the FRHC group where Timur Turlov has significant influence acquired after the reporting date, in the amount of $16,089. As of March 31, 2023, and March 31, 2022, the Company had customer liabilities to related parties totaling $130,210 and $325,904, respectively. As of March 31, 2023, and March 31, 2022, 18% and 75%, respectively, of these balances were deposits from FST Belize held by Freedom EU related to brokerage services provided by Freedom EU to FST Belize, whereas 36% and 17%, respectively, were from Fresh Start Trading, a company outside of the FRHC group which is primarily owned by Denis Matafonov, and 25% and 6%, respectively, from Wisdompoint Capital LTD.. As of March 31, 2023, and March 31, 2022, the Company had restricted customer cash deposited in current and brokerage accounts with related parties in the amounts of $114,885 and $222,651. As of March 31, 2023, and March 31, 2022, 40% and 78%, respectively, of these balances were from FST Belize, 60% and 22%, respectively, were from Wisdompoint Capital LTD. As of March 31, 2023, and March 31, 2022 the Company had loans issued which includes uncollateralized bank customer loans purchased from a related party, microfinance organization Freedom Finance Credit (“FFIN Credit”) a company outside of the FRHC group which is controlled by Timur Turlov, in the amount of $121,177 and $35,293, respectively. As of March 31, 2023, and March 31, 2022 the Company had cash and cash equivalents held in brokerage accounts of related parties totaling $35,549 and $22,787 respectively. 100% of these balances were due to Wisdompoint Capital LTD. In July 2021 the Company sold 23.88% of its outstanding equity interest in Freedom UA for $415 to Askar Tashtitov, the Company’s president, reducing the Company's direct ownership interest in Freedom UA to approximately 9%. Margin lending, brokerage and related banking services were provided to related parties pursuant to standard client account agreements and at standard market rates.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Mar. 31, 2023
Equity [Abstract]
STOCKHOLDERS’ EQUITY	STOCKHOLDERS' EQUITYOn October 6, 2022, the Company awarded a restricted stock grant totaling 20,000 shares of its common stock to key employees of the Company. Of the 20,000 shares awarded pursuant to the restricted stock grant awards, 4,000 shares vested on the date of the award, 4,000 shares vest on May 18, 2023, 4,000 shares vest on May 18, 2024, 4,000 shares vest on May 18, 2025 and 4,000 shares vest on May 18, 2026. On March 10, 2023 and on October 11, 2022, the Company awarded a stock grant totaling 18,974 and 18,242 shares of its common stock, respectively, to key employees of the Company's subsidiary, which vested on the date of the award, and on October 20, 2022, the Company awarded a stock grant totaling 8,000 shares of its common stock to a consultant of the Company, which vested on the date of the award. In May 2022, Freedom KZ completed the acquisition of two insurance companies, Freedom Life and Freedom Insurance. Prior to being acquired by the Company, these two companies were 100% controlled by Timur Turlov. The consideration for the purchase was $26,588. The Company was required to pay the purchase price to Timur Turlov by no later than December 31, 2022. As at March 31,2023 Freedom KZ has repaid the payable for acquisition of Freedom Life and of Freedom Insurance. During the years ended March 31, 2023 and 2022, Timur Turlov made a capital contribution to the Company in the amount of $677 and $24,417, respectively. During the year ended March 31,2023 the Company completed a placement of 59,763 shares of its common stock. The shares of common stock were used for purchase of LD Micro. On March 30, 2022, the Company awarded a restricted stock grant totaling 7,500 shares of its common stock to one executive officer of the Company. Of the 7,500 shares awarded pursuant to the restricted stock grant awards, 3,000 shares vest on May 18, 2023, 1,500 shares vest on May 18, 2024, 1,500 shares vest on May 18, 2025 and 1,500 shares vest on May 18, 2026. On May 18, 2021, the Company awarded restricted stock grants totaling 1,031,500 shares of its common stock to 56 employees and consultants of the Company, including two executive officers of the Company. Of the 1,031,500 shares awarded pursuant to the restricted stock grant awards, 200,942 shares are subject to one-year vesting, 211,658 shares are subject to two-year vesting and 206,300 shares per year are subject to three four The Company recorded stock-based compensation expense for restricted stock grants in the amount of $11,038 during the year ended March 31, 2023. The Company recorded stock-based compensation expense for restricted stock grants and stock options in the amount of $15,745 and $1,147 during the year ended March 31, 2022 and March 31, 2021, respectively.

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION	12 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]
STOCK BASED COMPENSATION	STOCK BASED COMPENSATION On October 6, 2022, the Company awarded 20,000 shares of its common stock to key employees of the Company. Of the 20,000 shares 4,000 shares vested on the date of the award, 4,000 shares vested on May 18, 2023, 4,000 shares will vest on May 18, 2024, 4,000 shares will vest on May 18, 2025 and 4,000 shares will vest on May 18, 2026. On March 10, 2023 and on October 11, 2022, the Company awarded 18,974 and 18,242 shares of its common stock, respectively to key employees of the Company's subsidiary, which vested on the date of the award. Additionally on October 20, 2022, the Company awarded 8,000 shares of its common stock to a consultant of the Company, which vested on the date of the award. The compensation expense related to restricted stock awards was $8,158 during the year ended March 31, 2023, and $15,745 during the year ended March 31, 2022. As of March 31, 2023, there was $8,133 of total unrecognized compensation cost related to non-vested shares of stock awarded. The cost is expected to be recognized over a weighted average period of 3.07 years. The compensation expense related to stock awards, which vested on the date of the award was $2,880 during the year ended March 31, 2023, and $0 during the year ended March 31, 2022. The Company has determined the fair value of shares awarded during the year ended March 31, 2023, using the Monte Carlo valuation model based on the following key assumptions: Term (years) 3.62 Volatility 35.1 % Risk-free rate 4.18 % The table below summarizes the activity for the Company's stock awards outstanding during the year ended March 31, 2023: Shares Weighted Outstanding, March 31, 2022 1,049,500 40,303 Granted 65,216 3,506 Vested (274,158) (11,484) Forfeited/cancelled/expired (373,500) (14,290) Outstanding, March 31, 2023 467,058 18,035

LEASES

LEASES	12 Months Ended
	Mar. 31, 2023
Leases [Abstract]
LEASES	LEASES At March 31, 2023, the Company was obligated under a number of noncancellable leases, predominantly operating leases of office space, which expire at various dates through 2033. Our primary involvement with leases is in the capacity as a lessee where we lease premises to support our business. The Company determines whether a contract is or contains a lease at inception of the contract and whether that lease meets the classification criteria of a finance or operating lease. Operating lease liabilities and ROU assets are recognized at the lease commencement date based on the present value of the future minimum lease payments over the lease term. The future lease payments are discounted at a rate that estimates the Company’s collateralized borrowing rate for financing instruments of a similar term and are included in accounts payable and other liabilities. The operating lease ROU asset, included in premises and equipment, also includes any lease prepayments made, plus initial direct costs incurred, less any lease incentives received. Rental expense associated with operating leases is recognized on a straight-line basis over the lease term, and generally included in occupancy expense in the Consolidated Statements of Operations. Certain of these leases also have extension or termination options, and we assess the likelihood of exercising such options. If it is reasonably certain that we will exercise the options to extend, then we include the impact in the measurement of our right-of-use assets and lease liabilities. When readily determinable, the Company uses the rate implicit in the lease to discount lease payments to present value; however, the rate implicit on most of the Company's leases are not readily determinable. Therefore, the Company must discount lease payments based on an estimate of its incremental borrowing rate. The table below presents the lease related assets and liabilities recorded on the Company's consolidated balance sheets as of March 31, 2023: Classification on Balance Sheet March 31, 2023 Assets Operating lease assets Right-of-use assets $ 30,345 Total lease assets $ 30,345 Liabilities Operating lease liability Operating lease obligations $ 30,320 Total lease liability $ 30,320 The following table presents as of March 31, 2023, the annual maturities of the lease liabilities: Twelve months ending March 31, 2024 $ 9,413 2025 7,971 2026 7,543 2027 6,629 2028 4,766 Thereafter 4,199 Total payments 40,521 Less: amounts representing interest (10,201) Lease liability $ 30,320 Weighted average remaining lease term (in months) 21 Weighted average discount rate 13 % Lease commitments for short-term operating leases as of March 31, 2023 was approximately $457. The Company's rent expense for office space was $2,038 for the year ended March 31, 2023, $1,026 for the year ended March 31, 2022 and $624 for the year ended March 31, 2021 respectively. The company has leases that involve variable payments tied to an index, which are considered in the measurement of operating lease right-of-use (ROU) assets and operating lease liabilities.

ACQUISITIONS OF SUBSIDIARIES

ACQUISITIONS OF SUBSIDIARIES	12 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS OF SUBSIDIARIES	ACQUISITIONS OF SUBSIDIARIES On May 17, 2022, the Company acquired two insurance companies in Kazakhstan, a life insurance company, Freedom Life, and a direct insurance carrier, Freedom Insurance, which provides compulsory insurance, medical insurance, apartment insurance, and auto insurance. Prior to acquiring these companies, each was wholly owned by controlling shareholder, chairman and chief executive officer, Timur Turlov, who acquired Freedom Finance Life on March 14, 2018 and Freedom Finance Insurance on August 22, 2018 from a non-related party. The Company acquired these companies from him at the historical cost paid by him plus amounts he has contributed as additional paid in capital since his purchase. These companies were not initially acquired directly by the Company because at the time they were put on the market for sale by their prior owner they did not have audit reports conforming to U.S. GAAP standards and had not demonstrated sustained profitability. The purchase price for Freedom Insurance was $13,977 and the purchase price for Freedom Life was $12,611. Acquisition of Freedom Life When preparing the consolidated financial statements for the year ended March 31, 2023, management determined that this acquisition should be accounted for under the pooling of interest method and as a result recasted the comparative financial information. The acquisition from Timur Turlov was deemed to be under common control with the Company since it was acquired on February 28, 2018. The transaction has been accounted for as a restructuring transaction and all the assets and liabilities of Freedom Life were transferred to the Company at their respective carrying amounts on the date of transaction. As of the acquisition date by Timur Turlov, the fair value of Freedom Life was $12,076. The total purchase price was allocated as follows: Purchase price allocation ASSETS Cash and cash equivalents $ 3,494 Due from banks 2,514 Loans issued 2 Other assets 1,671 Assets from insurance activity 3,729 Deferred acquisition costs 542 Available-for-sale securities, at fair value 15,842 Fixed assets 171 Intangible assets 5,823 Deferred tax assets 141 TOTAL ASSETS 33,929 Deferred income tax liabilities 47 Other liabilities 139 Liabilities from insurance activity 21,667 TOTAL LIABILITIES 21,853 Net assets acquired 12,076 Goodwill 526 Total purchase price 7,009 Fair value of non-controlling interest at acquisition 5,593 For more information on how the acquisition impacted the Company's consolidated financial statements for the comparative years, please refer to Note 3 "Recast" to these consolidated financial statements. Acquisition of Freedom Insurance When preparing the consolidated financial statements for the year ended March 31, 2023, management determined that this acquisition should be accounted for under the pooling of interest method and as a result recasted the comparative financial information. The acquisition from Timur Turlov was deemed to be an entity under common control with the Company since it was acquired on August 22, 2018. The transaction has been accounted for as a restructuring transaction and all the assets and liabilities of Freedom Insurance were transferred to the Company at their respective carrying amounts on the date of transaction. As of the acquisition date by Timur Turlov, the fair value of Freedom Insurance was $4,101. The total purchase price was allocated as follows: Purchase price allocation ASSETS: Cash and cash equivalents $ 1,224 Due from banks 1,041 Other assets 17 Assets from insurance activity 45 Current income tax asset 5 Available-for-sale securities, at fair value 1,846 Fixed assets 2 Intangible assets 207 Deferred tax assets 2 TOTAL ASSETS 4,389 Other liabilities 214 Liabilities from insurance activity 74 TOTAL LIABILITIES 288 Net assets acquired 4,101 Goodwill 187 Total purchase price 4,288 For more information on how the acquisition impacted the Company's consolidated financial statements for the comparative years, please refer to Note 3 "Recast" to these consolidated financial statements. Acquisition of London-Almaty On September 1, 2022, the Company completed the acquisition of Insurance Company IC "London-Almaty", following receipt of the approval from the Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market, by purchasing 100% of its outstanding shares. The Company acquired IC "London-Almaty" to expand its presence in the insurance sector. This acquisition was accounted for under the purchase accounting method as it was not an acquisition of entities under common control. As of September 1, 2022, the date of the acquisition of IC "London-Almaty", the fair value of IC "London-Almaty" was $15,858. The total purchase price was allocated as follows: As of September 1, 2022 ASSETS Cash and cash equivalents $ 8,077 Due from banks 2,176 Trading securities 6,178 Value of business acquired 1,677 Assets from insurance activities 3,401 Fixed assets 806 Intangible assets 127 Other assets 1,505 TOTAL ASSETS 23,947 Insurance reserves 6,380 Liabilities from insurance activity 1,429 Other liabilities 280 TOTAL LIABILITIES 8,089 Net assets acquired 15,858 Goodwill 485 Total purchase price $ 16,343 On December 15, 2022, IC "London-Almaty" was merged into Freedom Insurance and its separate legal existence was terminated. The assets and liabilities of IC "London-Almaty" were transferred to Freedom Insurance at their respective carrying amounts on the date of the merger was completed. Acquisition of Ticketon As of September 30, 2022, the date of the acquisition of Ticketon by purchasing 100% of its authorized capital. The Company acquired Ticketon to accelerate its growth in fintech sector. This acquisition was accounted for under the purchase accounting method as it was not an acquisition of entities under common control. The fair value of Ticketon on the date of the acquisition was $1,233. The total purchase price was allocated as follows: ASSETS Cash and cash equivalents $ 3,079 Brokerage and other receivables 175 Fixed assets 47 Intangible assets 1,424 Right-of-use asset 63 Other assets 627 TOTAL ASSETS 5,415 Deferred income tax liabilities 36 Lease liability 79 Other liabilities 4,067 TOTAL LIABILITIES 4,182 Net assets acquired 1,233 Goodwill 1,771 Total purchase price $ 3,004 Acquisition of Paybox On February 10, 2023, the Company completed the acquisition Kazakhstan company Paybox Technologies LLP and its subsidiaries ("Paybox") in order to expand activities in the field of financial technologies. The purchase price for the acquisition of Paybox was $11,659. This acquisition was accounted for under the purchase accounting method as it was not an acquisition of entities under common control. As of February 10, 2023, at the date of the acquisition the fair value of Paybox Technologies LLP and its subsidiaries was $11,659. The total purchase price was allocated as follows: ASSETS Cash and cash equivalents 5,429 Trading securities 3,838 Brokerage and other receivables 1,726 Fixed assets 1,080 Intangible assets 3,288 Right-of-use asset 341 Goodwill 932 Other assets 454 TOTAL ASSETS 17,088 Securities repurchase agreement obligations 3,037 Trade payables 799 Lease liability 993 Other liabilities 600 TOTAL LIABILITIES 5,429 Net assets acquired 11,659 Goodwill — Total purchase price 11,659 Acquisition of LD Micro As of March 2, 2023, the date of acquisition, the fair value of LD Micro comprised $2,526. This acquisition was accounted for under the purchase accounting method as it was not an acquisition of entities under common control. The total purchase price was allocated as follows: As of March 2, 2023 ASSETS Intangible assets 2,540 TOTAL ASSETS 2,540 Trade payables 14 TOTAL LIABILITIES 14 Net assets acquired 2,526 Goodwill 5,774 Total purchase price 8,300

ASSETS AND LIABILITIES HELD FOR

ASSETS AND LIABILITIES HELD FOR SALE	Oct. 17, 2022
Discontinued Operations and Disposal Groups [Abstract]
ASSETS AND LIABILITIES HELD FOR SALE	ASSETS AND LIABILITIES HELD FOR SALE In the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2022, the Company announced its plans to divest its interests in its Russian securities brokerage and complementary banking operations in Russia (the "Russia Segment"). On October 17, 2022, the Company entered into an agreement with Maxim Povalishin for the divestiture of 100% of the share capital of the companies comprising the Russia Segment. Maxim Povalishin, the purchaser, was at the time of the transaction the Deputy General Director and a member of the Board of Directors of Freedom RU. The transaction was approved by the Central Bank of the Russian Federation on February 10, 2023, and the divestiture was completed on February 28, 2023 (disposal date). The consideration for the purchase of the Russian Subsidiaries consists of the following: • Mr. Povalishin was assigned the Company’s obligation to Freedom RU under an outstanding deferred payment in the amount of approximately RUB 6.6 billion (approximately $88.5 million) (the “Deferred Payment Obligation”) which resulted from the purchase by the Company of 90.43% of the share capital of Freedom RU’s Kazakhstan subsidiary Freedom Finance JSC (“Freedom KZ”) (with its subsidiaries) from Freedom RU as part of a corporate restructuring, as a result of which the Company has become the 100% direct owner of Freedom KZ. The agreement for the purchase of Freedom KZ was entered on September 13, 2022, that was approved by regulatory body and finalized during November 2022; and • Mr. Povalishin paid cash in an amount equal to (x) $140 million less (y) the amount of the Deferred Payment Obligation as translated into U.S. dollars at the official exchange rate on the closing date. In addition, in July 2022, Freedom RU established a Russian subsidiary Freedom Finance Auto LLC. In January 2023, Freedom RU concluded an agreement to divest this new subsidiary to Mr. Povalishin for RUB 50 million (approximately $695 based on the applicable currency exchange rate on the reporting date). On February 7, 2023, the sale of Freedom Finance Auto LLC was completed. The Company has classified the Russia Segment as discontinued operations as of March 31, 2022 and for the years ended March 31, 2023, 2022 and 2021, because the subsidiaries sold in this transaction met the held for sale criteria as of March 31, 2022. In accordance with US GAAP, the cumulative translation adjustment attributable to the Russia Segment of $25,415 was reclassified from Accumulated Other Comprehensive Loss within the Consolidated Balance Sheet as of disposal date to Loss from Disposal of Discontinued Operations within Consolidated Statements of Operations and Other Comprehensive Income. In accordance with US GAAP, the Company has reported separately the discontinued operations in the consolidated financial statements. As of disposal date and March 31, 2022, the major classes of assets and liabilities from discontinued operations included the following: February 28, 2023 March 31, 2022 Cash and cash equivalents 593,953 428,480 Restricted cash 6,033 28,406 Trading securities 113,845 122,497 Margin lending, brokerage and other receivables, net 257,184 210,087 Loans issued 23,169 2,395 Other assets 32,398 33,554 Total assets held for sale 1,026,582 825,419 Customer liabilities 776,425 701,584 Securities repurchase agreement obligations 33,275 32,469 Debt securities issued 34,379 64,637 Other liabilities 16,385 13,788 Total liabilities held for sale 860,464 812,478 The results of operations for discontinued operations for the eleven months ended February 28, 2023 and for the years ended March 31, 2022 and 2021, consist of the following: For The Eleven Months Ended February 28, 2023 For The Year Ended March 31, 2022 For The Year Ended March 31, 2021 Fee and commission income 77,109 69,742 52,780 Net gain/(loss) on trading securities 22,045 (78,674) 20,275 Net loss on derivative (44) — 39 Interest income 53,410 28,399 11,221 Net gain/(loss) on foreign exchange operations 45,859 (39,672) 2,285 TOTAL REVENUE, NET 198,379 (20,205) 86,600 Payroll and bonuses 58,971 39,114 24,827 Professional services 620 467 239 Stock compensation expense 1,743 7,887 1,033 Advertising expense 14,945 7,085 1,881 General and administrative expense 26,031 18,476 14,001 Interest expense 15,051 10,450 8,760 Fee and commission expense 10,467 7,988 7,122 Provision for impairment losses 1,566 779 45 Other (income)/expense, net 825 4,748 174 TOTAL EXPENSE 130,219 96,994 58,082 INCOME/(LOSS) BEFORE INCOME TAX 68,160 $ (117,199) $ 28,518 The net cash flows used in operating and investing activities for discontinued operations for the eleven months ended February 28, 2023 and for the years ended March 31, 2022 and 2021, consist of the following: For The Eleven Months Ended February 28, 2023 For The Year Ended March 31, 2022 For The Year Ended March 31, 2021 (Recasted) (Recasted) Cash Flows From Operating Activities Net income/(loss) from discontinued operations $ 12,424 $ (104,195) $ 21,783 Adjustments to reconcile net income used in operating activities: Depreciation and amortization 2,103 2,035 1,745 Noncash lease expense 5,772 4,932 3,826 Change in deferred taxes 8,203 (12,634) 1,170 Impairment of FFIN Bank goodwill — 723 — Impairment of Zerich goodwill — 810 — Stock compensation expense 1,743 7,887 1,033 Unrealized loss/(gain) on trading securities (35,244) 51,652 (425) Net change in accrued interest (276) 354 (1,921) Client base write-off — 3,125 — Allowances for receivables 1,871 771 41 Loss from divestiture of Russian subsidiaries 51,533 — — Changes in operating assets and liabilities: Trading securities 62,100 (39,354) (100,133) Margin lending, brokerage and other receivables (23,325) (218,852) 28,845 Other assets (2,684) (3,684) (1,292) Securities sold, not yet purchased – at fair value 182 239 23 Customer liabilities (106,396) 198,608 392,855 Current income tax liability 1 (637) 658 Margin lending and trade payables (15) (370) 230 Lease liabilities (5,763) (5,166) (3,854) Other liabilities 3,676 1,256 2,433 Net cash flows from/(used in) operating activities from discontinued operations (24,095) (112,500) 347,017 Cash Flows Used In Investing Activities Purchase of fixed assets (4,421) (3,438) (2,137) Proceeds from sale of fixed assets — — 76 Net change in loans issued to customers (25,331) (945) (171) Cash, cash equivalents and restricted cash disposed from divestiture of Russia segment (599,986) — — Net cash flows used in investing activities from discontinued operations (629,738) (4,383) (2,232) The following table presents reconciliation of loss from disposal of discontinued operations as of disposal date: February 28, 2023 Cash and cash equivalents 593,953 Restricted cash 6,033 Trading securities 113,845 Margin lending, brokerage and other receivables, net 257,184 Loans issued 23,169 Other assets 32,398 Total assets of discontinued operations $ 1,026,582 Customer liabilities 776,425 Securities repurchase agreement obligations 33,275 Debt securities issued 34,379 Other liabilities 16,385 Total liabilities of discontinued operations $ 860,464 Net assets of discontinued operations $ 166,118 Reclassification of unrealized loss from cumulative translation adjustment 25,415 Adjusted net assets of discontinued operations $ 191,533 Consideration received 140,000 Loss from divestiture of discontinued operations $ (51,533)

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Freedom Bank KZ is a party to certain off-balance sheet financial instruments. These financial instruments include guarantees and unfunded commitments under existing lines of credit. These commitments expose the Company to varying degrees of credit and market risk which are essentially the same as those involved in extending loans to customers, and are subject to the same credit policies used in underwriting loans. Collateral may be obtained based on the Company's credit evaluation of the counterparty. The Company's maximum exposure to credit loss is represented by the contractual amount of these commitments. Unfunded commitments under lines of credit Unfunded commitments under lines of credit include commercial, commercial real estate, home equity and consumer lines of credit to existing customers. These commitments may mature without being fully funded. Unfunded commitments under lines of guarantees Unfunded commitments under lines of guarantees are conditional commitments issued by Freedom Bank KZ to provide bank guarantees to customers. These commitments may mature without being fully funded. Bank guarantees Bank guarantees are conditional commitments issued by Freedom Bank KZ to guarantee the performance of a customer to a third party. These guarantees are primarily issued to support trade transactions or guarantee arrangements. The credit risk involved in issuing guarantees is essentially the same as that involved in extending loan facilities to customers. A significant portion of the issued guarantees are collateralized by cash. Total lending related commitments outstanding at March 31, 2023 and 2022, were as follows: As of March 31, 2023 As of March 31, 2022 (Recasted) Unfunded commitments under lines of credit $ 20,617 $ 11,292 Bank guarantees 7,001 6,384 Total $ 27,618 $ 17,676

SEGMENT REPORTING

SEGMENT REPORTING	12 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING We have historically operated as a single operating segment. With the restructuring of our operations and the divestiture of our Russian subsidiaries, coupled with our continued expansion, during the fourth quarter of fiscal 2022 we elected to reorganize our operations geographically into five regional segments: Central Asia and Eastern Europe, Europe, excluding Eastern Europe, United States, Russia and Middle East/Caucasus As a result of the divestiture of our Russian subsidiaries, which was completed in February 2023, we now have four regional segments. These operating segments are based on how our CODM is making decisions about allocating resources and assessing performance. The total revenue, net associated with our segments is summarized in the following table: The following tables summarize the Company's Statement of operation by its geographic segments. There are no revenues from transactions between the segments and intercompany balances were eliminated for separate: Year ended March 31, 2023 STATEMENTS OF OPERATIONS Central Asia and Eastern Europe Europe, excluding Eastern Europe US Middle East/Caucasus Total Fee and commission income (1) $ 106,982 $ 215,408 $ 4,825 $ — $ 327,215 Net gain/(loss) on trading securities 92,330 (22,693) 1,447 — 71,084 Interest income 257,285 26,090 11,289 31 294,695 Insurance underwriting income 115,371 — — — 115,371 Net gain/(loss) on foreign exchange operations 58,908 (2,287) (4,479) 12 52,154 Net loss on derivative (64,826) — — — (64,826) TOTAL REVENUE, NET 566,050 216,518 13,082 43 795,693 Fee and commission expense $ 34,939 $ 29,426 $ 1,238 $ 57 $ 65,660 Interest expense 172,326 22,042 14,579 — 208,947 Insurance claims incurred, net of reinsurance 77,329 — — — 77,329 Payroll and bonuses 56,774 16,090 7,818 1,137 81,819 Professional services 1,594 7,397 7,875 140 17,006 Stock compensation expense 6,582 550 2,161 — 9,293 Advertising expense 7,847 5,900 186 126 14,059 General and administrative expense 34,754 20,496 4,095 626 59,971 Provision for impairment losses 12,522 15,070 1,527 — 29,119 Other (income)/expense, net (4,485) 1,101 (14) (50) (3,448) TOTAL EXPENSE 400,182 118,072 39,465 2,036 559,755 INCOME/(LOSS) BEFORE INCOME TAX FROM CONTINUING OPERATIONS $ 165,868 $ 98,446 $ (26,383) (1,993) $ 235,938 Income tax expense (625) (21,813) (20,278) (60) (42,776) NET INCOME/(LOSS) FROM CONTINUING OPERATIONS $ 165,243 $ 76,633 $ (46,661) (2,053) $ 193,162 Year ended March 31, 2022 (Recasted) STATEMENTS OF OPERATIONS Central Asia and Eastern Europe Europe, excluding Eastern Europe US Middle East/Caucasus Total Fee and commission income (1) $ 23,652 $ 307,014 $ 4,545 $ — $ 335,211 Net gain on trading securities 10,511 142,195 2,546 — 155,252 Interest income 107,075 14,051 483 — 121,609 Insurance underwriting income 72,981 — — — 72,981 Net gain/(loss) on foreign exchange operations 7,824 (5,598) 1,565 — 3,791 Net gain on derivative 946 — — — 946 TOTAL REVENUE, NET 222,989 457,662 9,139 — 689,790 Fee and commission expense 20,610 64,519 780 — 85,909 Interest expense 66,392 8,747 1,808 — 76,947 Insurance claims incurred, net of reinsurance 54,447 — — — 54,447 Payroll and bonuses 32,562 9,419 4,224 83 46,288 Professional services 1,773 5,540 5,295 74 12,682 Stock compensation expense 4,768 677 2,414 — 7,859 Advertising expense 4,684 7,217 9 6 11,916 General and administrative expense 16,770 4,894 1,749 120 23,533 Provision for impairment losses 2,441 61 — — 2,502 Other expense/(income), net 3,138 7 872 (3) 4,014 TOTAL EXPENSE 207,585 101,081 17,151 280 326,097 INCOME/(LOSS) BEFORE INCOME TAX FROM CONTINUING OPERATIONS $ 15,404 $ 356,581 $ (8,012) (280) $ 363,693 Income tax (expense)/benefit 1,195 (26,786) (12,988) 9 (38,570) NET INCOME/(LOSS) FROM CONTINUING OPERATIONS $ 16,599 $ 329,795 $ (21,000) (271) $ 325,123 Year ended March 31, 2021 (Recasted) STATEMENTS OF OPERATIONS Central Asia and Eastern Europe Europe, excluding Eastern Europe US Middle East/Caucasus Total Fee and commission income (1) $ 20,567 $ 194,311 $ 1,130 $ — $ 216,008 Net gain on trading securities 21,310 8 7,489 — 28,807 Interest income 34,158 3,634 682 — 38,474 Insurance underwriting income 62,951 — — — 62,951 Net gain/(loss) on foreign exchange operations 1,072 (300) (215) — 557 Net gain on derivative 86 — — — 86 TOTAL REVENUE, NET 140,144 197,653 9,086 — 346,883 Fee and commission expense 7,412 62,430 695 — 70,537 Interest expense 16,608 3,663 2,173 — 22,444 Insurance claims incurred, net of reinsurance 52,405 — — — 52,405 Payroll and bonuses 16,878 5,398 1,156 3 23,435 Professional services 685 769 2,975 1 4,430 Stock compensation expense — 56 58 — 114 Advertising expense 3,566 3,386 19 — 6,971 General and administrative expense 8,036 2,518 553 11 11,118 Provision for impairment losses 1,086 108 396 — 1,590 Other expense/(income), net 2,052 (3) (15) — 2,034 TOTAL EXPENSE 108,728 78,325 8,010 15 195,078 INCOME/(LOSS) BEFORE INCOME TAX FROM CONTINUING OPERATIONS $ 31,416 $ 119,328 $ 1,076 (15) $ 151,805 Income tax (expense)/benefit 111 (13,859) (9,559) — (23,307) NET INCOME/(LOSS) FROM CONTINUING OPERATIONS $ 31,527 $ 105,469 $ (8,483) (15) $ 128,498 (1) All trading of U.S. and European exchange traded and OTC securities by all Freedom securities brokerage firms, excluding PrimeEx, are routed to and executed through Freedom EU and all fee and commission income for those transactions is recognized at subsidiary received the initial order from external client. The following tables summarize the Company's total asset and total liabilities by its geographic segments. Intercompany balances were eliminated for separate disclosure: March 31, 2023 Central Asia and Eastern Europe Europe, excluding Eastern Europe US Middle East/ Caucasus Held for sale Total Total assets $ 4,303,126 $ 677,425 $ 101,365 $ 2,642 $ 5,084,558 Total liabilities 3,868,326 384,921 60,198 377 4,313,822 Net assets $ 434,800 $ 292,504 $ 41,167 $ 2,265 $ 770,736 March 31, 2022 (Recasted) Central Asia and Eastern Europe Europe, excluding Eastern Europe US Middle East/ Caucasus Held for sale Total Total assets $ 1,466,214 $ 765,698 $ 172,661 $ 355 $ 825,419 $ 3,230,347 Total liabilities 1,206,084 489,884 175,121 172 812,478 2,683,739 Net assets $ 260,130 $ 275,814 $ (2,460) $ 183 $ 12,941 $ 546,608 Central Asia and Eastern Europe Segment Operations in Kazakhstan, Kyrgyzstan, Uzbekistan, and Ukraine, along with our headquarters in Kazakhstan, form our Central Asia and Eastern Europe segment. Within this segment, the Company conduct business under different securities licenses as required by the respective jurisdictions in the Central Asia and Eastern Europe region. Central Asia and Eastern Europe segment provides comprehensive financial solutions, including lending such as digital auto loans ad digital mortgage loans, payments, asset management products, bank guarantees, on demand and time deposits, various types of insurance coverage to meet the needs of our customers and small businesses. Our insurance offerings include life insurance, obligatory insurance, tourist medical health insurance and auto insurance. These insurance products are designed to offer comprehensive coverage and tailored solutions to protect individuals, property, auto and businesses in the event of unforeseen events or risks. Europe excluding Eastern Europe Segment Europe excluding Eastern Europe offers a broad suite of market-making, prime brokerage, lending, and treasury and securities products and services to a global client base of corporations, investors, financial institutions, merchants, government and municipal entities. It caters to clients from the European Union by offering comprehensive solutions to support their investment needs. Our services encompass direct access to the world's largest stock exchanges, providing our clients with a gateway to global investment opportunities. Additionally, our offerings include professional securities analytics, empowering clients with valuable insights and market intelligence to make informed investment decisions. To ensure a seamless experience, it provides user-friendly trading applications that offer convenience and flexibility. US segment US segment provides a wide range of services to meet the needs of its clients. The segment offers a full array of investment banking and capital markets advisory services, including initial public offerings, mergers, and acquisitions, debt and equity financing, corporate banking, trading, hedging, and research, equity research, delivering in-depth analysis, insights into individual stocks and sectors. It provides macro-economic strategy research to help clients navigate the broader economic landscape and make informed investment decisions. To ensure clients are well-informed, the segment offers a daily morning note that covers key market updates, trends, and potential opportunities. It also provides technical research, focusing on chart patterns and technical indicators to assist clients in identifying potential entry and exit points in the market. In addition, the US segment conducts research in specific sectors such as energy and consumer, offering valuable insights into industry trends and company analysis. It facilitates corporate access research, enabling clients to gain access to top management and industry experts for a deeper understanding of specific companies or sectors. Middle East/ Caucasus segment Middle East/Caucasus segment offers securities broker- dealer services, financials educational center services, financial intermediary center services and financial consulting services. The segment is currently in the developmental stage and does not generate profit at the moment. As a developing segment, the focus is on establishing a strong presence, building strategic relationships, and expanding client base in the region.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS The Company has performed an evaluation of subsequent events through the time of filing this annual report on Form 10-K with the SEC. Other than as disclosed below, during this period the Company did not have any additional material recognizable subsequent events. On April 26, 2023, the Company acquired Kazakhstan company Arbuz Group LLP for $16,509. On June 14, 2023, the Company acquired two Kazakhstan companies Aviata LLP and Internet-Tourism LLP, the purchase price for the acquisitions of Aviata LLP and Internet-Tourism LLP were $30,411 and $1,896, respectively. On July 26, 2023, the Company acquired Kazakhstan company ReKassa PCI Reader for $2,500.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Accounting principles	Accounting principles The Company's accounting policies and accompanying consolidated financial statements conform to accounting principles generally accepted in the United States of America (U.S. GAAP).
Basis of presentation and principles of consolidation	Basis of presentation and principles of consolidation The consolidated financial statements present the consolidated accounts of FRHC and its consolidated subsidiaries. All inter-company balances and transactions have been eliminated from the consolidated financial statements.
Consolidation of variable interest entities	Consolidation of variable interest entities In accordance with accounting standards regarding consolidation of variable interest entities ("VIEs"), VIEs are generally entities that lack sufficient equity to finance their activities without additional financial support from other parties or whose equity holders lack adequate decision making ability. VIEs must be evaluated to determine the primary beneficiary of the risks and rewards of the VIE. The primary beneficiary is required to consolidate the VIE for financial reporting purposes. As of March 31, 2023 and 2022 and for the years ended March 31, 2023, 2022 and 2021, the only VIE of the Company was Freedom UA. The carrying amounts of the VIE’s consolidated assets and liabilities are as follows: March 31, 2023 March 31, 2022 Cash and cash equivalents 26 134 Restricted cash 1,936 2,843 Trading securities 4,010 2,942 Margin lending, brokerage and other receivables, net 1,616 435 Fixed assets, net 782 1,043 Intangible assets, net 131 205 Right-of-use asset 135 905 Other assets 56 127 Total assets $ 8,692 8,634 Customer liabilities 5,837 8,439 Securities repurchase agreement obligations 12 3,267 Trade payables 25 35 Lease liability 159 914 Other liabilities 298 434 Total liabilities $ 6,331 13,089 Freedom Securities Trading Inc ("FST Belize") The Company has performed an analysis of Variable Interest Entities (VIEs) to determine if it should consolidate FST Belize in accordance with accounting principles generally accepted in the United States of America (US GAAP). As part of this analysis, the Company considered if FST Belize meets the definition of a variable interest entity, if the Company holds a variable interest in FST Belize and ultimately whether it has the power to control the most significant activities of FST Belize. The Company concluded that FST Belize is not a variable interest entity because it has sufficient equity at risk to finance its activities without additional financial support and the control over its significant activities is held by its sole shareholder, Mr. Timur Turlov who is also the Company's controlling shareholder, chairman and chief executive officer. In addition, the Company concluded that the only potential variable interest it holds in FST Belize is the margin lending provided by the Company and that this margin lending does not expose the Company to variability associated with the operations of FST Belize because it is fully collateralized by liquid marketable securities under the Company’s custody for which the contractual arrangements allow the Company to sell to cover any losses in the margin lending.. Lastly, the Company also considered that it does not have the power to control FST Belize because it does not own any of the voting shares or other contractual arrangements that allow it to control its operations.
Use of estimates	Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management believes that the estimates utilized in preparing the Company's financial statements are reasonable and prudent. Actual results could differ from those estimates.
Revenue and expense recognition	Revenue and expense recognition Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers ("ASC Topic 606"), establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity's contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services promised to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied. A significant portion of the Company's revenue-generating transactions are not subject to ASC Topic 606, including revenue generated from financial instruments, such as loans and investment securities, as these activities are subject to other U.S. GAAP guidance discussed elsewhere within these disclosures. Descriptions of the Company's revenue-generating activities that are within the scope of ASC Topic 606, which are presented in the Consolidated Statements of Operations and Statements of Other Comprehensive Income as components of total revenue, net are as follows: • Commissions on brokerage services; • Commissions on banking services (money transfers, foreign exchange operations and other); and • Commissions on investment banking services (underwriting, market making, and bondholders' representation services). Gross Versus Net Revenue ASC 606 provides guidance on proper recognition of principal versus agent considerations which is used to determine gross versus net revenue recognition. Under ASC 606, the core objective of the guidance on gross versus net revenue recognition is to help determine whether the Company is a principal or an agent in a transaction. In general, the primary difference between these two is the performance obligation being satisfied. The principal has a performance obligation to provide the desired goods or services to the end customer, whereas the agent arranges for the principal to provide the desired goods or services. Additionally, a fundamental characteristic of a principal in a transaction is control. A principal substantively controls the goods and services before they are transferred to the customer as well as controls the price of the good or service being provided. An agent normally receives a commission or fee for these activities. In addition to control, the level at which the Company controls the price of the good or service being transferred determines principal versus agent status. The more discretion over setting price a company has in providing the good or service, the more likely they are considered a principal rather than an agent. In certain cases, other parties are involved with providing products and services to our customers. If the Company is principal in the transaction (providing goods or services itself), revenues are reported based on the gross consideration received from the customer and any related expenses are reported gross in non interest expense. If the Company is an agent in the transaction (arranging for another party to provide goods or services), the Company reports its net fee or commission retained as revenue.
Interest income	Interest income Interest income on margin loans, loans issued, trading securities, available-for-sale securities, and reverse repurchase agreement obligations are recognized based on the contractual provisions of the underlying arrangements. Loan premiums and discounts are deferred and generally amortized into interest income as yield adjustments over the contractual life and/or commitment period using the effective interest method. Unamortized premiums, discounts and other basis adjustments on trading securities are generally recognized in interest income over the contractual lives of the securities using the effective interest method.
Loans	Loans The Company's loan portfolio is divided into: mortgages, uncollateralized bank customer loans, collateralized bank customer loans, car loans, loans issued to policyholders and subordinated loans. Mortgage loans consist of loans provided to individuals to purchase residential homes, which is used as collateral for the loan. Uncollateralized bank customer loans consist of loans provided through credit cards to individuals and retail unsecured banking loans provided to individuals. Collateralized bank customer loans consist of retail collateralized loans provided to individuals. Subordinated loans consist of uncollateralized loans provided to the legal entities to support their businesses, that ranks below other, more senior loans
Derivative financial instruments	Derivative financial instruments In the normal course of business, the Company invests in various derivative financial contracts including futures. Derivatives are initially recognized at fair value at the date a derivative contract is entered into and are subsequently re-measured to their fair value at each reporting date. The fair values are estimated based on quoted market prices or pricing models that take into account the current market and contractual prices of the underlying instruments and other factors. Derivatives are carried as assets when their fair value is positive and as liabilities when it is negative.
Functional currency	Functional currency Management has adopted ASC 830, Foreign Currency Translation Matters as it pertains to its foreign currency translation. The Company's functional currencies are the Kazakhstan tenge, the euro, the U.S. dollar, the Ukrainian hryvnia, the Uzbekistani som, the Kyrgyzstani som, the Azerbaijani manat, the British pound sterling, the Armenian dram, the United Arab Emirates dirham and the Turkish lira, and its reporting currency is the U.S. dollar. For financial reporting purposes, foreign currencies are translated into U.S. dollars as the reporting currency. Monetary assets and liabilities denominated in foreign currencies are translated into U.S. dollars using the exchange rate prevailing at the balance sheet date. Non-monetary assets and liabilities denominated in foreign currencies are translated at rates of exchange in effect at the date of the transaction. Average quarterly rates are used to translate revenues and expenses. Translation adjustments arising from the use of different exchange rates from period to period are included as a component of shareholders' equity as "Accumulated other comprehensive loss". The Company uses exchange rates from the National Bank of the Republic of Kazakhstan for foreign currency translation purposes.
Cash and cash equivalents	Cash and cash equivalents Cash and cash equivalents are generally comprised of certain highly liquid investments with original maturities of three months or less at the date of purchase. Cash and cash equivalents include those reverse repurchase agreements, where maturity is less than 90 days, and the credit risk of the counterparty is low, which are recorded at the amounts at which the securities were acquired plus accrued interest.
Securities reverse repurchase and repurchase agreements	Securities reverse repurchase and repurchase agreements A reverse repurchase agreement is a transaction in which the Company purchases financial instruments from a seller, typically in exchange for cash, and simultaneously enters into an agreement to resell the same or substantially the same financial instruments to the seller for an amount equal to the cash or other consideration exchanged plus interest at a future date. Securities purchased under reverse repurchase agreements are accounted for as collateralized financing transactions and are recorded at the contractual amount for which the securities will be resold, including accrued interest. Financial instruments purchased under reverse repurchase agreements are recorded in the financial statements as cash placed on deposit collateralized by securities and classified as cash and cash equivalents in the Consolidated Balance Sheets. A repurchase agreement is a transaction in which the Company sells financial instruments to another party, typically in exchange for cash, and simultaneously enters into an agreement to reacquire the same or substantially the same financial instruments from the buyer for an amount equal to the cash or other consideration exchanged plus interest at a future date. These agreements are accounted for as collateralized financing transactions. The Company retains the financial instruments sold under repurchase agreements and classifies them as trading securities in the Consolidated Balance Sheets. The consideration received under repurchase agreements is classified as securities repurchase agreement obligations in the Consolidated Balance Sheets.
Restricted cash	Restricted cashRestricted cash consists of cash equivalents that is held for specific reasons and not available for immediate use. They are generally comprised of certain investments with original maturities of more than three months. Mainly represented by customers' cash and guaranty deposits, which are restricted in use by the Company.
Available-for-sale securities	Available-for-sale securities Financial assets categorized as available-for-sale ("AFS") are non-derivatives that are either designated as available-for-sale or not classified as (a) loans and receivables, (b) held to maturity investments or (c) trading securities. Gains and losses arising from changes in fair value are recognized in other comprehensive income and accumulated in the Accumulated other comprehensive loss, with the exception of other-than-temporary impairment losses, interest calculated using the effective interest method, and foreign exchange gains and losses are recognized in the Consolidated Statements of Operations and Statements of Other Comprehensive Income. When the investment is disposed of or is determined to be impaired, the cumulative gain or loss previously accumulated in the accumulated other comprehensive (loss)/income is then reclassified to net realized gain/(loss) on investments available-for-sale in the Consolidated Statements of Operations and Statements of Other Comprehensive Income.
Trading securities	Trading securities Financial assets are classified as trading securities if the financial asset has been acquired principally for the purpose of selling it in the near term. Trading securities are stated at fair value, with any gains or losses arising on remeasurement recognized in revenue. Changes in fair value are recognized in the Consolidated Statements of Operations and Statements of Other Comprehensive Income and included in net gain on trading securities. Interest earned and dividend income are recognized in the Consolidated Statements of Operations and Statements of Other Comprehensive Income and included in interest income, according to the terms of the contract and when the right to receive the payment has been established. Investments in nonconsolidated managed funds are accounted for at fair value based on the net asset value of the funds provided by the fund managers with gains or losses included in net gain on trading securities in the Consolidated Statements of Operations and Statements of Other Comprehensive Income.
Debt securities issued	Debt securities issued Debt securities issued are initially recognized at the fair value of the consideration received, less directly attributable transaction costs. Subsequently, amounts due are stated at amortized cost and any difference between net proceeds and the redemption value is recognized over the period of the borrowings using the effective interest method. If the Company purchases its own debt it is removed from the Consolidated Balance Sheets and the difference between the carrying amount of the liability and the consideration paid is recognized in the Consolidated Statements of Operations and Statements of Other Comprehensive Income.
Margin lending, brokerage and other receivables	Margin lending, brokerage and other receivables The Company engages in securities financing transactions with and for clients through margin lending. In margin lending, the Company's customers borrow funds from the Company or sells securities the customer does not own against the value of their qualifying securities held in custody by the Company. Under these agreements, the Company is permitted to sell or repledge securities received as collateral. Furthermore, the contractual arrangements establish that the Company can use the pledged collateral by the customers for repurchase agreement operations, securities lending transactions or delivery to other counterparties to cover short positions. Margin lending, brokerage and other receivables comprise margin lending receivables, brokerage commissions and other receivables related to the securities brokerage and banking activity of the Company. At initial recognition, margin lending, brokerage and other receivables are recognized at fair value. Subsequently, margin lending, brokerage and other receivables are carried at cost net of any allowance for impairment losses. For both individual and institutional brokerage clients, we may enter into arrangements for securities financing transactions in respect of financial instruments held by us on behalf of the client or may use such financial instruments for our own account or the account of another client. We maintain omnibus brokerage accounts for certain institutional brokerage clients, in which transactions of the underlying clients of such institutional clients are combined in a single account with us. As noted above, we may use the assets within the omnibus accounts to finance, lend, provide credit or provide debt financing or otherwise use and direct the order or manner of assets for financing of other clients of ours. As of March 31, 2023, margin lending receivable balance from FST Belize was fully collateralized by its customer-owned cash and market securities held by the Company, including $37.1 million margin lending receivable collateralized by FRHC securities . Customers’ required margin levels and established credit limits are monitored continuously by risk management staff. Pursuant to the Company’s policy, customers are required to deposit additional collateral or reduce positions, when necessary, to avoid liquidation of their positions.
Derecognition of financial assets	Derecognition of financial assets A financial asset (or, where applicable a part of a financial asset or a part of a group of similar financial assets) is derecognized where all of the following conditions are met: • The transferred financial assets have been isolated from the Company - put presumptively beyond the reach of the Company and its creditors, even in bankruptcy or other receivership. • The transferee has rights to pledge or exchange financial assets. • The Company or its agents do not maintain effective control over the transferred financial assets or third-party beneficial interests related to those transferred assets. Where the Company has not met the asset derecognition conditions above, it continues to recognize the asset to the extent of its continuing involvement.
Impairment of long-lived assets	Impairment of long-lived assets In accordance with the accounting guidance for the impairment or disposal of long-lived assets, the Company periodically evaluates the carrying value of long-lived assets to be held and used when events and circumstances warrant such a review. The carrying value of a long-lived asset is considered impaired when the fair value from such asset is less than its carrying value. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair value of the long-lived asset. Fair value is determined primarily using the anticipated cash flows discounted at a rate commensurate with the risk involved. Losses on long-lived assets to be disposed of are determined in a similar manner, except that fair values are reduced for the cost of disposal. During the fiscal year ended March 31, 2022, 2022, and 2021 the Company had not recorded
Impairment of goodwill	Impairment of goodwill Goodwill is allocated to reporting units, which are identified as the operating segments or one level below operating segments that generate separate financial information regularly reviewed by management. The assignment of goodwill to reporting units allows for the assessment of potential impairment at the appropriate level within the organization. The Company has identified its reporting units based on its organizational and operational structure, as well as the level at which internal financial information is reviewed by management to make strategic decisions. In line with this, the reporting units have been established as follows: Central Asia and Eastern Europe Reporting Unit: This reporting unit represents the Company's operations in Central Asia, which encompasses countries such as Kazakhstan, Uzbekistan, Kyrgyzstan and Ukraine. The management team responsible for the Central Asia and Eastern Europe region regularly reviews financial information specific to this reporting unit, including revenue, expenses, and key performance indicators. Europe excluding Eastern Europe Reporting Unit: This reporting unit comprises the Company's operations in various European countries, such as Cyprus, Germany and United Kingdom. The management team responsible for the Europe region reviews financial information related to this reporting unit, including revenue, expenses, and market trends. US Reporting Unit: This reporting unit comprises the Company's operations in USA. The management team responsible for the US region reviews financial information related to this reporting unit, including revenue, expenses, and market trends. Middle East/Caucasus Unit: This reporting unit comprises the Company's operations in Middle East/Causcasus. This reporting unit represents the Company's operations in Middle East/Caucasus, which encompasses countries such as Armenia, Azerbaijan, UAE and Turkiye. The management team responsible for the Middle East/Causcasus region reviews financial information related to this reporting unit, including revenue, expenses, and market trends. Goodwill has been allocated to each reporting unit based on its relative fair value at the time of acquisition or significant triggering events. The fair value allocation of goodwill to reporting units is periodically reassessed to ensure alignment with the Company's evolving organizational structure and operational dynamics. The Company conducts impairment testing on an annual basis or whenever indicators of potential impairment arise. The impairment testing involves comparing the carrying amount of each reporting unit, including its allocated goodwill, to its fair value. If the carrying amount exceeds the fair value, an impairment loss is recognized. Further details regarding the measurement of goodwill impairment and the results of impairment tests for each reporting unit are provided below. The Company discloses information about the reporting units, the carrying amounts of goodwill allocated to each reporting unit, and the impairment losses recognized. The allocation of goodwill to reporting units ensures a focused evaluation of each unit's financial performance and facilitates the identification of potential impairment, enhancing the transparency and reliability of our financial reporting. As of March 31, 2023 and 2022, goodwill recorded in the Company's Consolidated Balance Sheets totaled $14,192 and $5,898 respectively. The Company performs an impairment review at least annually unless indicators of impairment exist in interim periods. The Company compares the fair value of a reporting unit with its carrying amount. The goodwill impairment charge is recognized for the amount by which the reporting unit’s carrying amount exceeds its fair value, limited to the total amount of goodwill allocated to that reporting unit. If fair value exceeds the carrying amount, no impairment is recorded. During the year ended March 31, 2023, the Company did not recognize an impairment loss related to goodwill. During the year ended March 31, 2022, the conflict between Russia and Ukraine escalated, and military operations began on the territory of Ukraine. The conflict resulted in sanctions being imposed on Russia. As a result of this conflict, the Company's subsidiaries operating in Russia and Ukraine, including Freedom Bank RU, Freedom UA, and Zerich, incurred significant losses. In its annual goodwill impairment test for the year ended March 31, 2022, the Company estimated the fair value of the reporting unit based on the income approach (also known as the discounted cash flow method) and determined the fair value of the Company’s goodwill previously recognized for Freedom Bank RU, Freedom UA and Zerich was below the carrying amount of the Company’s goodwill. As a result, as of March 31, 2022, the Company recognized impairment loss for the goodwill previously recognized for Freedom Bank RU, Freedom UA and Zerich in the amount of $2,300 through Other (income)/expense, net as presented on the Consolidated Statements of Operations and Statements of Other Comprehensive Income, and presented goodwill, net of impairment loss in the Company's Consolidated Balance Sheets. The current uncertainty surrounding the conflict between Russia and Ukraine makes it difficult to perform reasonable projections of future income and expenses of the Ukrainian subsidiary. The goodwill value at March 31, 2023 increased compared to March 31, 2022, due to acquisition of London Almaty, Ticketon, LD Micro and Paybox and as a result of foreign exchange currency translation.
Asset and Liabilities Held for Sale	Asset and Liabilities Held for Sale The Company classifies assets and liabilities ("the disposal group") as held for sale in the period when all of the relevant criteria to be classified as held for sale are met. Criteria include management commitment to divest the disposal group in its present condition and the divestiture being deemed probable of being completed within one year. Assets held for sale are reported at the lower of their carrying value or fair value less cost to divest. Any loss resulting from the measurement is recognized in the period the held for sale criteria are met. The Company assesses the fair value of a disposal group, less any costs to divest, each reporting period it remains classified as held for sale and reports any subsequent changes as an adjustment to the carrying value of the disposal group, as long as the new carrying value does not exceed the initial carrying value of the disposal group. Assets held for sale are not amortized or depreciated. During the year ended March 31, 2023, the Company incurred loss from divestiture of the disposal group in the amount of $26,118, and recognized it within the line item Net income from discontinued operation on the Consolidated Statements of Operations and Statements of Other Comprehensive Income. A disposal group that represents a strategic shift to the Company or is acquired with the intention to divest is reflected as a discontinued operation on the Consolidated Statements of Operation and Statements of Other Comprehensive Income. The Consolidated Financial Statements and related Notes reflect the securities brokerage and complementary banking operations in Russia as discontinued operations as the Company entered into an agreement to divest these operations. The divestiture of these operations was approved by the Central Bank of the Russian Federation on February 10, 2023, and the divestiture was completed on February 28, 2023. See Note 30 " Assets and Liabilities held for sale " in the notes to our consolidated financial statements contained in Part II Item 8 of this annual report, for more information on assets held for sale and discontinued operations.
Income taxes	Income taxes The Company recognizes deferred tax liabilities and assets based on the difference between the financial statements and tax basis of assets and liabilities using the enacted tax rates in effect for the year in which the differences are expected to reverse. The measurement of deferred tax assets is reduced, if necessary, by the amount of any tax benefits that, based on available evidence, are not expected to be realized. Current income tax expenses are provided for in accordance with the laws of the relevant taxing authorities. As part of the process of preparing financial statements, the Company is required to estimate its income taxes in each of the jurisdictions in which it operates. The Company accounts for income taxes using the asset and liability approach. Under this method, deferred income taxes are recognized for tax consequences in future years based on differences between the tax bases of assets and liabilities and their reported amounts in the financial statements at each year-end and tax loss carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates applicable for the differences that are expected to affect taxable income. The Company records uncertain tax positions in accordance with ASC 740 on the basis of a two-step process in which (1) the Company determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, the Company recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company will include interest and fines arising from the underpayment of income taxes in the provision for income taxes (if anticipated). As of March 31, 2023 and 2022, the Company had no accrued interest or fines related to uncertain tax positions. The Global Intangible Low-Taxed Income ("GILTI") provisions of the Tax Cuts and Jobs Act require the Company to include in its U.S. income tax return foreign subsidiary earnings in excess of an allowable return on the foreign subsidiary's tangible assets. The Company has presented the deferred tax impacts of GILTI tax in its consolidated financial statements as of March 31, 2023 and 2022.
Financial instruments	Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either in the principal market for the asset or liability, or in the absence of a principal market, in the most advantageous market for the asset or liability. Fair value is the current bid price for financial assets, current ask price for financial liabilities and the average of current bid and ask prices when the Company is both in short and long positions for the financial instrument. A financial instrument is regarded as quoted in an active market if quoted prices are readily and regularly available from an exchange or other institution and those prices represent actual and regularly occurring market transactions on an arm's length basis.
Leases	Leases The Company follows ASU No. 2016-02, "Leases (Topic 842)," upon adoption of ASC 842, the Company elected not to recognize leases with terms of one-year or less on the balance sheet. Operating lease assets and corresponding lease liabilities were recognized on the Company's Consolidated Balance Sheets. Refer to Note 28 " Leases ", in the notes to our consolidated financial statements in Part II Item 8 of this annual report for additional disclosure and significant accounting policies affecting leases.
Fixed assets	Fixed assets Fixed assets are carried at cost, net of accumulated depreciation. Maintenance, repairs, and minor renewals are expensed as incurred. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which range between three
Insurance and reinsurance receivable	Insurance and reinsurance receivable Insurance and reinsurance receivable is recognized when related income is earned and measured on initial recognition at the fair value of the consideration receivable. Subsequent to initial recognition, any insurance and reinsurance receivable is measured at cost net of any allowance for impairment losses. Deferred acquisition costs Deferred acquisition costs are commissions, premium taxes, and other incremental direct costs of contract acquisition that results directly from and are essential to the contract transaction(s) and would not have been incurred by the Company had the contract transaction(s) not occurred. The deferred amounts are recorded as an asset on the balance sheet and amortized to expense in a systematic manner. Traditional life insurance and long-duration health insurance deferred policy acquisition costs are amortized over the estimated premium-paying period of the related policies using assumptions consistent with those used in computing the related liability for policy benefit reserves. Deferred acquisition costs for property and casualty insurance and short-duration health insurance are amortized over the effective period of the related insurance policies. Deferred policy acquisition costs are expensed when such costs are deemed not to be recoverable from future premiums (for traditional life and long-duration health insurance) and from the related unearned premiums and investment income (for property and casualty and short-duration health insurance). Assessments of recoverability for property and casualty
Insurance and reinsurance payable	Insurance and reinsurance payable Payables on insurance business comprise advances received, amounts payable to insured (claims and premium refund payable) and amounts payable to agents and brokers, and advances received from insurers and reinsurers. Payables on reinsurance business comprise net amounts payable to reinsurers. Amounts payable to reinsurers include ceded reinsurance premiums, assumed premium refunds and claims on assumed reinsurance. Insurance and reinsurance payable are accounted for at amortized cost.
Unearned premium reserve and claims	Unearned premium reserve and claims Unearned premium is determined by the method of proportion for each contract, as the product of the insurance premium under the contract for the ratio of the expiration of the insurance cover (in days) to the balance sheet date (in days) from the date of recognition of the insurance premium in accounting as income until the end of the insurance coverage. The reinsurer's share in the unearned premium reserve is calculated separately for each insurance (reinsurance) contract and is determined as the ratio of the insurance premium under the reinsurance contract to the insurance premium under the insurance contract multiplied by the unearned premium reserve. Results of insurance activity includes net written insurance premiums reduced by the net change in the unearned premium reserve, commissions recognized from assumed insurance and reinsurance contracts, claims paid net and net change in the loss reserves. Net written insurance premiums represent gross written premiums less premiums ceded to reinsurers. Upon inception of a contract (except for classes of life and annuity insurance), premiums are recorded as written and are earned on a pro rata basis over the term of the related contract coverage. The unearned premium reserve represents the portion of the premiums written relating to the unexpired terms of coverage and is included in the accompanying statement of Consolidated Balance Sheets. Unearned premium reserve relates to non-life insurance products and non-annuity insurance products. Claims and other insurance expenses are expensed to th e Consolidated Statements of Operations and Statements of Other Comprehensive Income as incurred. Loss reserves Premium Deficiency Reserve Premium deficiency reserve is a liability balance based on actuarial estimates for anticipated losses on value-based-care contracts reassessed by management when it becomes probable that future losses will be incurred. The reserve balance is the sum of expected future costs, claims adjustment expenses, and maintenance costs that exceed future premiums under contracts excluding consideration from investment income. Losses or gains from these reassessments are recorded in the period in which such losses were identified and reflected within the Consolidated Statement of Operations and Other Comprehensive Loss. If a premium deficiency occur, future changes in the liability is based on the revised assumptions. No loss is reported if it results in creating future income. The liability for future policy benefits using revised assumptions based on actual and anticipated experience is estimated periodically for comparison with the liability for future policy benefits (reduced by unamortized acquisition costs) at the valuation date. Premium deficiency reserves are amortized over the period in which loses are expected to be incurred and expected to have an offsetting impact on operating losses in that period. Premium deficiency reserve process is applicable for both life and non-life insurance policies. Use of Estimates in Premium Deficiency Reserves. Our Premium deficiency reserve may fluctuate from period to period as a percentage of total revenue and value-based care revenue. This is due to the significant uncertainty and varying nature of key inputs into the measurement of the reserves, driving the income or expense in the period. These key inputs include the contractual rates within value-based care contracts, forecasted benefit and member population changes, contractual periods, risk adjustments and claims costs forecasts associated with our member populations and allocation of operating costs to these contracts. Non-life and general insurance Loss reserves are a summary of estimates of ultimate losses, and include both claims reported but not settled (RBNS) and claims incurred but not reported (IBNR). RBNS is created for existing reported claims not settled at the reporting date. Estimates are made on the basis of information received by the Company during its investigation of insured events. IBNR is estimated by the Company based on its previous history of reported/settled claims using actuarial methods of calculation, which include claim development triangles. Reinsurance assets in IBNR are estimated applying the same actuarial method used in IBNR estimation. Life insurance Not incurred claims reserves (NIC) on life insurance contracts equal the NIC amount for all life insurance contracts valid as at the reporting date. NIC reserve on a separate contract of life insurance is equal to the maximum value of the net level premium reserve and gross-premium reserve. Net level premium reserve is the present value of future benefits (excluding survival benefits) less present value of future net premiums. Gross-premium reserve is present value of benefits, expenses of the Company that are directly related to consideration, settlement, and determination of the benefit amount, operating expenses of the Company related to conducting of the business, less present value of future gross-premiums. The Company excludes terminations of the contracts from the statistics which is then used for NIC reserves, given the inclusion of terminations will result lower level of NIC reserves which may not be sufficient. Annuity insurance NIC reserve on annuity contracts is the sum of the present value of future benefits, the claims for annuity insurance and administrative expenses on annuity insurance contracts maintenance, less the present value of insurance contributions (in case of lump sum - insurance premium), which the Company is due to receive after the settlement date. The reserves are either based on current assumptions or calculated using the assumptions established at the time the contract was issued, in which case a margin for risk and adverse deviation is generally included.
Segment information	Segment information The Company used management approaches to identify its reportable segments, as required by ASC 280. The management approach is based on the way the Company's management organizes and evaluates its operations, and based on the way the Company's operations are managed and reported in its internal financial reporting system. The company identified the following segments: 1. Central Asia and Eastern Europe 2. Europe, excluding Eastern Europe 3. U.S. 4. Middle east/Caucasus The Company evaluated whether its segments met the quantitative thresholds to be reportable separately. The quantitative thresholds require that a segment's revenue is 10% or more of the combined revenue of all segments, or its absolute profit or loss is 10% or more of the greater of the combined absolute profit of all segments that have a positive profit or the combined absolute loss of all segments that have a loss. The Company's Central Asia and Eastern Europe and Europe segments were identified under the quantitative thresholds. Under the management approach, the Company identified its US and Middle East/Caucasus region as its reportable segments as they are managed separately from other regions. Both regions are led by a separate management team that are responsible for its operations, and its performance is regularly reviewed by the CODM. The Company determined that its US and Middle East/Caucasus regions met the qualitative threshold of being managed separately and did not need to rely on the quantitative thresholds. Factors Used in Determining Reportable Segments The Company considered several factors when determining its reportable segments. These factors include similarities and differences among its products, services, and geographical locations, economic factors, and internal reporting. The Company considered the similarities and differences among its products, services, and geographical locations to determine whether they should be aggregated or reported separately. Each region was determined to be sufficiently different from other regions and therefore should be reported separately. The Company also considered the economic factors that affect its operating segments, such as the regulatory environment, competitive landscape, and market conditions, to determine whether they should be reported separately. Reportable regions were determined to have unique economic factors that warranted separate reporting. The information that is regularly reviewed by the CODM, including but not limited to the revenue, profit or loss, and assets, was also considered by the Company when determining its reportable segments. Each reportable segment was determined to be regularly reviewed by the CODM and therefore should be reported separately.
Advertising expense	Advertising expense For the years ended March 31 2023, 2022 and 2021 the Company had expenses related to advertising in the amount of $14,059, $11,916 and $6,971 respectively. All costs associated with advertising are expensed in the period incurred.
Recent accounting pronouncements	Recent accounting pronouncements In June 2016 the FASB issued Accounting Standards Update No. 2016-13, "Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments", which introduced an expected credit loss methodology for the impairment of financial assets measured at amortized cost basis. That methodology replaces the probable, incurred loss model for those assets. In November 2019, the FASB issued ASU 2019-10 "Financial Instruments-Credit Losses (Topic 326). The Board developed a philosophy to extend and simplify how effective dates are staggered between larger public companies (bucket one) and all other entities (bucket two). Those other entities include private companies, smaller public companies, not-for-profit organizations, and employee benefit plans. Under this philosophy, a major update would first be effective for bucket-one entities, that is, public business entities that are SEC filers, excluding entities eligible to be smaller reporting companies (SRCs) under the SEC's definition. The Master Glossary of the Codification defines public business entities and SEC filers. All other entities, including SRCs, other public business entities, and nonpublic business entities (private companies, not-for-profit organizations, and employee benefit plans) would compose bucket two. For those entities, the Board considered requiring an effective date staggered at least two years after bucket one for major updates. When ASU 2019-10 was issued, it provided SRCs with the option to defer the implementation of the standard. As the Company qualified as an SRC at the time of the standard's release, we chose not to adopt the update on January 1, 2020. The Company from March 31, 2022 has grown and become as a Larger Public Company and according to ASU 2019-10, qualifies for bucket one. Accordingly, ASU 2016-13 is effective for fiscal years beginning after December 15, 2022. The Company evaluated the impact that ASU 2016-13 will have on its consolidated financial statements and related disclosures. The Company is going to adopt ASC 326 using the modified retrospective transition approach for its financial assets. The Company analyzed all financial assets and expect the significant effect only for its loans issued. We expect the effect to be an adjustment to the allowance for credit losses for loans issued of approximately USD10 million upon adoption of ASU 2016-13 as of April 1, 2023. The Company does not expect a significant impact from the transition to this standard on other financial assets at amortized costs. As a result, the Company will adopt Topic 326 starting from April 1, 2023. In November 2019, the FASB issued ASU 2019-10 "Financial Instruments-Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842)". In August 2021 the FASB issued Accounting Standard Update No 2021-06 "Presentation of Financial Statements (Topic 205), Financial Services — Depository and Lending (Topic 942), and Financial Services — Investment Companies (Topic 946)" which amends various SEC paragraphs pursuant to the issuance of SEC Release No. 33-10786, Amendments to Financial Disclosures about Acquired and Disposed Businesses. SEC issued Final Rulemaking Release No. 33-10786, Amendments to Financial Disclosures about Acquired and Disposed Businesses, which modified the disclosure and presentation requirements concerning acquisitions and disposals of businesses. Primarily, the new rules amended (1) Rule 1-02(w) of Regulation S-X, Definition of Terms Used in Regulation S-X, Significant Subsidiary, (2) Rule 3-05 of Regulation S-X, Financial Statements of Businesses Acquired or to Be Acquired, (3) Rule 8-05 of Regulation S-X, Pro Forma Financial Information (which covers smaller reporting companies), and (4) Article 11 of Regulation S-X, Pro Forma Financial Information. In addition, new Rule 6-11 of Regulation S-X, Financial Statements of Funds Acquired or to Be Acquired, covering acquisitions specific to investment companies, was added. Corresponding changes were made to other Regulation S-X rules, various Securities Act and Securities Exchange Act rules, and Forms 8-K and 10-K. Compliance with the amended rules is required from the beginning of a registrant's fiscal year commencing after December 31, 2020 (i.e., the mandatory compliance date). Acquisitions and dispositions that are probable or consummated after the mandatory compliance date are required to be evaluated for significance pursuant to the amended rules. Early compliance is permitted, provided that all the amended rules are applied in their entirety from the early compliance date. ASU No. 2021-06 amends SEC material in the Codification to give effect to Release No. 33-10786. The new rules apply to fiscal years ending on or after December 15, 2021 (i.e., calendar-year 2021). Early voluntary compliance is allowed. Note that the rescission of Industry Guide 3 is effective on January 1, 2023. ASU No. 2021-06 amends SEC material in the Codification to give effect to Release No. 33-10835. The Company does not expect the impact that ASU 2021-06 will have a significant impact on its consolidated financial statements and related disclosures. In October 2021, The SEC issued the amendment of Business Combinations (Topic 805), No. 2021-08, which related to Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The main amendments were concentrated in paragraphs 805-20-25-16 through 25-17 and add paragraph 805-20-25-28C and its related heading, with a link to transition paragraph 805-20-65-3, where the topic provides limited exceptions to the recognition and measurement principles applicable to business combinations. Moreover, the topic amends paragraphs 805-20-30-10 through 30-12 and add paragraphs 805-20-30-27 through 30-30 and their related heading, with a link to transition paragraph 805-20-65-3. Paragraph 805-20-25-16 notes that the Business Combinations Topic provides limited exceptions to the recognition and measurement principles applicable to business combinations. In the topic has been added paragraph 805-20-65-3, in which the following represents the transition and effective date information related to Accounting Standards Update No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. For public business entities, the pending content that links to this paragraph shall be effective for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2022. The Company does not expect that ASU 2021-08 will have an impact on the Company's consolidated financial statements and related disclosures. In March 2022 the FASB issued Accounting Standards Update No. 2022-01, "Derivatives and Hedging (Topic 815): Fair Value Hedging-Portfolio Layer Method", which introduces the amendments, which targeted on improvements to the optional hedge accounting model with the objective of improving hedge accounting to better portray the economic results of an entity's risk management activities in its financial statements. The amendments in this Update apply to the Company that elect to apply the portfolio layer method of hedge accounting in accordance with Table of Contents Topic 815. For a closed portfolio of prepayable financial assets or one or more beneficial interests secured by a portfolio of prepayable financial instruments, the last-of-layer method allows an entity to hedge a stated amount of the asset or assets in the closed portfolio that is anticipated to be outstanding for the designated hedge period. If the requirements for the last-of-layer method are met, prepayment risk is not incorporated into the measurement of the hedged item. Accordingly, ASU 2022-01 is effective for fiscal years beginning after December 15, 2022. The Company does not expect that ASU 2022-01 will have an impact on the Company's consolidated financial statements and related disclosures. In March 2022 the FASB issued Accounting Standards Update No. 2022-02, "Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures", which introduces the amendments on solving two issues of creditors related to troubled debt restructurings and gross writeoffs of vintage debt disclosures. The amendments in Update 2016-13 require that an entity measure and record the lifetime expected credit losses on an asset that is within the scope of the Update upon origination or acquisition, and, as a result, credit losses from loans modified as troubled debt restructurings (TDRs) have been incorporated into the allowance for credit losses. Investors and preparers observed that the additional designation of a loan modification as a TDR and the related accounting are unnecessarily complex and no longer provide decision-useful information. Moreover, Investors and other financial statement users observed that disclosing gross writeoffs by year of origination provides important information that allows them to better understand changes in the credit quality of an entity's loan portfolio and underwriting performance. Accordingly, ASU 2022-02 is effective for fiscal years beginning after December 15, 2022. The Company is currently evaluating the impact that ASU 2022-02 will have on its consolidated financial statements and related disclosures. In June 2022, FASB Issued Accounting Standard Updated No. 2022-03 “Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions”. The FASB has issued this standard to (1) clarify the guidance in Topic 820 – Fair Value Measurement, when measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of an equity security, (2) to amend a related illustrative example, and (3) to introduce new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value in accordance with Topic 820. The amendments in this update affects all entities that have investments in equity securities measured at fair value that are subject to a contractual sale restriction. For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. The Company is currently evaluating the impact that ASU 2022-03 will have on its consolidated financial statements and related disclosures. In September 2022, the FASB issued Accounting Standards Update No. 2022-04 “Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations” to enhance the transparency of supplier finance programs. This requires all entities, which apply those programs in connection with the purchase of goods and services (buyer party), to disclose qualitative and quantitative information about the use of the finance programs to understand the program’s nature, activity during the period, changes from period to period, and potential magnitude. Accordingly, ASU 2022-04 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the amendment on rollforward information, which is effective for fiscal years beginning after December 15, 2023. The Company is currently evaluating the impact that ASU 2022-04 will have on its consolidated financial statements and related disclosures. In December 2022, FASB Issued Accounting Standard Updated No. 2022-05 “Financial Services—Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts (LDTI)”. The amendments in Update 2018-12 require that an insurance entity apply a retrospective transition method as of the beginning of the earliest period presented or the beginning of the prior fiscal year if early application is elected. It amends in this Update the LDTI transition guidance to allow an insurance entity to make an accounting policy election on a transaction-by-transaction basis. The Board is issuing this Update to reduce implementation costs and complexity associated with the adoption of LDTI for contracts that have been derecognized in accordance with the amendments in this Update before the LDTI effective date. Without the amendments an insurance entity would be required to reclassify a portion of the previously recognized gains or losses to the LDTI transition adjustment because of the adoption of a new accounting standard. This Update affects insurance entities that have derecognized contracts before the LDTI effective date. For public business entities that meet the definition of a U.S. Securities and Exchange Commission (SEC) filer and are not smaller reporting companies, LDTI is effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. Early application is permitted. The Company is currently evaluating the impact that ASU 2022-05 will have on its consolidated financial statements and related disclosures. In December 2022, the FASB issued Accounting Standards Update No. 2022-06 “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting”, which provides optional guidance to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The objective of the guidance in Topic 848 is to provide temporary relief during the transition period. The Board included a sunset provision within Topic 848 based on expectations of when the London Interbank Offered Rate (LIBOR) would cease being published. At the time that Update 2020-04 was issued, the UK Financial Conduct Authority (FCA) had established its intent that it would no longer be necessary to persuade, or compel, banks to submit to LIBOR after December 31, 2021. As a result, the sunset provision was set for December 31, 2022—12 months after the expected cessation date of all currencies and tenors of LIBOR. The amendments in this Update apply to all entities, subject to meeting certain criteria, that have contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The amendments in this Update are effective for all entities upon issuance of this Update. The Company has evaluated that the Update No. 2022-06 did not have an impact on its consolidated financial statements and related disclosures. In March 2023, FASB Issued Accounting Standard Updated No. 2023-01 “Lease (Topic 842)”. Topic 842 requires that entities determine whether a related party arrangement between entities under common control (hereinafter referred to as a common control arrangement) is a lease. If the arrangement is determined to be a lease, an entity must classify and account for the lease on the same basis as an arrangement with an unrelated party (on the basis of legally enforceable terms and conditions).That represents a change from the requirements of Topic 840, Leases, which required that an entity classify and account for an arrangement on the basis of economic substance when those terms and conditions were affected by the related party nature of the arrangement. The amendments in this Update affect all lessees that are a party to a lease between entities under common control in which there are leasehold improvements. The amendments apply to all entities (that is, public business entities, private companies, not-for-profit entities, and employee benefit plans). The amendments in this Update for both Issue 1 and Issue 2 are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted for all entities in any interim period. If an entity adopts the amendments in an interim period, it shall adopt them as of the beginning of the fiscal year that includes that interim period. The Company considers that ASU No. 2023-01 did not have an impact on its consolidated financial statements and related disclosures. In March 2023, the FASB issued Accounting Standards Update No. 2023-02 “Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects”, which amended Subtopic 323-740, Investments—Equity Method and Joint Ventures—Income Taxes, introduced the option to apply the proportional amortization method to account for investments made primarily for the purpose of receiving income tax credits and other

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Schedule of Variable Interest Entities	The carrying amounts of the VIE’s consolidated assets and liabilities are as follows: March 31, 2023 March 31, 2022 Cash and cash equivalents 26 134 Restricted cash 1,936 2,843 Trading securities 4,010 2,942 Margin lending, brokerage and other receivables, net 1,616 435 Fixed assets, net 782 1,043 Intangible assets, net 131 205 Right-of-use asset 135 905 Other assets 56 127 Total assets $ 8,692 8,634 Customer liabilities 5,837 8,439 Securities repurchase agreement obligations 12 3,267 Trade payables 25 35 Lease liability 159 914 Other liabilities 298 434 Total liabilities $ 6,331 13,089
Schedule of changes in the carrying amount of goodwill	The changes in the carrying amount of goodwill for the years ended March 31, 2023 and March 31, 2022, were as follows: Central Asia and Eastern Europe Europe, excluding Eastern Europe US Held for Sale Middle East/ Caucasus Total Goodwill, gross Balance as of March 31, 2021 (Recasted) $ 5,261 $ — $ 1,626 $ 810 $ — $ 7,697 Foreign currency translation (157) — — 658 — 501 Acquired — — — — — — Balance as of March 31, 2022 (Recasted) 5,104 $ — $ 1,626 $ 1,468 $ — $ 8,198 Foreign currency translation (74) — — — — (74) Acquired 2,594 — 5,774 — — 8,368 Balance as of March 31, 2023 7,624 $ — $ 7,400 $ 1,468 $ — $ 16,492 Accumulated impairment Balance as of March 31, 2021 $ — $ — $ — $ — $ — $ — Impairment expense 832 — — 1,468 — 2,300 Balance as of March 31, 2022 $ 832 $ — $ — $ 1,468 $ — $ 2,300 Impairment expense — — — — — — Balance as of March 31, 2023 $ 832 $ — $ — $ 1,468 $ — $ 2,300 Goodwill, net of impairment Balance as of March 31, 2021 $ 5,261 $ — $ 1,626 $ 810 $ — $ 7,697 Balance as of March 31, 2022 $ 4,272 $ — $ 1,626 $ — $ — $ 5,898 Balance as of March 31, 2023 $ 6,792 $ — $ 7,400 $ — $ — $ 14,192

RECAST (Tables)

RECAST (Tables)	12 Months Ended
	Mar. 31, 2023
Accounting Changes and Error Corrections [Abstract]
Revision of prior period statements	The previously issued Consolidated Balance Sheet as of March 31, 2022, and Consolidated Statements of Operations and Statements of Other Comprehensive Income for the year ended March 31, 2022 and March 31, 2021, have been revised as follows: As of March 31, 2022 As previously reported FF Life acquisition Elimi-nations FF Insurance acquisition Elimi-nations As recasted ASSETS Cash and cash equivalents $ 224,663 $ 1,429 $ (917) $ 371 $ (82) $ 225,464 Restricted cash 547,950 — — — — 547,950 Trading securities 1,080,982 8,875 — 68,520 — 1,158,377 Available-for-sale securities, at fair value 1 161,363 — — — 161,364 Margin lending, brokerage and other receivables, net 147,480 172 (34) 61 (20) 147,659 Loans issued 92,403 43 — — — 92,446 Fixed assets, net 17,387 182 — 254 — 17,823 Intangible assets, net 3,512 1,490 — 161 — 5,163 Goodwill 5,388 359 — 151 — 5,898 Right-of-use asset 6,747 532 — 152 — 7,431 Insurance contract assets — 3,555 — 2,157 — 5,712 Other assets, net 19,351 9,863 — 427 — 29,641 Assets held for sale 825,419 — — — — 825,419 TOTAL ASSETS $ 2,971,283 $ 187,863 $ (951) $ 72,254 $ (102) $ 3,230,347 LIABILITIES AND SHAREHOLDERS’ EQUITY Securities repurchase agreement obligations $ 742,710 $ 47,690 $ — $ 49,824 $ — $ 840,224 Customer liabilities 766,627 — (917) — (82) 765,628 Margin lending and trade payables 45,082 — — 21 (20) 45,083 Liabilities from insurance activity — 108,925 — 13,162 — 122,087 Current income tax liability 14,556 — — — — 14,556 Securities sold, not yet purchased – at fair value 13,865 — — — — 13,865 Debt securities issued 34,390 — — — — 34,390 Lease liability 6,785 543 — 176 — 7,504 Liability arising from continuing involvement 6,447 — — — — 6,447 Other liabilities 20,668 551 (34) 292 — 21,477 Liabilities held for sale 812,478 — — — — 812,478 TOTAL LIABILITIES $ 2,463,608 $ 157,709 $ (951) $ 63,475 $ (102) $ 2,683,739 Commitments and Contingent Liabilities (Note 31) — — — — — — SHAREHOLDERS’ EQUITY Preferred stock - $0.001 par value; 20,000,000 shares authorized, no shares issued or outstanding — — — — — — Common stock - $0.001 par value; 500,000,000 shares authorized; 59,542,212 shares issued and outstanding as of March 31, 2022 59 9,465 (9,464) 15,576 (15,577) 59 Additional paid in capital 141,340 — 16,498 — 16,907 174,745 Retained earnings 426,563 28,132 (6,665) (4,812) (1,294) 441,924 Accumulated other comprehensive loss (53,291) (7,444) (369) (1,985) (36) (63,125) TOTAL FRHC SHAREHOLDERS’ EQUITY $ 514,671 $ 30,153 $ — $ 8,779 $ — $ 553,603 Non-controlling interest (6,996) 1 — — — (6,995) TOTAL SHAREHOLDERS’ EQUITY $ 507,675 $ 30,154 $ — $ 8,779 $ — $ 546,608 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 2,971,283 $ 187,863 $ (951) $ 72,254 $ (102) $ 3,230,347 Year ended March 31, 2022 As previously reported FF Life acquisition Elimi-nations FF Insurance acquisition Elimi-nations As recasted Revenue: Fee and commission income $ 335,444 $ — $ — $ 83 $ (316) $ 335,211 Net gain/(loss) on trading securities 156,345 (1,283) — 190 — 155,252 Interest income 90,153 23,027 — 8,429 — 121,609 Insurance underwriting income — 60,526 — 12,455 — 72,981 Net gain on foreign exchange operations 1,979 1,615 — 197 — 3,791 Net gain on derivatives 946 — — — — 946 TOTAL REVENUE, NET 584,867 83,885 — 21,354 (316) 689,790 Expense: Fee and commission expense 73,243 12,289 — 693 (316) 85,909 Interest expense 65,449 5,194 — 6,304 — 76,947 Insurance claims incurred, net of reinsurance — 42,606 — 11,841 — 54,447 Payroll and bonuses 39,779 3,624 — 2,885 — 46,288 Professional services 12,123 106 — 453 — 12,682 Stock compensation expense 7,859 — — — — 7,859 Advertising expense 10,059 — — 1,857 — 11,916 General and administrative expense 18,744 3,516 — 1,273 — 23,533 Provision for impairment losses 2,206 — — 296 — 2,502 Other expense/(income), net 1,312 2,708 — (6) — 4,014 TOTAL EXPENSE 230,774 70,043 — 25,596 (316) 326,097 NET INCOME/(LOSS) BEFORE INCOME TAX 354,093 13,842 — (4,242) — 363,693 Income tax (expense)/benefit (38,529) (54) — 13 — (38,570) INCOME/(LOSS) FROM CONTINUING OPERATIONS 315,564 13,788 — (4,229) — 325,123 Loss before income tax (expense)/benefit of discontinued operations (117,199) — — — — (117,199) Income tax benefit of discontinued operations 13,004 — — — — 13,004 Loss from discontinued operations (104,195) — — — — (104,195) NET INCOME/(LOSS) $ 211,369 $ 13,788 $ — $ (4,229) $ — $ 220,928 Less: Net loss attributable to non-controlling interest in subsidiary (6,566) — — — — (6,566) NET INCOME/(LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 217,935 $ 13,788 $ — $ (4,229) $ — $ 227,494 OTHER COMPREHENSIVE INCOME Change in unrealized gain on investments available-for-sale, net of tax effect — (4,292) — — — (4,292) Reclassification adjustment for net realized gain on available-for-sale investments disposed of in the period, net of tax effect — 2,222 — — — 2,222 Foreign currency translation adjustments (17,245) (2,014) — (1,363) — (20,622) OTHER COMPREHENSIVE (LOSS)/INCOME (17,245) (4,084) — (1,363) — (22,692) COMPREHENSIVE INCOME/(LOSS) BEFORE NON-CONTROLLING INTERESTS $ 194,124 $ 9,704 $ — $ (5,592) $ — $ 198,236 Less: Comprehensive loss attributable to non-controlling interest in subsidiary (6,566) — — — — (6,566) COMPREHENSIVE INCOME/(LOSS) ATTRIBUTABLE TO CONTROLLING INTEREST $ 200,690 $ 9,704 $ — $ (5,592) $ — $ 204,802 For the year ended March 31, 2022, the Company’s EPS as reported was 5.43 for both basic and diluted EPS for continuing operations, (1.75) for both basic and diluted EPS for discontinued operations, and 3.67 for both basic and diluted total EPS. Due to the items noted above, the Company’s EPS has been recast to 5.59 for both basic and diluted EPS for continuing operations, to (1.75) for both basic and diluted EPS for discontinued operations, and to 3.84 for both basic and diluted total EPS. Year ended March 31, 2021 As previously reported FF Life acquisition Elimi-nations FF Insurance acquisition Elimi-nations As recasted Revenue: Fee and commission income $ 215,996 $ — $ — $ 188 $ (176) $ 216,008 Net gain on trading securities 25,911 966 — 1,930 — 28,807 Interest income 22,815 11,818 — 3,841 — 38,474 Insurance underwriting income — 54,412 — 8,539 — 62,951 Net gain/(loss) on foreign exchange operations 1,143 (443) — (143) — 557 Net gain on derivatives 86 — — — — 86 TOTAL REVENUE, NET 265,951 66,753 — 14,355 (176) 346,883 Expense: Fee and commission expense 65,978 4,383 — 352 (176) 70,537 Interest expense 18,606 1,605 — 2,233 — 22,444 Insurance claims incurred, net of reinsurance — 46,754 — 5,651 — 52,405 Payroll and bonuses 17,941 3,172 — 2,322 23,435 Professional services 3,980 148 — 302 4,430 Stock compensation expense 114 — — — 114 Advertising expense 5,027 119 — 1,944 6,971 General and administrative expense 8,391 1,304 — 1,314 (10) 11,118 Provision for impairment losses 1,517 73 — — — 1,590 Other (income)/expense, net (106) 2,359 — (229) 10 2,034 TOTAL EXPENSE 121,448 59,917 — 13,889 (176) 195,078 NET INCOME BEFORE INCOME TAX 144,503 6,836 — 466 — 151,805 Income tax (expense)/benefit (23,362) 8 — 47 — (23,307) INCOME FROM CONTINUING OPERATIONS 121,141 6,844 — 513 — 128,498 Income before income tax expense of discontinued operation 28,518 — — — — 28,518 Income tax expense of discontinued operations (6,735) — — — — (6,735) Income from discontinued operations 21,783 — — — — 21,783 NET INCOME $ 142,924 $ 6,844 $ — $ 513 $ — $ 150,281 Less: Net income attributable to non-controlling interest in subsidiary 631 — — — — 631 NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 142,293 $ 6,844 $ — $ 513 $ — $ 149,650 OTHER COMPREHENSIVE INCOME Change in unrealized gain on investments available-for-sale, net of tax effect — (304) — — — (304) Reclassification adjustment for net realized gain on available-for-sale investments disposed of in the period, net of tax effect 71 2,021 — — — 2,092 Foreign currency translation adjustments, net of tax effect 1,857 10,866 — (9,936) — 2,787 OTHER COMPREHENSIVE INCOME/(LOSS) 1,928 12,583 — (9,936) — 4,575 COMPREHENSIVE INCOME/(LOSS) BEFORE NON-CONTROLLING INTERESTS $ 144,852 $ 19,427 $ — $ (9,423) $ — $ 154,856 Less: Comprehensive income attributable to non-controlling interest in subsidiary 631 — — — — 631 COMPREHENSIVE INCOME/(LOSS) ATTRIBUTABLE TO CONTROLLING INTEREST $ 144,221 $ 19,427 $ — $ (9,423) $ — $ 154,225 For the year ended March 31, 2021, the Company’s EPS as reported was 2.06 for both basic and diluted EPS for continuing operations, 0.37 for both basic and diluted EPS for discontinued operations, 2.44 for basic total EPS, and 2.43 for diluted total EPS. Due to the items noted above, the Company’s EPS has been recast to 2.19 for both basic and diluted EPS for continuing operations, to 0.37 for both basic and diluted EPS for discontinued operations, and to 2.56 for both basic and diluted total EPS, respectively.

CASH AND CASH EQUIVALENTS (Tabl

CASH AND CASH EQUIVALENTS (Tables)	12 Months Ended
	Mar. 31, 2023
Cash and Cash Equivalents [Abstract]
Schedule of cash and cash equivalents	March 31, 2023 March 31, 2022 (Recasted) Short term deposits in National Bank (Kazakhstan) $ 357,454 $ 42,517 Short term deposits in commercial banks 83,755 70,156 Short term deposits on brokerage accounts 37,417 71,060 Petty cash in bank vault and on hand 35,998 18,607 Short term deposits in stock exchanges 31,691 2,828 Securities purchased under reverse repurchase agreements 29,812 19,947 Cash in transit 3,364 35 Overnight deposits 1,926 — Short term deposits in the Central Depository (Kazakhstan) — 314 $ 581,417 $ 225,464
Schedule of repurchase agreements	As of March 31, 2023 and 2022, cash and cash equivalents were not insured. As of March 31, 2023 and 2022, the cash and cash equivalents balance included short-term collateralized securities received under reverse repurchase agreements on the terms presented below: March 31, 2023 Interest rates and remaining contractual maturity of the agreements Average Up to 30 30-90 Total Securities purchased under reverse repurchase agreements US sovereign debt 2.06 % $ 17,102 $ — $ 17,102 Corporate equity 17.17 % 6,963 — 6,963 Non-US sovereign debt 6.12 % 3,483 — 3,483 Corporate debt 2.52 % 2,079 185 2,264 Total $ 29,627 $ 185 $ 29,812 March 31, 2022 (Recasted) Interest rates and remaining contractual maturity of the agreements Average Up to 30 30-90 Total Securities purchased under reverse repurchase agreements US sovereign debt 16.38 % $ 9,952 $ 9,952 Non-US sovereign debt 12.51 % 9,786 — 9,786 Corporate equity 16.90 % 152 — 152 Corporate debt 11.88 % 57 — 57 Total $ 19,947 $ — $ 19,947

RESTRICTED CASH (Tables)

RESTRICTED CASH (Tables)	12 Months Ended
	Mar. 31, 2023
Restricted Cash [Abstract]
Schedule of restricted cash	Restricted cash for the periods ended March 31, 2023 and 2022, consisted of: March 31, 2023 March 31, 2022 (Recasted) Brokerage customers' cash $ 328,435 $ 531,032 Guaranty deposits 116,628 5,540 Restricted bank accounts 10,436 2,844 Deferred distribution payment 23 8,534 Allowance for restricted cash (9,994) — Total restricted cash $ 445,528 $ 547,950

TRADING AND AVAILABLE-FOR-SAL_2

TRADING AND AVAILABLE-FOR-SALE SECURITIES AT FAIR VALUE (Tables)	12 Months Ended
	Mar. 31, 2023
Debt Securities, Trading, and Equity Securities, FV-NI [Abstract]
Schedule of trading and available-for-sale securities	As of March 31, 2023 and 2022, trading and available-for-sale securities consisted of: March 31, 2023 March 31, 2022 (Recasted) Corporate debt $ 1,269,879 $ 712,134 Non-US sovereign debt 1,029,857 360,570 Corporate equity 65,741 72,354 US sovereign debt 45,022 10,435 Exchange traded notes 2,057 2,884 Total trading securities $ 2,412,556 $ 1,158,377 Corporate equity — 1 Corporate debt 191,082 145,836 Non-US sovereign debt 40,162 12,997 US sovereign debt 7,809 2,530 Total available-for-sale securities, at fair value $ 239,053 $ 161,364 The following tables present maturity analysis for available-for-sale securities as of March 31, 2023 and 2022: March 31, 2023 Remaining contractual maturity of the agreements Up to 1 year 1-5 years 5-10 years More than 10 years Total Corporate debt 77,006 82,579 31,486 11 191,082 Non-US sovereign debt — 33,143 820 6,199 40,162 US sovereign debt 1,947 2,805 1,725 1,332 7,809 Total available-for-sale securities, at fair value $ 78,953 $ 118,527 $ 34,031 $ 7,542 $ 239,053 March 31, 2022 Remaining contractual maturity of the agreements Up to 1 year 1-5 years 5-10 years More than 10 years Total Corporate debt 69,364 50,155 26,284 33 145,836 Non-US sovereign debt 1,692 864 1,086 9,355 12,997 US sovereign debt — — — 2,530 2,530 Corporate equity — — — 1 1 Total available-for-sale securities, at fair value $ 71,056 $ 51,019 $ 27,370 $ 11,919 $ 161,364
Schedule of present securities assets at fair value	The following tables present trading securities assets in the Consolidated Financial Statements or disclosed in the Notes to the Consolidated Financial Statements at fair value on a recurring basis as of March 31, 2023 and 2022: Weighted average interest rate Total Fair Value Measurements at March 31, 2023 using Quoted Prices in Active Significant Other Significant unobservable Corporate debt 15.62 % $ 1,269,879 $ 1,106,584 $ 162,895 $ 400 Non-U.S. sovereign debt 12.04 % 1,029,857 971,762 54,319 3,776 Corporate equity — 65,741 62,971 1,808 962 U.S. sovereign debt 4.22 % 45,022 45,022 — — Exchange traded notes — 2,057 447 1,610 — Total trading securities $ 2,412,556 $ 2,186,786 $ 220,632 $ 5,138 Corporate debt 15.78 % 191,082 129,504 61,578 — Non-U.S. sovereign debt 13.64 % 40,162 39,624 538 — U.S. sovereign debt 4.24 % 7,809 7,809 — — Total available-for-sale securities, at fair value $ 239,053 $ 176,937 $ 62,116 $ — Weighted average interest rate Total Fair Value Measurements at March 31, 2022 (Recasted) using Quoted Prices in Active Significant Other Significant unobservable Corporate debt 9.09 % $ 712,134 $ 711,539 $ — $ 595 Non-U.S. sovereign debt 13.15 % 360,570 352,274 — 8,296 Corporate equity — 72,354 71,827 276 251 U.S. sovereign debt 2.35 % 10,435 10,435 — — Exchange traded notes — 2,884 2,884 — — Total trading securities $ 1,158,377 $ 1,148,959 $ 276 $ 9,142 Corporate equity — $ 1 — — 1 Corporate debt 11.09 % 145,836 145,836 — — Non-U.S. sovereign debt 5.51 % 12,997 12,997 — — U.S. sovereign debt 2.17 % 2,530 2,530 — — Total available-for-sale securities, at fair value $ 161,364 $ 161,363 $ — $ 1
Schedule of valuation techniques and significant level 3 inputs	The table below presents the Valuation Techniques and Significant Level 3 Inputs used in the valuation as of March 31, 2023 and 2022. The table is not intended to be all inclusive, but instead captures the significant unobservable inputs relevant to determination of fair value. Type Valuation Technique FV as of March 31, 2023 Significant Unobservable Inputs % Corporate equity DCF $ 961 Discount rate 58.8% Estimated number of years 9 years Corporate debt DCF $ 399 Discount rate 74.0% Estimated number of years 3 months Non-US sovereign debt DCF $ 3,778 Discount rate 48.8% Estimated number of years 11 years $ 5,138 Type Valuation Technique FV as of March 31, 2022 Significant Unobservable Inputs % Corporate equity DCF $ 251 Discount rate 20.0% Estimated number of years 9 years Corporate debt DCF $ 595 Discount rate 45.0% Estimated number of years 3 months Non-US sovereign debt DCF $ 7,524 Discount rate 69.0% Estimated number of years 11 years Non-US sovereign debt DCF $ 772 Discount rate 13.9% Estimated number of years 1 year $ 9,142 The following table provides a reconciliation of the beginning and ending balances for investments that use Level 3 inputs for the year ended March 31, 2023: Trading Balance as of March 31, 2021 (Recasted) $ 19,033 Reclassification to level 3 682 Reclassification to level 1 (18,371) Purchase of investments that use Level 3 inputs 10,812 Revaluation of investments that use Level 3 inputs (3,014) Balance as of March 31, 2022 (Recasted) $ 9,142 Reclassification to level 2 (1,339) Sale of investments that use Level 3 inputs (5,213) Purchase of investments that use Level 3 inputs 2,604 Revaluation of investments that use Level 3 inputs (56) Balance as of March 31, 2023 $ 5,138
Schedule of amortized cost, unrealized gains and losses accumulated in other comprehensive income, and fair value of available-for-sale securities	The table below presents the amortized cost, unrealized gains and losses accumulated in other comprehensive income, and fair value of available-for-sale securities as of March 31, 2023 and 2022: March 31, 2023 Assets measured at amortized cost Recognized impairment loss in Income Statement Unrealized gain/(loss) accumulated in other comprehensive Assets Maturity Date Corporate debt $ 192,167 $ (402) $ (683) $ 191,082 2023 - 2035 Non-US sovereign debt 42,456 — (2,294) 40,162 2024 - indefinite U.S. sovereign debt 8,391 — (582) 7,809 2023 - 2044 Total available-for-sale securities, at fair value $ 243,014 $ (402) $ (3,559) $ 239,053 March 31, 2022 (Recasted) Assets measured at amortized cost Unrealized gain/(loss) accumulated in other comprehensive Assets Maturity Date Corporate debt $ 146,111 $ (275) $ 145,836 2022 - 2035 Non-US sovereign debt 13,784 (787) 12,997 2022 - indefinite U.S. sovereign debt 2,912 (382) 2,530 2044 Corporate equity 1 — 1 not applicable Total available-for-sale securities, at fair value $ 162,808 $ (1,444) $ 161,364

MARGIN LENDING, BROKERAGE AND_2

MARGIN LENDING, BROKERAGE AND OTHER RECEIVABLES, NET (Tables)	12 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
Schedule of brokerage and other receivables	Margin lending, brokerage and other receivables, net of the Company are comprised of the following: March 31, 2023 March 31, 2022 (Recasted) Margin lending receivables $ 361,684 $ 138,983 Receivables from brokerage clients 7,302 4,386 Bank commissions receivable 6,035 598 Receivable for underwriting and market-making services 2,317 296 Long-term installments receivables 895 1,367 Dividends accrued 486 45 Receivable from sale of securities 613 884 Other receivables 9,504 3,207 Allowance for receivables (12,507) (2,107) Total margin lending, brokerage and other receivables, net $ 376,329 $ 147,659

LOAN ISSUED (Tables)

LOAN ISSUED (Tables)	12 Months Ended
	Mar. 31, 2023
Loans and Leases Receivable Disclosure [Abstract]
Schedule of loans issued	Loans issued as of March 31, 2023, consisted of the following: Amount Outstanding Due Dates Average Interest Rate Fair Value of Loan Currency Mortgage loans* $ 534,154 April, 2023 - March, 2048 9.00 % $ 534,154 KZT Right of claims for purchased retail loans 121,177 January, 2023 - March, 2027 15.00 % 121,177 KZT Uncollateralized bank customer loans $ 46,970 January, 2023 - March, 2043 25.00 % KZT Collateralized Bank customer loans 17,653 May, 2023 - March, 2028 2.00 % 17,636 KZT/RUB Car loans $ 102,269 April, 2023 - April, 2030 25.00 % $ 102,247 KZT Subordinated loan 5,039 December, 2025 3.00 % — USD Loans issued to policyholders $ 1,488 June, 2023 - February, 2024 15.00 % $ 1,752 KZT Other 300 March, 2024 - September, 2029 2.00 % — EUR Allowance for loans issued (2,792) Total loans issued $ 826,258 *Fair value of collateral for the mortgage loans is the minimum amount of market value of the pledged immovable property and outstanding loan amount. Loans issued as of March 31, 2022, consisted of the following: Amount Outstanding Due Dates Average Interest Rate Fair Value of Loan Currency Mortgage loans 52,227 April 2022 - March 2047 11.86 % 52,134 KZT Right of claims for purchased retail loans 35,293 April 2022 - March 2026 15.00 % 35,293 KZT Uncollateralized bank customer loans 100 April 2022 - March 2047 10.00 % — KZT Subordinated loan 5,033 December 2022-April 2024 4.89 % — USD Subordinated loan 1,256 December 2022-April 2024 7.00 % — UAH Other 123 February 2022-Febraury 2027 2.50 % — USD Loans to policyholders 43 July 2022 - March 2023 12.02 % 284 KZT Allowance for loans issued $ (1,629) Total loans issued (recasted) $ 92,446

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of deferred tax assets and liabilities	As of March 31, 2023 and March 31, 2022, deferred tax assets and liabilities of the Company were comprised of the following: March 31, 2023 March 31, 2022 (recast) Deferred tax assets: Revaluation on trading securities Tax losses carryforward $ 1,548 $ 679 Accrued liabilities 933 828 Provision for impairment losses 2,079 — Stock compensation expenses — — Deferred tax assets $ 4,560 $ 1,507 Deferred tax liabilities: Revaluation on trading securities $ 29 $ 210 Fixed and Intangible Assets 2,457 — Other liabilities 326 388 Deferred tax liabilities $ 2,812 $ 598 Net deferred tax assets $ 2,442 $ 909 Net deferred tax liabilities $ 694 $ —
Schedule of federal income taxes	The reconciliation of of the amount computed by multiplying income before provision for income taxes at the 21% income tax rate compared to the Company's income tax expense as reported is as follows: Year ended March 31, 2023 Year ended March 31, 2022 Year ended March 31, 2021 (recast) (recast) Income before income tax at 21% $ 49,547 $ 76,376 $ 31,879 Global intangible low taxed income 39,139 31,194 18,451 Permanent differences 14,096 (2,567) (2,160) Subpart F Income 4,732 — — Stock based compensation 2,039 3,090 348 Provision for impairment losses — (13) 113 Valuation allowance — (316) (361) Foreign tax rate differential (13,089) (18,544) (9,491) Foreign tax credit (18,423) (16,200) (10,155) Nontaxable gains (35,265) (34,450) (5,317) Income tax expense $ 42,776 $ 38,570 $ 23,307
Schedule of income tax expenses	As of March 31, 2023, 2022 and 2021, income tax expense was comprised of the following: Year ended March 31, 2023 Year ended March 31, 2022 Year ended March 31, 2021 (recast) (recast) Current income tax charge Federal 22,387 15,184 7,771 Foreign 21,406 27,381 14,040 43,793 42,565 21,811 Deferred income tax charge Federal (2,606) (2,191) 1,752 Foreign 1,589 (1,804) (256) (1,017) (3,995) 1,496 Income tax expense $ 42,776 $ 38,570 $ 23,307
Schedule of Income before Income Tax, Domestic and Foreign	Income before income taxes includes the following components: Year ended March 31, 2023 Year ended March 31, 2022 Year ended March 31, 2021 (recast) (recast) United States $ (26,383) $ (8,012) $ 1,076 Foreign 262,321 371,705 150,729 Net income before income tax $ 235,938 $ 363,693 $ 151,805

FIXED ASSETS, NET (Tables)

FIXED ASSETS, NET (Tables)	12 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of fixed assets	As of March 31, 2023 and 2022, fixed assets, net of the Company included the following: March 31, 2023 March 31, 2022 (Recasted) Buildings $ 19,569 $ 7,770 Office equipment 11,004 4,633 Processing and storage data centers 10,793 3,729 Land 9,106 1,564 Furniture 6,633 2,759 Capital expenditures on leasehold improvements 3,288 1,239 Vehicles 1,516 643 Other 1,428 722 Less: Accumulated depreciation (9,320) (5,236) Total fixed assets, net $ 54,017 $ 17,823

INTANGIBLE ASSETS, NET (Tables)

INTANGIBLE ASSETS, NET (Tables)	12 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	As of March 31, 2023 and 2022, intangible assets, net of the Company included the following: March 31, 2023 March 31, 2022 (Recasted) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortized intangible assets Client base $ 5,264 $ (1,707) $ 1,843 $ (1,504) Software 6,140 (992) 1,898 (572) Value added business 5,058 (2,355) 3,643 (2,257) Licenses 4,977 (489) 2,574 (509) Other intangible assets 2,074 (355) 49 (2) Total $ 23,513 $ (5,898) $ 10,007 $ (4,844) Total intangible assets, net $ 17,615 $ 5,163 Aggregate Amortization Expense For year ended 31.03.2023 $ 1,054 Estimated Amortization Expense For year ended 31.03.2024 $ 2,115 For year ended 31.03.2025 $ 1,809 For year ended 31.03.2026 $ 1,555 For year ended 31.03.2027 $ 1,194 For year ended 31.03.2028 $ 1,118

OTHER ASSETS, NET (Tables)

OTHER ASSETS, NET (Tables)	12 Months Ended
	Mar. 31, 2023
Other Assets [Abstract]
Schedule of other assets	As of March 31, 2023 and 2022, other assets, net of the Company included the following: March 31, 2023 March 31, 2022 (Recasted) Prepayments on future acquisitions $ 23,428 $ 4,069 Deferred acquisition costs 17,495 9,617 Advances paid 12,553 4,340 Taxes other than income taxes 5,908 1,697 Investments in joint ventures and associated companies 4,000 — Deferred tax assets 2,442 909 Current income tax asset 1,529 2,497 Rent guarantee deposit 363 759 Due from financial institutions — 4,763 Other 5,745 990 Total other assets 73,463 29,641 Allowance for other assets — — Other assets, net $ 73,463 $ 29,641

SECURITIES REPURCHASE AGREEME_2

SECURITIES REPURCHASE AGREEMENT OBLIGATIONS (Tables)	12 Months Ended
	Mar. 31, 2023
Securities Sold under Agreements to Repurchase [Abstract]
Schedule of Securities under repurchase agreement obligations	As of March 31, 2023 and 2022, trading securities included collateralized securities subject to repurchase agreements as described in the following table: March 31, 2023 Interest rates and remaining contractual maturity of the agreements Average Up to 30-90 Over 90 Total Securities sold under repurchase agreements Non-US sovereign debt 15.98 % $ 826,196 $ 55,265 $ — $ 881,461 Corporate debt 16.07 % 597,559 5,375 — 602,934 US sovereign debt 1.52 % 17,637 — — 17,637 Corporate equity 12.24 % 15,384 — — 15,384 Total securities sold under repurchase agreements $ 1,456,776 $ 60,640 $ — $ 1,517,416 March 31, 2022 (Recasted) Interest rates and remaining contractual maturity of the agreements Average Up to 30 30-90 Over 90 Total Securities sold under repurchase agreements Corporate debt 11.96 % $ 609,405 $ 142 $ — $ 609,547 Non-US sovereign debt 10.85 % 222,893 — — 222,893 US sovereign debt 0.77 % 7,396 — — 7,396 Corporate equity 14.00 % 388 — — 388 Total securities sold under repurchase agreements $ 840,082 $ 142 $ — $ 840,224

CUSTOMER LIABILITIES (Tables)

CUSTOMER LIABILITIES (Tables)	12 Months Ended
	Mar. 31, 2023
Contract with Customer, Liability [Abstract]
Schedule of customer liabilities	The Company recognizes customer liabilities associated with funds held by our brokerage and bank customers. Customer liabilities consist of: March 31, 2023 March 31, 2022 (Recasted) Amount Interest rate Amount Interest rate Interest-bearing deposits: Term deposits $ 832,751 0.1% -16.9% 164,837 0.01%-14.3% Total Interest-bearing deposits $ 832,751 $ 164,837 Non-interest-bearing deposits: Current customer accounts $ 458,954 $ 81,447 Brokerage customers $ 633,542 $ 519,344 Total non-interest-bearing deposits $ 1,092,496 $ 600,791 Total customer liabilities 1,925,247 765,628

MARGIN LENDING AND TRADE PAYA_2

MARGIN LENDING AND TRADE PAYABLES (Tables)	12 Months Ended
	Mar. 31, 2023
Accounts Payable [Abstract]
Schedule of trade payables	As of March 31, 2023 and 2022, margin lending and trade payables of the Company included the following: March 31, 2023 March 31, 2022 (Recasted) Margin lending payable $ 117,144 $ 39,250 Payables to suppliers of goods and services 2,965 4,463 Trade payable for securities purchased 482 462 Other 2,309 908 Total margin lending and trades payables $ 122,900 $ 45,083

Compensation Related Costs, Ret

Compensation Related Costs, Retirement Benefits (Tables)	12 Months Ended
	Mar. 31, 2023
Retirement Benefits [Abstract]
Investments Sold, Not yet Purchased	The following table provides a reconciliation of the beginning and ending balances for securities sold, not yet purchased - at fair value by the Company, as of March 31, 2023 and 2022: Total Balance as of March 31, 2021 (Recasted) $ 8,569 Short sales 7,055 Repurchase (346) Net gain on trading securities (1,413) Balance as of March 31, 2022 (Recasted) $ 13,865 Balance as of March 31, 2022 (Recasted) $ 13,865 Short sales 394 Repurchase (15,650) Net loss on trading securities 1,391 Balance as of March 31, 2023 $ —

DEBT SECURITIES ISSUED (Tables)

DEBT SECURITIES ISSUED (Tables)	12 Months Ended
	Mar. 31, 2023
Debt Securities [Abstract]
Schedule of outstanding debt securities of company	As of March 31, 2023 and 2022, outstanding debt securities of the Company included the following: Debt securities issued by March 31, 2023 March 31, 2022 (Recasted) Freedom SPC $ 58,582 $ 13,200 Freedom Holding Corp. — 20,500 Accrued interest 1,443 690 Total debt securities issued $ 60,025 $ 34,390

INSURANCE CONTRACTS ASSETS AN_2

INSURANCE CONTRACTS ASSETS AND LIABILITIES FROM INSURANCE ACTIVITIES (Tables)	12 Months Ended
	Mar. 31, 2023
Insurance [Abstract]
Insurance And Reinsurance Receivables	As of March 31, 2023, and March 31, 2022, insurance and reinsurance receivables of the Company was comprised of the following: March 31, 2023 March 31, 2022 Assets: (Recasted) Amounts due from policyholders $ 9,699 $ 3,500 Claims receivable from reinsurance 1,087 769 Amounts due from reinsured 555 23 Less provision for impairment losses (1,325) (343) Insurance and reinsurance receivables: 10,016 3,949 Unearned premium reserve, reinsurers’ share 2,379 143 Reserves for claims and claims’ adjustment expenses, reinsurers’ share 1,390 1,620 Total $ 13,785 $ 5,712
Insurance And Reinsurance Payables	As of March 31, 2023, and March 31, 2022, insurance and reinsurance payable of the Company was comprised of the following: March 31, 2023 March 31, 2022 Liabilities: (Recasted) Amounts payable to agents and brokers $ 2,466 $ 1,981 Amounts payable to reinsurers 2,002 402 Amounts payable to insured 1,807 685 Insurance and reinsurance payables: 6,275 3,068 Unearned premium reserve 43,082 17,985 Reserves for claims and claims’ adjustment expenses 133,145 101,034 Total $ 182,502 $ 122,087

OTHER LIABILITIES (Tables)

OTHER LIABILITIES (Tables)	12 Months Ended
	Mar. 31, 2023
Risks and Uncertainties [Abstract]
Schedule of other liabilities	As of March 31, 2023 and 2022, other liabilities of the Company included the following: March 31, 2023 March 31, 2022 (Recasted) Salaries and other employee benefits $ 4,970 $ 2,120 Payable to suppliers 3,623 3,308 Vacation reserve 3,261 1,400 Taxes payable other than income tax 2,782 567 Deferred income tax liabilities 694 — Deferred distribution payments 156 8,534 Loans received 1 3,538 Outstanding settlements operations — 292 Other 7,385 1,718 Total other liabilities $ 22,872 $ 21,477

FEE AND COMMISSION INCOME (Tabl

FEE AND COMMISSION INCOME (Tables)	12 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
Disclosure Of Fee And Commission Income	During the year ended March 31, 2023, March 31, 2022 and March 31, 2021, fee and commission income was comprised of: Year ended March 31, 2023 Central Asia and Eastern Europe Europe, excluding Eastern Europe U.S. Total Brokerage services 68,224 214,093 4,415 286,732 Bank services 17,964 — — 17,964 Underwriting and market-making services 11,538 — 410 11,948 Other fee and commission income 9,256 1,315 — 10,571 Total fee and commission income 106,982 215,408 4,825 327,215 Year ended March 31, 2022 (Recasted) Central Asia and Eastern Europe Europe, excluding Eastern Europe U.S. Total Brokerage services 7,908 306,245 4,545 318,698 Bank services 6,727 — — 6,727 Underwriting and market-making services 5,963 — — 5,963 Other fee and commission income 3,054 769 — 3,823 Total fee and commission income 23,652 307,014 4,545 335,211 Year ended March 31, 2021 (Recasted) Central Asia and Eastern Europe Europe, excluding Eastern Europe U.S. Total Brokerage services 8,803 194,311 1,130 204,244 Bank services 523 — — 523 Underwriting and market-making services 6,451 — — 6,451 Other fee and commission income 4,790 — — 4,790 Total fee and commission income 20,567 194,311 1,130 216,008

NET GAIN ON TRADING SECURITIES

NET GAIN ON TRADING SECURITIES (Tables)	12 Months Ended
	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of net gain on trading securities	For year ended March 31, 2023, 2022 and 2021, net gain on trading securities included the following: Year ended March 31, 2023 Year ended March 31, 2022 Year ended March 31, 2021 (Recasted) (Recasted) Net unrealized gain/(loss) recognized during the reporting period on trading securities still held at the reporting date $ 107,310 $ (50,987) $ 8,672 Net (loss)/gain recognized during the period on trading securities sold during the period (36,226) 206,239 20,135 Net gain recognized during the period on trading securities $ 71,084 $ 155,252 $ 28,807

NET INTEREST INCOME_ (EXPENSE)

NET INTEREST INCOME/ (EXPENSE) (Tables)	12 Months Ended
	Mar. 31, 2023
Interest Income (Expense), Net [Abstract]
Schedule of net interest income/(expense)	Net interest income/expense includes: Year ended March 31, 2023 Year ended March 31, 2022 Year ended March 31, 2021 Interest income: (Recasted) (Recasted) Interest income on trading securities $ 178,288 $ 78,327 $ 21,913 Interest income on margin lending 34,558 14,164 3,163 Interest income on loans issued 43,486 4,617 384 Interest income on available-for-sale securities 27,003 22,437 11,238 Interest income on cash and cash equivalents and restricted cash 9,836 1,658 1,630 Interest income from dividends 1,524 406 146 Total interest income $ 294,695 $ 121,609 $ 38,474 Interest expense: Interest expense on securities repurchase agreement obligations $ 158,595 $ 58,229 $ 10,915 Interest expense on customer liabilities 40,335 16,336 7,335 Interest expense on margin lending payable 6,635 — — Interest expense on debt securities issued 3,085 1,822 4,034 Interest expense on loans received 290 539 151 Other interest expense 7 21 9 Total interest expense $ 208,947 $ 76,947 $ 22,444 Net interest income $ 85,748 $ 44,662 $ 16,030

NET GAIN_(LOSS) ON FOREIGN EX_2

NET GAIN/(LOSS) ON FOREIGN EXCHANGE OPERATIONS (Tables)	12 Months Ended
	Mar. 31, 2023
Research and Development [Abstract]
Schedule of net gain on foreign exchange operations	Net gain on foreign exchange operations includes: Year ended March 31, 2023 Year ended March 31, 2022 Year ended March 31, 2021 (Recasted) (Recasted) Sales and purchases of foreign currency, dealing $ 45,963 $ (4,057) $ 609 Translation of financial assets and financial liabilities 6,191 7,848 (52) Total net gain on foreign exchange operations $ 52,154 $ 3,791 $ 557

NET (LOSS)_GAIN ON DERIVATIVES

NET (LOSS)/GAIN ON DERIVATIVES (Tables)	12 Months Ended
	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments, Gain (Loss)	For years ended March 31, 2023, 2022 and 2021, net (loss)/gain on derivatives included the following: Year ended March 31, 2023 Year ended March 31, 2022 Year ended March 31, 2021 (Recasted) (Recasted) Net realized (loss)/gain on derivatives (64,838) 946 86 Net unrealized loss/(gain) on derivatives 12 — — Total net (loss)/gain on derivatives $ (64,826) $ 946 $ 86

STOCK BASED COMPENSATION (Table

STOCK BASED COMPENSATION (Tables)	12 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Schedule of fair value of such stock options using the Black-Scholes option valuation	The Company has determined the fair value of shares awarded during the year ended March 31, 2023, using the Monte Carlo valuation model based on the following key assumptions: Term (years) 3.62 Volatility 35.1 % Risk-free rate 4.18 %
Schedule of restricted stock activity	The table below summarizes the activity for the Company's stock awards outstanding during the year ended March 31, 2023: Shares Weighted Outstanding, March 31, 2022 1,049,500 40,303 Granted 65,216 3,506 Vested (274,158) (11,484) Forfeited/cancelled/expired (373,500) (14,290) Outstanding, March 31, 2023 467,058 18,035

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Disclosure of lease related assets and liabilities	The table below presents the lease related assets and liabilities recorded on the Company's consolidated balance sheets as of March 31, 2023: Classification on Balance Sheet March 31, 2023 Assets Operating lease assets Right-of-use assets $ 30,345 Total lease assets $ 30,345 Liabilities Operating lease liability Operating lease obligations $ 30,320 Total lease liability $ 30,320
Disclosure of lease operations	The following table presents as of March 31, 2023, the annual maturities of the lease liabilities: Twelve months ending March 31, 2024 $ 9,413 2025 7,971 2026 7,543 2027 6,629 2028 4,766 Thereafter 4,199 Total payments 40,521 Less: amounts representing interest (10,201) Lease liability $ 30,320 Weighted average remaining lease term (in months) 21 Weighted average discount rate 13 %

ACQUISITIONS OF SUBSIDIARIES (T

ACQUISITIONS OF SUBSIDIARIES (Tables)	12 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of purchase price of acquisition	As of the acquisition date by Timur Turlov, the fair value of Freedom Life was $12,076. The total purchase price was allocated as follows: Purchase price allocation ASSETS Cash and cash equivalents $ 3,494 Due from banks 2,514 Loans issued 2 Other assets 1,671 Assets from insurance activity 3,729 Deferred acquisition costs 542 Available-for-sale securities, at fair value 15,842 Fixed assets 171 Intangible assets 5,823 Deferred tax assets 141 TOTAL ASSETS 33,929 Deferred income tax liabilities 47 Other liabilities 139 Liabilities from insurance activity 21,667 TOTAL LIABILITIES 21,853 Net assets acquired 12,076 Goodwill 526 Total purchase price 7,009 Fair value of non-controlling interest at acquisition 5,593 Purchase price allocation ASSETS: Cash and cash equivalents $ 1,224 Due from banks 1,041 Other assets 17 Assets from insurance activity 45 Current income tax asset 5 Available-for-sale securities, at fair value 1,846 Fixed assets 2 Intangible assets 207 Deferred tax assets 2 TOTAL ASSETS 4,389 Other liabilities 214 Liabilities from insurance activity 74 TOTAL LIABILITIES 288 Net assets acquired 4,101 Goodwill 187 Total purchase price 4,288 As of September 1, 2022 ASSETS Cash and cash equivalents $ 8,077 Due from banks 2,176 Trading securities 6,178 Value of business acquired 1,677 Assets from insurance activities 3,401 Fixed assets 806 Intangible assets 127 Other assets 1,505 TOTAL ASSETS 23,947 Insurance reserves 6,380 Liabilities from insurance activity 1,429 Other liabilities 280 TOTAL LIABILITIES 8,089 Net assets acquired 15,858 Goodwill 485 Total purchase price $ 16,343 ASSETS Cash and cash equivalents $ 3,079 Brokerage and other receivables 175 Fixed assets 47 Intangible assets 1,424 Right-of-use asset 63 Other assets 627 TOTAL ASSETS 5,415 Deferred income tax liabilities 36 Lease liability 79 Other liabilities 4,067 TOTAL LIABILITIES 4,182 Net assets acquired 1,233 Goodwill 1,771 Total purchase price $ 3,004 ASSETS Cash and cash equivalents 5,429 Trading securities 3,838 Brokerage and other receivables 1,726 Fixed assets 1,080 Intangible assets 3,288 Right-of-use asset 341 Goodwill 932 Other assets 454 TOTAL ASSETS 17,088 Securities repurchase agreement obligations 3,037 Trade payables 799 Lease liability 993 Other liabilities 600 TOTAL LIABILITIES 5,429 Net assets acquired 11,659 Goodwill — Total purchase price 11,659 As of March 2, 2023 ASSETS Intangible assets 2,540 TOTAL ASSETS 2,540 Trade payables 14 TOTAL LIABILITIES 14 Net assets acquired 2,526 Goodwill 5,774 Total purchase price 8,300

ASSETS AND LIABILITIES HELD F_2

ASSETS AND LIABILITIES HELD FOR SALE (Tables)	12 Months Ended
	Mar. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Schedule of net gain on foreign exchange operations	February 28, 2023 March 31, 2022 Cash and cash equivalents 593,953 428,480 Restricted cash 6,033 28,406 Trading securities 113,845 122,497 Margin lending, brokerage and other receivables, net 257,184 210,087 Loans issued 23,169 2,395 Other assets 32,398 33,554 Total assets held for sale 1,026,582 825,419 Customer liabilities 776,425 701,584 Securities repurchase agreement obligations 33,275 32,469 Debt securities issued 34,379 64,637 Other liabilities 16,385 13,788 Total liabilities held for sale 860,464 812,478 The results of operations for discontinued operations for the eleven months ended February 28, 2023 and for the years ended March 31, 2022 and 2021, consist of the following: For The Eleven Months Ended February 28, 2023 For The Year Ended March 31, 2022 For The Year Ended March 31, 2021 Fee and commission income 77,109 69,742 52,780 Net gain/(loss) on trading securities 22,045 (78,674) 20,275 Net loss on derivative (44) — 39 Interest income 53,410 28,399 11,221 Net gain/(loss) on foreign exchange operations 45,859 (39,672) 2,285 TOTAL REVENUE, NET 198,379 (20,205) 86,600 Payroll and bonuses 58,971 39,114 24,827 Professional services 620 467 239 Stock compensation expense 1,743 7,887 1,033 Advertising expense 14,945 7,085 1,881 General and administrative expense 26,031 18,476 14,001 Interest expense 15,051 10,450 8,760 Fee and commission expense 10,467 7,988 7,122 Provision for impairment losses 1,566 779 45 Other (income)/expense, net 825 4,748 174 TOTAL EXPENSE 130,219 96,994 58,082 INCOME/(LOSS) BEFORE INCOME TAX 68,160 $ (117,199) $ 28,518 The net cash flows used in operating and investing activities for discontinued operations for the eleven months ended February 28, 2023 and for the years ended March 31, 2022 and 2021, consist of the following: For The Eleven Months Ended February 28, 2023 For The Year Ended March 31, 2022 For The Year Ended March 31, 2021 (Recasted) (Recasted) Cash Flows From Operating Activities Net income/(loss) from discontinued operations $ 12,424 $ (104,195) $ 21,783 Adjustments to reconcile net income used in operating activities: Depreciation and amortization 2,103 2,035 1,745 Noncash lease expense 5,772 4,932 3,826 Change in deferred taxes 8,203 (12,634) 1,170 Impairment of FFIN Bank goodwill — 723 — Impairment of Zerich goodwill — 810 — Stock compensation expense 1,743 7,887 1,033 Unrealized loss/(gain) on trading securities (35,244) 51,652 (425) Net change in accrued interest (276) 354 (1,921) Client base write-off — 3,125 — Allowances for receivables 1,871 771 41 Loss from divestiture of Russian subsidiaries 51,533 — — Changes in operating assets and liabilities: Trading securities 62,100 (39,354) (100,133) Margin lending, brokerage and other receivables (23,325) (218,852) 28,845 Other assets (2,684) (3,684) (1,292) Securities sold, not yet purchased – at fair value 182 239 23 Customer liabilities (106,396) 198,608 392,855 Current income tax liability 1 (637) 658 Margin lending and trade payables (15) (370) 230 Lease liabilities (5,763) (5,166) (3,854) Other liabilities 3,676 1,256 2,433 Net cash flows from/(used in) operating activities from discontinued operations (24,095) (112,500) 347,017 Cash Flows Used In Investing Activities Purchase of fixed assets (4,421) (3,438) (2,137) Proceeds from sale of fixed assets — — 76 Net change in loans issued to customers (25,331) (945) (171) Cash, cash equivalents and restricted cash disposed from divestiture of Russia segment (599,986) — — Net cash flows used in investing activities from discontinued operations (629,738) (4,383) (2,232) The following table presents reconciliation of loss from disposal of discontinued operations as of disposal date: February 28, 2023 Cash and cash equivalents 593,953 Restricted cash 6,033 Trading securities 113,845 Margin lending, brokerage and other receivables, net 257,184 Loans issued 23,169 Other assets 32,398 Total assets of discontinued operations $ 1,026,582 Customer liabilities 776,425 Securities repurchase agreement obligations 33,275 Debt securities issued 34,379 Other liabilities 16,385 Total liabilities of discontinued operations $ 860,464 Net assets of discontinued operations $ 166,118 Reclassification of unrealized loss from cumulative translation adjustment 25,415 Adjusted net assets of discontinued operations $ 191,533 Consideration received 140,000 Loss from divestiture of discontinued operations $ (51,533)

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of bank guarantees	Total lending related commitments outstanding at March 31, 2023 and 2022, were as follows: As of March 31, 2023 As of March 31, 2022 (Recasted) Unfunded commitments under lines of credit $ 20,617 $ 11,292 Bank guarantees 7,001 6,384 Total $ 27,618 $ 17,676

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	12 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables summarize the Company's Statement of operation by its geographic segments. There are no revenues from transactions between the segments and intercompany balances were eliminated for separate: Year ended March 31, 2023 STATEMENTS OF OPERATIONS Central Asia and Eastern Europe Europe, excluding Eastern Europe US Middle East/Caucasus Total Fee and commission income (1) $ 106,982 $ 215,408 $ 4,825 $ — $ 327,215 Net gain/(loss) on trading securities 92,330 (22,693) 1,447 — 71,084 Interest income 257,285 26,090 11,289 31 294,695 Insurance underwriting income 115,371 — — — 115,371 Net gain/(loss) on foreign exchange operations 58,908 (2,287) (4,479) 12 52,154 Net loss on derivative (64,826) — — — (64,826) TOTAL REVENUE, NET 566,050 216,518 13,082 43 795,693 Fee and commission expense $ 34,939 $ 29,426 $ 1,238 $ 57 $ 65,660 Interest expense 172,326 22,042 14,579 — 208,947 Insurance claims incurred, net of reinsurance 77,329 — — — 77,329 Payroll and bonuses 56,774 16,090 7,818 1,137 81,819 Professional services 1,594 7,397 7,875 140 17,006 Stock compensation expense 6,582 550 2,161 — 9,293 Advertising expense 7,847 5,900 186 126 14,059 General and administrative expense 34,754 20,496 4,095 626 59,971 Provision for impairment losses 12,522 15,070 1,527 — 29,119 Other (income)/expense, net (4,485) 1,101 (14) (50) (3,448) TOTAL EXPENSE 400,182 118,072 39,465 2,036 559,755 INCOME/(LOSS) BEFORE INCOME TAX FROM CONTINUING OPERATIONS $ 165,868 $ 98,446 $ (26,383) (1,993) $ 235,938 Income tax expense (625) (21,813) (20,278) (60) (42,776) NET INCOME/(LOSS) FROM CONTINUING OPERATIONS $ 165,243 $ 76,633 $ (46,661) (2,053) $ 193,162 Year ended March 31, 2022 (Recasted) STATEMENTS OF OPERATIONS Central Asia and Eastern Europe Europe, excluding Eastern Europe US Middle East/Caucasus Total Fee and commission income (1) $ 23,652 $ 307,014 $ 4,545 $ — $ 335,211 Net gain on trading securities 10,511 142,195 2,546 — 155,252 Interest income 107,075 14,051 483 — 121,609 Insurance underwriting income 72,981 — — — 72,981 Net gain/(loss) on foreign exchange operations 7,824 (5,598) 1,565 — 3,791 Net gain on derivative 946 — — — 946 TOTAL REVENUE, NET 222,989 457,662 9,139 — 689,790 Fee and commission expense 20,610 64,519 780 — 85,909 Interest expense 66,392 8,747 1,808 — 76,947 Insurance claims incurred, net of reinsurance 54,447 — — — 54,447 Payroll and bonuses 32,562 9,419 4,224 83 46,288 Professional services 1,773 5,540 5,295 74 12,682 Stock compensation expense 4,768 677 2,414 — 7,859 Advertising expense 4,684 7,217 9 6 11,916 General and administrative expense 16,770 4,894 1,749 120 23,533 Provision for impairment losses 2,441 61 — — 2,502 Other expense/(income), net 3,138 7 872 (3) 4,014 TOTAL EXPENSE 207,585 101,081 17,151 280 326,097 INCOME/(LOSS) BEFORE INCOME TAX FROM CONTINUING OPERATIONS $ 15,404 $ 356,581 $ (8,012) (280) $ 363,693 Income tax (expense)/benefit 1,195 (26,786) (12,988) 9 (38,570) NET INCOME/(LOSS) FROM CONTINUING OPERATIONS $ 16,599 $ 329,795 $ (21,000) (271) $ 325,123 Year ended March 31, 2021 (Recasted) STATEMENTS OF OPERATIONS Central Asia and Eastern Europe Europe, excluding Eastern Europe US Middle East/Caucasus Total Fee and commission income (1) $ 20,567 $ 194,311 $ 1,130 $ — $ 216,008 Net gain on trading securities 21,310 8 7,489 — 28,807 Interest income 34,158 3,634 682 — 38,474 Insurance underwriting income 62,951 — — — 62,951 Net gain/(loss) on foreign exchange operations 1,072 (300) (215) — 557 Net gain on derivative 86 — — — 86 TOTAL REVENUE, NET 140,144 197,653 9,086 — 346,883 Fee and commission expense 7,412 62,430 695 — 70,537 Interest expense 16,608 3,663 2,173 — 22,444 Insurance claims incurred, net of reinsurance 52,405 — — — 52,405 Payroll and bonuses 16,878 5,398 1,156 3 23,435 Professional services 685 769 2,975 1 4,430 Stock compensation expense — 56 58 — 114 Advertising expense 3,566 3,386 19 — 6,971 General and administrative expense 8,036 2,518 553 11 11,118 Provision for impairment losses 1,086 108 396 — 1,590 Other expense/(income), net 2,052 (3) (15) — 2,034 TOTAL EXPENSE 108,728 78,325 8,010 15 195,078 INCOME/(LOSS) BEFORE INCOME TAX FROM CONTINUING OPERATIONS $ 31,416 $ 119,328 $ 1,076 (15) $ 151,805 Income tax (expense)/benefit 111 (13,859) (9,559) — (23,307) NET INCOME/(LOSS) FROM CONTINUING OPERATIONS $ 31,527 $ 105,469 $ (8,483) (15) $ 128,498 The following tables summarize the Company's total asset and total liabilities by its geographic segments. Intercompany balances were eliminated for separate disclosure: March 31, 2023 Central Asia and Eastern Europe Europe, excluding Eastern Europe US Middle East/ Caucasus Held for sale Total Total assets $ 4,303,126 $ 677,425 $ 101,365 $ 2,642 $ 5,084,558 Total liabilities 3,868,326 384,921 60,198 377 4,313,822 Net assets $ 434,800 $ 292,504 $ 41,167 $ 2,265 $ 770,736 March 31, 2022 (Recasted) Central Asia and Eastern Europe Europe, excluding Eastern Europe US Middle East/ Caucasus Held for sale Total Total assets $ 1,466,214 $ 765,698 $ 172,661 $ 355 $ 825,419 $ 3,230,347 Total liabilities 1,206,084 489,884 175,121 172 812,478 2,683,739 Net assets $ 260,130 $ 275,814 $ (2,460) $ 183 $ 12,941 $ 546,608

DESCRIPTION OF BUSINESS (Detail

DESCRIPTION OF BUSINESS (Details) $ in Thousands, ₽ in Millions	Mar. 31, 2023	Jan. 31, 2023 RUB (₽)	Jan. 31, 2023 USD ($)	Mar. 31, 2022	Jul. 31, 2021	Jun. 30, 2021
Related Party Transaction [Line Items]
Variable interest entity, contract agreement, percent of net profits entitled (in percent)	90%
Ownership interest sold during the period (in percent)					23.88%
Freedom RU
Related Party Transaction [Line Items]
Consideration received		₽ 50	$ 695
LLC Freedom Finance Ukraine
Related Party Transaction [Line Items]
Ownership percentage, non-controlling interest (in percent)	9%				9%	32.90%
Ownership percentage, controlling interest (in percent)	91%
Ownership interest sold during the period (in percent)					23.90%
Subsidiaries Listed On The Ukrainian Exchange
Related Party Transaction [Line Items]
Ownership percentage, non-controlling interest (in percent)				24.30%

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Variable Interest Entities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Variable Interest Entity [Line Items]
Cash and cash equivalents (including $35,549 and $22,787 from related parties)		$ 225,464
Restricted cash (including $114,885 and $222,651 from related parties)		547,950
Trading securities	$ 2,412,556	1,158,377
Margin lending, brokerage and other receivables, net (including $294,985 and $107,649 from related parties)	376,329	147,659
Fixed assets, net	54,017	17,823
Intangible assets, net	17,615	5,163
Other assets, net (including $16,089 and $— from related party)		29,641
Total assets	5,084,558	3,230,347
Customer liabilities (including $130,210 and $325,904 from related parties)	1,925,247	765,628
Securities repurchase agreement obligations	1,517,416	840,224
Other liabilities		21,477
Total liabilities	4,313,822	2,683,739
Variable interest entity
Variable Interest Entity [Line Items]
Cash and cash equivalents (including $35,549 and $22,787 from related parties)	26	134
Restricted cash (including $114,885 and $222,651 from related parties)	1,936	2,843
Trading securities	4,010	2,942
Margin lending, brokerage and other receivables, net (including $294,985 and $107,649 from related parties)	1,616	435
Fixed assets, net	782	1,043
Intangible assets, net	131	205
Right-of-use asset	135	905
Other assets, net (including $16,089 and $— from related party)	56	127
Total assets	8,692	8,634
Customer liabilities (including $130,210 and $325,904 from related parties)	5,837	8,439
Securities repurchase agreement obligations	12	3,267
Trade payables	25	35
Lease liability	159	914
Other liabilities	298	434
Total liabilities	$ 6,331	$ 13,089

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) $ in Thousands			1 Months Ended	3 Months Ended	11 Months Ended	12 Months Ended
	Apr. 01, 2023 USD ($)	Mar. 31, 2023 USD ($)	Feb. 28, 2023 issuer	Mar. 31, 2022 USD ($) issuer	Feb. 28, 2023 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)
Property, Plant and Equipment [Line Items]
Lending margin receivable		$ 37,100
Goodwill, net of impairment		$ 14,192		$ 5,898		$ 14,192	$ 5,898	$ 7,697
Impairment expense						0	$ 2,300
Number of operating segments | issuer			4	5
Impairment, Intangible Asset, Finite-Lived, Statement of Income or Comprehensive Income [Extensible Enumeration]							Provision for impairment losses
Advertising expense						$ 14,059	$ 11,916	6,971
Accounting Standards Update 2016-13 | Forecast
Property, Plant and Equipment [Line Items]
Expected adjustment to the allowance for credit losses	$ 10,000
Zerich, Freedom Bank RU and Freedom UA
Property, Plant and Equipment [Line Items]
Impairment expense							2,300
Discontinued operations
Property, Plant and Equipment [Line Items]
Provision for impairment losses					$ 1,566		779	45
Advertising expense					$ 14,945		$ 7,085	$ 1,881
Minimum
Property, Plant and Equipment [Line Items]
Useful lives of assets						3 years
Maximum
Property, Plant and Equipment [Line Items]
Useful lives of assets						65 years

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of changes in the carrying amount of goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Goodwill, gross
Goodwill, gross, beginning balance	$ 8,198	$ 7,697
Foreign currency translation	(74)	501
Acquired	8,368	0
Goodwill, gross, ending balance	16,492	8,198	$ 7,697
Accumulated impairment
Accumulated goodwill impairment, beginning balance	2,300	0
Impairment expense	0	2,300
Accumulated goodwill impairment, ending balance	2,300	2,300	0
Goodwill, net of impairment
Goodwill, net of impairment	14,192	5,898	7,697
Held for sale
Goodwill, gross
Goodwill, gross, beginning balance	1,468	810
Foreign currency translation	0	658
Acquired	0	0
Goodwill, gross, ending balance	1,468	1,468	810
Accumulated impairment
Accumulated goodwill impairment, beginning balance	1,468	0
Impairment expense	0	1,468
Accumulated goodwill impairment, ending balance	1,468	1,468	0
Goodwill, net of impairment
Goodwill, net of impairment	0	0	810
Central Asia and Eastern Europe
Goodwill, gross
Goodwill, gross, beginning balance	5,104	5,261
Foreign currency translation	(74)	(157)
Acquired	2,594	0
Goodwill, gross, ending balance	7,624	5,104	5,261
Accumulated impairment
Accumulated goodwill impairment, beginning balance	832	0
Impairment expense	0	832
Accumulated goodwill impairment, ending balance	832	832	0
Goodwill, net of impairment
Goodwill, net of impairment	6,792	4,272	5,261
Europe, excluding Eastern Europe
Goodwill, gross
Goodwill, gross, beginning balance	0	0
Foreign currency translation	0	0
Acquired	0	0
Goodwill, gross, ending balance	0	0	0
Accumulated impairment
Accumulated goodwill impairment, beginning balance	0	0
Impairment expense	0	0
Accumulated goodwill impairment, ending balance	0	0	0
Goodwill, net of impairment
Goodwill, net of impairment	0	0	0
US
Goodwill, gross
Goodwill, gross, beginning balance	1,626	1,626
Foreign currency translation	0	0
Acquired	5,774	0
Goodwill, gross, ending balance	7,400	1,626	1,626
Accumulated impairment
Accumulated goodwill impairment, beginning balance	0	0
Impairment expense	0	0
Accumulated goodwill impairment, ending balance	0	0	0
Goodwill, net of impairment
Goodwill, net of impairment	7,400	1,626	1,626
Middle East/ Caucasus
Goodwill, gross
Goodwill, gross, beginning balance	0	0
Foreign currency translation	0	0
Acquired	0	0
Goodwill, gross, ending balance	0	0	0
Accumulated impairment
Accumulated goodwill impairment, beginning balance	0	0
Impairment expense	0	0
Accumulated goodwill impairment, ending balance	0	0	0
Goodwill, net of impairment
Goodwill, net of impairment	$ 0	$ 0	$ 0

RECAST - Narrative (Details)

RECAST - Narrative (Details) $ / shares in Units, $ in Thousands		12 Months Ended
	May 17, 2022 USD ($) company	Mar. 31, 2023 $ / shares	Mar. 31, 2022 company $ / shares	Mar. 31, 2021 $ / shares	Aug. 22, 2018 USD ($)
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Number of businesses acquired | company	2		2
Basic earnings per share, continuing operations (USD per share)		$ 3.29	$ 5.59	$ 2.19
Diluted earnings per share, continuing operations (USD per share)		3.24	5.59	2.19
Basic earnings per share, discontinued operations (USD per share)		0.21	(1.75)	0.37
Diluted earnings per share, discontinued operations (USD per share)		0.21	(1.75)	0.37
Earnings per common share - diluted (USD per share)		3.45	3.84	2.56
Earnings per common share - basic (USD per share)		$ 3.50	3.84	2.56
As previously reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Basic earnings per share, continuing operations (USD per share)			5.43	2.06
Diluted earnings per share, continuing operations (USD per share)			5.43	2.06
Basic earnings per share, discontinued operations (USD per share)			(1.75)
Diluted earnings per share, discontinued operations (USD per share)			(1.75)
Earnings per common share - diluted (USD per share)			3.67	2.43
Earnings per common share - basic (USD per share)			$ 3.67	$ 2.44
Freedom Insurance
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Business acquisition, percentage of outstanding shares acquired (in percent)	100%
Total purchase price | $	$ 13,977				$ 4,288
Freedom Life
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Business acquisition, percentage of outstanding shares acquired (in percent)	100%
Total purchase price | $	$ 12,611

RECAST - Condensed Consolidated

RECAST - Condensed Consolidated Balance Sheet (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 31, 2023	Feb. 28, 2023	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
ASSETS
Cash and cash equivalents (including $35,549 and $22,787 from related parties)			$ 225,464
Restricted cash (including $114,885 and $222,651 from related parties)			547,950
Trading securities	$ 2,412,556		1,158,377
Available-for-sale securities, at fair value	239,053		161,364
Margin lending, brokerage and other receivables, net (including $294,985 and $107,649 from related parties)	376,329		147,659
Loans issued	826,258		92,446
Fixed assets, net	54,017		17,823
Intangible assets, net	17,615		5,163
Goodwill, net of impairment	14,192		5,898	$ 7,697
Right-of-use asset	30,345		7,431
Insurance contract assets	13,785		5,712
Other assets, net (including $16,089 and $— from related party)			29,641
Assets held for sale	0		825,419
Total assets	5,084,558		3,230,347
LIABILITIES AND SHAREHOLDERS' EQUITY
Securities repurchase agreement obligations	1,517,416		840,224
Customer liabilities (including $130,210 and $325,904 from related parties)	1,925,247		765,628
Margin lending and trade payables (including $3,239 and $38,889 to related parties)	122,900		45,083
Liabilities from insurance activity	182,502		122,087
Current income tax liability	4,547		14,556
Securities sold, not yet purchased – at fair value	0		13,865	8,569
Debt securities issued	60,025		34,390
Lease liability	30,320		7,504
Liability arising from continuing involvement			6,447
Other liabilities			21,477
Liabilities held for sale	0		812,478
Total liabilities	4,313,822		2,683,739
Commitments and Contingent Liabilities (Note 31)	$ 0		$ 0
Preferred stock, par value (in dollars per share)	$ 0.001		$ 0.001
Preferred stock, authorized (in shares)	20,000,000		20,000,000
Preferred stock, issued (in shares)	0		0
Preferred stock, outstanding (in shares)	0		0
Common stock, par value (in dollars per share)	$ 0.001		$ 0.001
Common stock, authorized (in shares)	500,000,000		500,000,000
Common stock, issued (in shares)	59,659,191		59,542,212
Equity [Abstract]
Preferred stock - $0.001 par value; $20,000,000 shares authorized, no shares issued or outstanding	$ 0		$ 0
Common stock - $0.001 par value; 500,000,000 shares authorized; 59,659,191 and 59,542,212 shares issued and outstanding as of March 31, 2023 and March 31, 2022, respectively	59		59
Additional paid in capital	164,162		174,745
Retained earnings	647,064		441,924
Accumulated other comprehensive loss	(34,000)		(63,125)
TOTAL FRHC SHAREHOLDERS’ EQUITY	777,285		553,603
Non-controlling interest	(6,549)		(6,995)
TOTAL SHAREHOLDERS' EQUITY	770,736		546,608	$ 307,674	$ 149,369
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 5,084,558		3,230,347
Discontinued operations
ASSETS
Cash and cash equivalents (including $35,549 and $22,787 from related parties)		$ 593,953	428,480
Restricted cash (including $114,885 and $222,651 from related parties)		6,033	28,406
Trading securities		113,845	122,497
Margin lending, brokerage and other receivables, net (including $294,985 and $107,649 from related parties)		257,184	210,087
Loans issued		23,169	2,395
Other assets, net (including $16,089 and $— from related party)		32,398	33,554
Total assets		1,026,582	825,419
LIABILITIES AND SHAREHOLDERS' EQUITY
Securities repurchase agreement obligations		776,425	701,584
Customer liabilities (including $130,210 and $325,904 from related parties)		34,379	64,637
Debt securities issued		33,275	32,469
Other liabilities		16,385	13,788
Total liabilities		$ 860,464	812,478
As previously reported
ASSETS
Cash and cash equivalents (including $35,549 and $22,787 from related parties)			224,663
Restricted cash (including $114,885 and $222,651 from related parties)			547,950
Trading securities			1,080,982
Available-for-sale securities, at fair value			1
Margin lending, brokerage and other receivables, net (including $294,985 and $107,649 from related parties)			147,480
Loans issued			92,403
Fixed assets, net			17,387
Intangible assets, net			3,512
Goodwill, net of impairment			5,388
Right-of-use asset			6,747
Insurance contract assets			0
Other assets, net (including $16,089 and $— from related party)			19,351
Assets held for sale			825,419
Total assets			2,971,283
LIABILITIES AND SHAREHOLDERS' EQUITY
Securities repurchase agreement obligations			742,710
Customer liabilities (including $130,210 and $325,904 from related parties)			766,627
Margin lending and trade payables (including $3,239 and $38,889 to related parties)			45,082
Liabilities from insurance activity			0
Current income tax liability			14,556
Securities sold, not yet purchased – at fair value			13,865
Debt securities issued			34,390
Lease liability			6,785
Liability arising from continuing involvement			6,447
Other liabilities			20,668
Liabilities held for sale			812,478
Total liabilities			2,463,608
Commitments and Contingent Liabilities (Note 31)			0
Equity [Abstract]
Preferred stock - $0.001 par value; $20,000,000 shares authorized, no shares issued or outstanding			0
Common stock - $0.001 par value; 500,000,000 shares authorized; 59,659,191 and 59,542,212 shares issued and outstanding as of March 31, 2023 and March 31, 2022, respectively			59
Additional paid in capital			141,340
Retained earnings			426,563
Accumulated other comprehensive loss			(53,291)
TOTAL FRHC SHAREHOLDERS’ EQUITY			514,671
Non-controlling interest			(6,996)
TOTAL SHAREHOLDERS' EQUITY			507,675
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY			2,971,283
Revision of prior period, adjustment | FF Life acquisition
ASSETS
Cash and cash equivalents (including $35,549 and $22,787 from related parties)			1,429
Restricted cash (including $114,885 and $222,651 from related parties)			0
Trading securities			8,875
Available-for-sale securities, at fair value			161,363
Margin lending, brokerage and other receivables, net (including $294,985 and $107,649 from related parties)			172
Loans issued			43
Fixed assets, net			182
Intangible assets, net			1,490
Goodwill, net of impairment			359
Right-of-use asset			532
Insurance contract assets			3,555
Other assets, net (including $16,089 and $— from related party)			9,863
Assets held for sale			0
Total assets			187,863
LIABILITIES AND SHAREHOLDERS' EQUITY
Securities repurchase agreement obligations			47,690
Customer liabilities (including $130,210 and $325,904 from related parties)			0
Margin lending and trade payables (including $3,239 and $38,889 to related parties)			0
Liabilities from insurance activity			108,925
Current income tax liability			0
Securities sold, not yet purchased – at fair value			0
Debt securities issued			0
Lease liability			543
Liability arising from continuing involvement			0
Other liabilities			551
Liabilities held for sale			0
Total liabilities			157,709
Commitments and Contingent Liabilities (Note 31)			0
Equity [Abstract]
Preferred stock - $0.001 par value; $20,000,000 shares authorized, no shares issued or outstanding			0
Common stock - $0.001 par value; 500,000,000 shares authorized; 59,659,191 and 59,542,212 shares issued and outstanding as of March 31, 2023 and March 31, 2022, respectively			9,465
Additional paid in capital			0
Retained earnings			28,132
Accumulated other comprehensive loss			(7,444)
TOTAL FRHC SHAREHOLDERS’ EQUITY			30,153
Non-controlling interest			1
TOTAL SHAREHOLDERS' EQUITY			30,154
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY			187,863
Revision of prior period, adjustment | FF Life acquisition | Eliminations
ASSETS
Cash and cash equivalents (including $35,549 and $22,787 from related parties)			(917)
Restricted cash (including $114,885 and $222,651 from related parties)			0
Trading securities			0
Available-for-sale securities, at fair value			0
Margin lending, brokerage and other receivables, net (including $294,985 and $107,649 from related parties)			(34)
Loans issued			0
Fixed assets, net			0
Intangible assets, net			0
Goodwill, net of impairment			0
Right-of-use asset			0
Insurance contract assets			0
Other assets, net (including $16,089 and $— from related party)			0
Assets held for sale			0
Total assets			(951)
LIABILITIES AND SHAREHOLDERS' EQUITY
Securities repurchase agreement obligations			0
Customer liabilities (including $130,210 and $325,904 from related parties)			(917)
Margin lending and trade payables (including $3,239 and $38,889 to related parties)			0
Liabilities from insurance activity			0
Current income tax liability			0
Securities sold, not yet purchased – at fair value			0
Debt securities issued			0
Lease liability			0
Liability arising from continuing involvement			0
Other liabilities			(34)
Liabilities held for sale			0
Total liabilities			(951)
Commitments and Contingent Liabilities (Note 31)			0
Equity [Abstract]
Preferred stock - $0.001 par value; $20,000,000 shares authorized, no shares issued or outstanding			0
Common stock - $0.001 par value; 500,000,000 shares authorized; 59,659,191 and 59,542,212 shares issued and outstanding as of March 31, 2023 and March 31, 2022, respectively			(9,464)
Additional paid in capital			16,498
Retained earnings			(6,665)
Accumulated other comprehensive loss			(369)
TOTAL FRHC SHAREHOLDERS’ EQUITY			0
Non-controlling interest			0
TOTAL SHAREHOLDERS' EQUITY			0
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY			(951)
Revision of prior period, adjustment | FF Insurance acquisition
ASSETS
Cash and cash equivalents (including $35,549 and $22,787 from related parties)			371
Restricted cash (including $114,885 and $222,651 from related parties)			0
Trading securities			68,520
Available-for-sale securities, at fair value			0
Margin lending, brokerage and other receivables, net (including $294,985 and $107,649 from related parties)			61
Loans issued			0
Fixed assets, net			254
Intangible assets, net			161
Goodwill, net of impairment			151
Right-of-use asset			152
Insurance contract assets			2,157
Other assets, net (including $16,089 and $— from related party)			427
Assets held for sale			0
Total assets			72,254
LIABILITIES AND SHAREHOLDERS' EQUITY
Securities repurchase agreement obligations			49,824
Customer liabilities (including $130,210 and $325,904 from related parties)			0
Margin lending and trade payables (including $3,239 and $38,889 to related parties)			21
Liabilities from insurance activity			13,162
Current income tax liability			0
Securities sold, not yet purchased – at fair value			0
Debt securities issued			0
Lease liability			176
Liability arising from continuing involvement			0
Other liabilities			292
Liabilities held for sale			0
Total liabilities			63,475
Commitments and Contingent Liabilities (Note 31)			0
Equity [Abstract]
Preferred stock - $0.001 par value; $20,000,000 shares authorized, no shares issued or outstanding			0
Common stock - $0.001 par value; 500,000,000 shares authorized; 59,659,191 and 59,542,212 shares issued and outstanding as of March 31, 2023 and March 31, 2022, respectively			15,576
Additional paid in capital			0
Retained earnings			(4,812)
Accumulated other comprehensive loss			(1,985)
TOTAL FRHC SHAREHOLDERS’ EQUITY			8,779
Non-controlling interest			0
TOTAL SHAREHOLDERS' EQUITY			8,779
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY			72,254
Revision of prior period, adjustment | FF Insurance acquisition | Eliminations
ASSETS
Cash and cash equivalents (including $35,549 and $22,787 from related parties)			(82)
Restricted cash (including $114,885 and $222,651 from related parties)			0
Trading securities			0
Available-for-sale securities, at fair value			0
Margin lending, brokerage and other receivables, net (including $294,985 and $107,649 from related parties)			(20)
Loans issued			0
Fixed assets, net			0
Intangible assets, net			0
Goodwill, net of impairment			0
Right-of-use asset			0
Insurance contract assets			0
Other assets, net (including $16,089 and $— from related party)			0
Assets held for sale			0
Total assets			(102)
LIABILITIES AND SHAREHOLDERS' EQUITY
Securities repurchase agreement obligations			0
Customer liabilities (including $130,210 and $325,904 from related parties)			(82)
Margin lending and trade payables (including $3,239 and $38,889 to related parties)			(20)
Liabilities from insurance activity			0
Current income tax liability			0
Securities sold, not yet purchased – at fair value			0
Debt securities issued			0
Lease liability			0
Liability arising from continuing involvement			0
Other liabilities			0
Liabilities held for sale			0
Total liabilities			(102)
Commitments and Contingent Liabilities (Note 31)			0
Equity [Abstract]
Preferred stock - $0.001 par value; $20,000,000 shares authorized, no shares issued or outstanding			0
Common stock - $0.001 par value; 500,000,000 shares authorized; 59,659,191 and 59,542,212 shares issued and outstanding as of March 31, 2023 and March 31, 2022, respectively			(15,577)
Additional paid in capital			16,907
Retained earnings			(1,294)
Accumulated other comprehensive loss			(36)
TOTAL FRHC SHAREHOLDERS’ EQUITY			0
Non-controlling interest			0
TOTAL SHAREHOLDERS' EQUITY			0
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY			$ (102)

RECAST - Condensed Consolidat_2

RECAST - Condensed Consolidated Balance Sheet Shareholders' Equity (Details) - $ / shares	Mar. 31, 2023	Mar. 31, 2022
Accounting Changes and Error Corrections [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized (in shares)	20,000,000	20,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	500,000,000	500,000,000

RECAST - Condensed Consolidat_3

RECAST - Condensed Consolidated Statement of Operations and Other Comprehensive Income (Details) - USD ($) $ in Thousands	11 Months Ended	12 Months Ended
	Feb. 28, 2023	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Revenue:
Fee and commission income (including $199,235, $291,163 and $184,725 from related parties)		$ 327,215	$ 335,211	$ 216,008
Net gain on trading securities		71,084	155,252	28,807
Interest income		294,695	121,609	38,474
Insurance underwriting income		115,371	72,981	62,951
Net gain on foreign exchange operations		52,154	3,791	557
Total net (loss)/gain on derivatives		(64,826)	946	86
TOTAL REVENUE, NET		795,693	689,790	346,883
Expense:
Fee and commission expense (including $2,988, $16,307 and $20,291 from related parties)		65,660	85,909	70,537
Interest expense:		208,947	76,947	22,444
Insurance claims incurred, net of reinsurance		77,329	54,447	52,405
Payroll and bonuses		81,819	46,288	23,435
Professional services		17,006	12,682	4,430
Stock compensation expense		9,293	7,859	114
Advertising expense		14,059	11,916	6,971
General and administrative expense		59,971	23,533	11,118
Provision for impairment losses		29,119	2,502	1,590
Other expense/(income), net			4,014	2,034
TOTAL EXPENSE		559,755	326,097	195,078
NET INCOME BEFORE INCOME TAX		235,938	363,693	151,805
Income tax (expense)/benefit		(42,776)	(38,570)	(23,307)
INCOME FROM CONTINUING OPERATIONS		193,162	325,123	128,498
Income/(loss) before income tax (expense)/benefit of discontinued operations		68,160	(117,199)	28,518
Income tax benefit of discontinued operations			13,004	(6,735)
Income/(loss) from discontinued operations		12,424	(104,195)	21,783
NET INCOME		205,586	220,928	150,281
Less: Net income/(loss) attributable to non-controlling interest in subsidiary		446	(6,566)	631
NET INCOME ATTRIBUTABLE TO CONTROLLING INTEREST		205,140	227,494	149,650
Change in unrealized gain on investments available-for-sale, net of tax effect		1,431	(4,292)	(304)
Reclassification adjustment for net realized gain on available-for-sale investments disposed of in the period, net of tax effect			2,222	2,092
Foreign currency translation adjustments, net of tax effect		5,195	(20,622)	2,787
OTHER COMPREHENSIVE (LOSS)/INCOME			(22,692)	4,575
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS		234,711	198,236	154,856
Less: Comprehensive income/(loss) attributable to non-controlling interest in subsidiary		446	(6,566)	631
COMPREHENSIVE INCOME ATTRIBUTABLE TO CONTROLLING INTEREST		$ 234,265	204,802	154,225
Discontinued operations
Revenue:
Fee and commission income (including $199,235, $291,163 and $184,725 from related parties)	$ 77,109		69,742	52,780
Net gain on trading securities	22,045		(78,674)	20,275
Interest income	53,410		28,399	11,221
Net gain on foreign exchange operations	45,859		(39,672)	2,285
Total net (loss)/gain on derivatives	(44)		0	39
TOTAL REVENUE, NET	198,379		(20,205)	86,600
Expense:
Interest expense:	15,051		10,450	8,760
Payroll and bonuses	58,971		39,114	24,827
Professional services	620		467	239
Stock compensation expense	1,743		7,887	1,033
Advertising expense	14,945		7,085	1,881
General and administrative expense	26,031		18,476	14,001
Provision for impairment losses	10,467		7,988	7,122
Other expense/(income), net	825		4,748	174
TOTAL EXPENSE	130,219		96,994	58,082
NET INCOME BEFORE INCOME TAX	68,160		(117,199)	28,518
Income/(loss) from discontinued operations	$ 12,424		(104,195)	21,783
As previously reported
Revenue:
Fee and commission income (including $199,235, $291,163 and $184,725 from related parties)			335,444	215,996
Net gain on trading securities			156,345	25,911
Interest income			90,153	22,815
Insurance underwriting income			0	0
Net gain on foreign exchange operations			1,979	1,143
Total net (loss)/gain on derivatives			946	86
TOTAL REVENUE, NET			584,867	265,951
Expense:
Fee and commission expense (including $2,988, $16,307 and $20,291 from related parties)			73,243	65,978
Interest expense:			65,449	18,606
Insurance claims incurred, net of reinsurance			0	0
Payroll and bonuses			39,779	17,941
Professional services			12,123	3,980
Stock compensation expense			7,859	114
Advertising expense			10,059	5,027
General and administrative expense			18,744	8,391
Provision for impairment losses			2,206	1,517
Other expense/(income), net			1,312	(106)
TOTAL EXPENSE			230,774	121,448
NET INCOME BEFORE INCOME TAX			354,093	144,503
Income tax (expense)/benefit			(38,529)	(23,362)
INCOME FROM CONTINUING OPERATIONS			315,564	121,141
Income/(loss) before income tax (expense)/benefit of discontinued operations			(117,199)	28,518
Income tax benefit of discontinued operations			13,004	(6,735)
Income/(loss) from discontinued operations			(104,195)	21,783
NET INCOME			211,369	142,924
Less: Net income/(loss) attributable to non-controlling interest in subsidiary			(6,566)	631
NET INCOME ATTRIBUTABLE TO CONTROLLING INTEREST			217,935	142,293
Change in unrealized gain on investments available-for-sale, net of tax effect			0	0
Reclassification adjustment for net realized gain on available-for-sale investments disposed of in the period, net of tax effect			0	71
Foreign currency translation adjustments, net of tax effect			(17,245)	1,857
OTHER COMPREHENSIVE (LOSS)/INCOME			(17,245)	1,928
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS			194,124	144,852
Less: Comprehensive income/(loss) attributable to non-controlling interest in subsidiary			(6,566)	631
COMPREHENSIVE INCOME ATTRIBUTABLE TO CONTROLLING INTEREST			200,690	144,221
Revision of prior period, adjustment | FF Life acquisition
Revenue:
Fee and commission income (including $199,235, $291,163 and $184,725 from related parties)			0	0
Net gain on trading securities			(1,283)	966
Interest income			23,027	11,818
Insurance underwriting income			60,526	54,412
Net gain on foreign exchange operations			1,615	(443)
Total net (loss)/gain on derivatives			0	0
TOTAL REVENUE, NET			83,885	66,753
Expense:
Fee and commission expense (including $2,988, $16,307 and $20,291 from related parties)			12,289	4,383
Interest expense:			5,194	1,605
Insurance claims incurred, net of reinsurance			42,606	46,754
Payroll and bonuses			3,624	3,172
Professional services			106	148
Stock compensation expense			0	0
Advertising expense			0	119
General and administrative expense			3,516	1,304
Provision for impairment losses			0	73
Other expense/(income), net			2,708	2,359
TOTAL EXPENSE			70,043	59,917
NET INCOME BEFORE INCOME TAX			13,842	6,836
Income tax (expense)/benefit			(54)	8
INCOME FROM CONTINUING OPERATIONS			13,788	6,844
Income/(loss) before income tax (expense)/benefit of discontinued operations			0	0
Income tax benefit of discontinued operations			0	0
Income/(loss) from discontinued operations			0	0
NET INCOME			13,788	6,844
Less: Net income/(loss) attributable to non-controlling interest in subsidiary			0	0
NET INCOME ATTRIBUTABLE TO CONTROLLING INTEREST			13,788	6,844
Change in unrealized gain on investments available-for-sale, net of tax effect			(4,292)	(304)
Reclassification adjustment for net realized gain on available-for-sale investments disposed of in the period, net of tax effect			2,222	2,021
Foreign currency translation adjustments, net of tax effect			(2,014)	10,866
OTHER COMPREHENSIVE (LOSS)/INCOME			(4,084)	12,583
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS			9,704	19,427
Less: Comprehensive income/(loss) attributable to non-controlling interest in subsidiary			0	0
COMPREHENSIVE INCOME ATTRIBUTABLE TO CONTROLLING INTEREST			9,704	19,427
Revision of prior period, adjustment | FF Life acquisition | Eliminations
Revenue:
Fee and commission income (including $199,235, $291,163 and $184,725 from related parties)			0	0
Net gain on trading securities			0	0
Interest income			0	0
Insurance underwriting income			0	0
Net gain on foreign exchange operations			0	0
Total net (loss)/gain on derivatives			0	0
TOTAL REVENUE, NET			0	0
Expense:
Fee and commission expense (including $2,988, $16,307 and $20,291 from related parties)			0	0
Interest expense:			0	0
Insurance claims incurred, net of reinsurance			0	0
Payroll and bonuses			0	0
Professional services			0	0
Stock compensation expense			0	0
Advertising expense			0	0
General and administrative expense			0	0
Provision for impairment losses			0	0
Other expense/(income), net			0	0
TOTAL EXPENSE			0	0
NET INCOME BEFORE INCOME TAX			0	0
Income tax (expense)/benefit			0	0
INCOME FROM CONTINUING OPERATIONS			0	0
Income/(loss) before income tax (expense)/benefit of discontinued operations			0	0
Income tax benefit of discontinued operations			0	0
Income/(loss) from discontinued operations			0	0
NET INCOME			0	0
Less: Net income/(loss) attributable to non-controlling interest in subsidiary			0	0
NET INCOME ATTRIBUTABLE TO CONTROLLING INTEREST			0	0
Change in unrealized gain on investments available-for-sale, net of tax effect			0	0
Reclassification adjustment for net realized gain on available-for-sale investments disposed of in the period, net of tax effect			0	0
Foreign currency translation adjustments, net of tax effect			0	0
OTHER COMPREHENSIVE (LOSS)/INCOME			0	0
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS			0	0
Less: Comprehensive income/(loss) attributable to non-controlling interest in subsidiary			0	0
COMPREHENSIVE INCOME ATTRIBUTABLE TO CONTROLLING INTEREST			0	0
Revision of prior period, adjustment | FF Insurance acquisition
Revenue:
Fee and commission income (including $199,235, $291,163 and $184,725 from related parties)			83	188
Net gain on trading securities			190	1,930
Interest income			8,429	3,841
Insurance underwriting income			12,455	8,539
Net gain on foreign exchange operations			197	(143)
Total net (loss)/gain on derivatives			0	0
TOTAL REVENUE, NET			21,354	14,355
Expense:
Fee and commission expense (including $2,988, $16,307 and $20,291 from related parties)			693	352
Interest expense:			6,304	2,233
Insurance claims incurred, net of reinsurance			11,841	5,651
Payroll and bonuses			2,885	2,322
Professional services			453	302
Stock compensation expense			0	0
Advertising expense			1,857	1,944
General and administrative expense			1,273	1,314
Provision for impairment losses			296	0
Other expense/(income), net			(6)	(229)
TOTAL EXPENSE			25,596	13,889
NET INCOME BEFORE INCOME TAX			(4,242)	466
Income tax (expense)/benefit			13	47
INCOME FROM CONTINUING OPERATIONS			(4,229)	513
Income/(loss) before income tax (expense)/benefit of discontinued operations			0	0
Income tax benefit of discontinued operations			0	0
Income/(loss) from discontinued operations			0	0
NET INCOME			(4,229)	513
Less: Net income/(loss) attributable to non-controlling interest in subsidiary			0	0
NET INCOME ATTRIBUTABLE TO CONTROLLING INTEREST			(4,229)	513
Change in unrealized gain on investments available-for-sale, net of tax effect			0	0
Reclassification adjustment for net realized gain on available-for-sale investments disposed of in the period, net of tax effect			0	0
Foreign currency translation adjustments, net of tax effect			(1,363)	(9,936)
OTHER COMPREHENSIVE (LOSS)/INCOME			(1,363)	(9,936)
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS			(5,592)	(9,423)
Less: Comprehensive income/(loss) attributable to non-controlling interest in subsidiary			0	0
COMPREHENSIVE INCOME ATTRIBUTABLE TO CONTROLLING INTEREST			(5,592)	(9,423)
Revision of prior period, adjustment | FF Insurance acquisition | Eliminations
Revenue:
Fee and commission income (including $199,235, $291,163 and $184,725 from related parties)			(316)	(176)
Net gain on trading securities			0	0
Interest income			0	0
Insurance underwriting income			0	0
Net gain on foreign exchange operations			0	0
Total net (loss)/gain on derivatives			0	0
TOTAL REVENUE, NET			(316)	(176)
Expense:
Fee and commission expense (including $2,988, $16,307 and $20,291 from related parties)			(316)	(176)
Interest expense:			0	0
Insurance claims incurred, net of reinsurance			0	0
Payroll and bonuses			0
Professional services			0
Stock compensation expense			0
Advertising expense			0
General and administrative expense			0	(10)
Provision for impairment losses			0	0
Other expense/(income), net			0	10
TOTAL EXPENSE			(316)	(176)
NET INCOME BEFORE INCOME TAX			0	0
Income tax (expense)/benefit			0	0
INCOME FROM CONTINUING OPERATIONS			0	0
Income/(loss) before income tax (expense)/benefit of discontinued operations			0	0
Income tax benefit of discontinued operations			0	0
Income/(loss) from discontinued operations			0	0
NET INCOME			0	0
Less: Net income/(loss) attributable to non-controlling interest in subsidiary			0	0
NET INCOME ATTRIBUTABLE TO CONTROLLING INTEREST			0	0
Change in unrealized gain on investments available-for-sale, net of tax effect			0	0
Reclassification adjustment for net realized gain on available-for-sale investments disposed of in the period, net of tax effect			0	0
Foreign currency translation adjustments, net of tax effect			0	0
OTHER COMPREHENSIVE (LOSS)/INCOME			0	0
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS			0	0
Less: Comprehensive income/(loss) attributable to non-controlling interest in subsidiary			0	0
COMPREHENSIVE INCOME ATTRIBUTABLE TO CONTROLLING INTEREST			$ 0	$ 0

CASH AND CASH EQUIVALENTS - Sch

CASH AND CASH EQUIVALENTS - Schedule of cash and cash equivalents (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents (including $35,549 and $22,787 from related parties)	$ 581,417	$ 225,464	$ 168,804
Short term deposits in National Bank (Kazakhstan)
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents (including $35,549 and $22,787 from related parties)	357,454	42,517
Short term deposits in commercial banks
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents (including $35,549 and $22,787 from related parties)	83,755	70,156
Short term deposits on brokerage accounts
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents (including $35,549 and $22,787 from related parties)	37,417	71,060
Petty cash in bank vault and on hand
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents (including $35,549 and $22,787 from related parties)	35,998	18,607
Short term deposits in stock exchanges
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents (including $35,549 and $22,787 from related parties)	31,691	2,828
Securities purchased under reverse repurchase agreements
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents (including $35,549 and $22,787 from related parties)	29,812	19,947
Cash in transit
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents (including $35,549 and $22,787 from related parties)	3,364	35
Overnight deposits
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents (including $35,549 and $22,787 from related parties)	1,926	0
Short term deposits in the Central Depository (Kazakhstan)
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents (including $35,549 and $22,787 from related parties)	$ 0	$ 314

CASH AND CASH EQUIVALENTS - S_2

CASH AND CASH EQUIVALENTS - Schedule of collateralized securities received under reverse repurchase agreements (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining contractual maturity: up to 30 days	$ 1,456,776	$ 840,082
Total Contractual Maturity	1,517,416	840,224
Cash and Cash Equivalents
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining contractual maturity: up to 30 days	29,627	19,947
Remaining contractual maturity: 30 - 90 days	185	0
Total Contractual Maturity	$ 29,812	$ 19,947
US sovereign debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average Interest rate	1.52%	0.77%
Remaining contractual maturity: up to 30 days	$ 17,637	$ 7,396
Total Contractual Maturity	$ 17,637	$ 7,396
US sovereign debt | Cash and Cash Equivalents
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average Interest rate	2.06%	16.38%
Remaining contractual maturity: up to 30 days	$ 17,102	$ 9,952
Remaining contractual maturity: 30 - 90 days	0
Total Contractual Maturity	$ 17,102	$ 9,952
Corporate equity
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average Interest rate	12.24%	14%
Remaining contractual maturity: up to 30 days	$ 15,384	$ 388
Total Contractual Maturity	$ 15,384	$ 388
Corporate equity | Cash and Cash Equivalents
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average Interest rate	17.17%	16.90%
Remaining contractual maturity: up to 30 days	$ 6,963	$ 152
Remaining contractual maturity: 30 - 90 days	0	0
Total Contractual Maturity	$ 6,963	$ 152
Non-US sovereign debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average Interest rate	15.98%	10.85%
Remaining contractual maturity: up to 30 days	$ 826,196	$ 222,893
Total Contractual Maturity	$ 881,461	$ 222,893
Non-US sovereign debt | Cash and Cash Equivalents
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average Interest rate	6.12%	12.51%
Remaining contractual maturity: up to 30 days	$ 3,483	$ 9,786
Remaining contractual maturity: 30 - 90 days	0	0
Total Contractual Maturity	$ 3,483	$ 9,786
Corporate debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average Interest rate	16.07%	11.96%
Remaining contractual maturity: up to 30 days	$ 597,559	$ 609,405
Total Contractual Maturity	$ 602,934	$ 609,547
Corporate debt | Cash and Cash Equivalents
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average Interest rate	2.52%	11.88%
Remaining contractual maturity: up to 30 days	$ 2,079	$ 57
Remaining contractual maturity: 30 - 90 days	185	0
Total Contractual Maturity	$ 2,264	$ 57

CASH AND CASH EQUIVALENTS - Nar

CASH AND CASH EQUIVALENTS - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Cash and Cash Equivalents [Abstract]
Fair value of collateral received by the company under reverse repurchase agreements	$ 31,165	$ 19,911

RESTRICTED CASH (Details)

RESTRICTED CASH (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Cash and Cash Equivalents [Line Items]
Restricted cash (including $114,885 and $222,651 from related parties)	$ 445,528	$ 547,950
Brokerage customers' cash
Cash and Cash Equivalents [Line Items]
Restricted cash (including $114,885 and $222,651 from related parties)	328,435	531,032
Guaranty deposits
Cash and Cash Equivalents [Line Items]
Restricted cash (including $114,885 and $222,651 from related parties)	116,628	5,540
Deferred distribution payment
Cash and Cash Equivalents [Line Items]
Restricted cash (including $114,885 and $222,651 from related parties)	23	8,534
Restricted bank accounts
Cash and Cash Equivalents [Line Items]
Restricted cash (including $114,885 and $222,651 from related parties)	10,436	2,844
Allowance for restricted cash
Cash and Cash Equivalents [Line Items]
Restricted cash (including $114,885 and $222,651 from related parties)	$ 9,994	$ 0

RESTRICTED CASH - Narrative (De

RESTRICTED CASH - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Cash and Cash Equivalents [Line Items]
Guarantee deposits	$ 115,828	$ 3,260
Restricted cash (including $114,885 and $222,651 from related parties)	445,528	547,950
Deferred distribution payment
Cash and Cash Equivalents [Line Items]
Restricted cash (including $114,885 and $222,651 from related parties)	23	8,534
Restricted cash, written off	$ 8,378
Funds qualified for FDIC insurance
Cash and Cash Equivalents [Line Items]
Restricted cash (including $114,885 and $222,651 from related parties)		$ 23

TRADING AND AVAILABLE-FOR-SAL_3

TRADING AND AVAILABLE-FOR-SALE SECURITIES AT FAIR VALUE - Schedule of trading and available-for-sale securities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total trading securities	$ 2,412,556	$ 1,158,377
Total available-for-sale securities, at fair value	239,053	161,364
Corporate debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total trading securities	1,269,879	712,134
Total available-for-sale securities, at fair value	191,082	145,836
Non-US sovereign debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total trading securities	1,029,857	360,570
Total available-for-sale securities, at fair value	40,162	12,997
Corporate equity
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total trading securities	65,741	72,354
Total available-for-sale securities, at fair value	0	1
US sovereign debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total trading securities	45,022	10,435
Total available-for-sale securities, at fair value	7,809	2,530
Exchange traded notes
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total trading securities	$ 2,057	$ 2,884

TRADING AND AVAILABLE-FOR-SAL_4

TRADING AND AVAILABLE-FOR-SALE SECURITIES AT FAIR VALUE - Schedule of maturity of trading and available-for-sale securities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Debt Securities, Available-for-Sale [Line Items]
Total available-for-sale securities, at fair value	$ 239,053	$ 161,364
Corporate debt
Debt Securities, Available-for-Sale [Line Items]
Total available-for-sale securities, at fair value	191,082	145,836
Non-US sovereign debt
Debt Securities, Available-for-Sale [Line Items]
Total available-for-sale securities, at fair value	40,162	12,997
US sovereign debt
Debt Securities, Available-for-Sale [Line Items]
Total available-for-sale securities, at fair value	7,809	2,530
Corporate equity
Debt Securities, Available-for-Sale [Line Items]
Total available-for-sale securities, at fair value	0	1
Up to 1 year
Debt Securities, Available-for-Sale [Line Items]
Total available-for-sale securities, at fair value	78,953	71,056
Up to 1 year | Corporate debt
Debt Securities, Available-for-Sale [Line Items]
Total available-for-sale securities, at fair value	77,006	69,364
Up to 1 year | Non-US sovereign debt
Debt Securities, Available-for-Sale [Line Items]
Total available-for-sale securities, at fair value	0	1,692
Up to 1 year | US sovereign debt
Debt Securities, Available-for-Sale [Line Items]
Total available-for-sale securities, at fair value	1,947	0
Up to 1 year | Corporate equity
Debt Securities, Available-for-Sale [Line Items]
Total available-for-sale securities, at fair value		0
1-5 years
Debt Securities, Available-for-Sale [Line Items]
Total available-for-sale securities, at fair value	118,527	51,019
1-5 years | Corporate debt
Debt Securities, Available-for-Sale [Line Items]
Total available-for-sale securities, at fair value	82,579	50,155
1-5 years | Non-US sovereign debt
Debt Securities, Available-for-Sale [Line Items]
Total available-for-sale securities, at fair value	33,143	864
1-5 years | US sovereign debt
Debt Securities, Available-for-Sale [Line Items]
Total available-for-sale securities, at fair value	2,805	0
1-5 years | Corporate equity
Debt Securities, Available-for-Sale [Line Items]
Total available-for-sale securities, at fair value		0
5-10 years
Debt Securities, Available-for-Sale [Line Items]
Total available-for-sale securities, at fair value	34,031	27,370
5-10 years | Corporate debt
Debt Securities, Available-for-Sale [Line Items]
Total available-for-sale securities, at fair value	31,486	26,284
5-10 years | Non-US sovereign debt
Debt Securities, Available-for-Sale [Line Items]
Total available-for-sale securities, at fair value	820	1,086
5-10 years | US sovereign debt
Debt Securities, Available-for-Sale [Line Items]
Total available-for-sale securities, at fair value	1,725	0
5-10 years | Corporate equity
Debt Securities, Available-for-Sale [Line Items]
Total available-for-sale securities, at fair value		0
More than 10 years
Debt Securities, Available-for-Sale [Line Items]
Total available-for-sale securities, at fair value	7,542	11,919
More than 10 years | Corporate debt
Debt Securities, Available-for-Sale [Line Items]
Total available-for-sale securities, at fair value	11	33
More than 10 years | Non-US sovereign debt
Debt Securities, Available-for-Sale [Line Items]
Total available-for-sale securities, at fair value	6,199	9,355
More than 10 years | US sovereign debt
Debt Securities, Available-for-Sale [Line Items]
Total available-for-sale securities, at fair value	$ 1,332	2,530
More than 10 years | Corporate equity
Debt Securities, Available-for-Sale [Line Items]
Total available-for-sale securities, at fair value		$ 1

TRADING AND AVAILABLE-FOR-SAL_5

TRADING AND AVAILABLE-FOR-SALE SECURITIES AT FAIR VALUE - Narrative (Details) $ in Thousands	12 Months Ended
	Mar. 31, 2023 USD ($) issuer	Mar. 31, 2022 USD ($) issuer
Defined Benefit Plan Disclosure [Line Items]
Number of issuers | issuer	2	2
Kazakhstan Sustainability Fund JSC
Defined Benefit Plan Disclosure [Line Items]
Percentage of trading securities (in percent)	10%	10%
Debt Securities	$ 834,917	$ 488,560
Ministry of Finance of the Republic of Kazakhstan
Defined Benefit Plan Disclosure [Line Items]
Percentage of trading securities (in percent)	10%	10%
Debt Securities	$ 1,015,161	$ 357,343

TRADING AND AVAILABLE-FOR-SAL_6

TRADING AND AVAILABLE-FOR-SALE SECURITIES AT FAIR VALUE - Schedule of present securities assets at fair value (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total trading securities	$ 2,412,556	$ 1,158,377
Total available-for-sale securities, at fair value	239,053	161,364
Quoted Prices in Active Markets for Identical Assets (Level 1)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total trading securities	2,186,786	1,148,959
Total available-for-sale securities, at fair value	176,937	161,363
Significant Other Observable Inputs (Level 2)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total trading securities	220,632	276
Total available-for-sale securities, at fair value	62,116	0
Significant unobservable units (Level 3)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total trading securities	5,138	9,142
Total available-for-sale securities, at fair value	$ 0	$ 1
Corporate debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average interest rate (in percent)	15.62%	9.09%
Total trading securities	$ 1,269,879	$ 712,134
Total available-for-sale securities, at fair value	$ 191,082	$ 145,836
Corporate debt | Fair value, recurring
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total available-for-sale securities, Weighted average interest rate (in percent)	15.78%	11.09%
Total available-for-sale securities, at fair value	$ 191,082	$ 145,836
Corporate debt | Quoted Prices in Active Markets for Identical Assets (Level 1)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total trading securities	1,106,584	711,539
Corporate debt | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair value, recurring
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total available-for-sale securities, at fair value	129,504	145,836
Corporate debt | Significant Other Observable Inputs (Level 2)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total trading securities	162,895	0
Corporate debt | Significant Other Observable Inputs (Level 2) | Fair value, recurring
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total available-for-sale securities, at fair value	61,578	0
Corporate debt | Significant unobservable units (Level 3)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total trading securities	400	595
Corporate debt | Significant unobservable units (Level 3) | Fair value, recurring
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total available-for-sale securities, at fair value	$ 0	$ 0
Non-US sovereign debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average interest rate (in percent)	12.04%	13.15%
Total trading securities	$ 1,029,857	$ 360,570
Total available-for-sale securities, at fair value	$ 40,162	$ 12,997
Non-US sovereign debt | Fair value, recurring
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total available-for-sale securities, Weighted average interest rate (in percent)	13.64%	5.51%
Total available-for-sale securities, at fair value	$ 40,162	$ 12,997
Non-US sovereign debt | Quoted Prices in Active Markets for Identical Assets (Level 1)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total trading securities	971,762	352,274
Non-US sovereign debt | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair value, recurring
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total available-for-sale securities, at fair value	39,624	12,997
Non-US sovereign debt | Significant Other Observable Inputs (Level 2)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total trading securities	54,319	0
Non-US sovereign debt | Significant Other Observable Inputs (Level 2) | Fair value, recurring
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total available-for-sale securities, at fair value	538	0
Non-US sovereign debt | Significant unobservable units (Level 3)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total trading securities	3,776	8,296
Non-US sovereign debt | Significant unobservable units (Level 3) | Fair value, recurring
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total available-for-sale securities, at fair value	$ 0	$ 0
Corporate equity
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average interest rate (in percent)	0%	0%
Total trading securities	$ 65,741	$ 72,354
Total available-for-sale securities, at fair value	0	$ 1
Corporate equity | Fair value, recurring
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total available-for-sale securities, Weighted average interest rate (in percent)		0%
Total available-for-sale securities, at fair value		$ 1
Corporate equity | Quoted Prices in Active Markets for Identical Assets (Level 1)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total trading securities	62,971	71,827
Corporate equity | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair value, recurring
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total available-for-sale securities, at fair value		0
Corporate equity | Significant Other Observable Inputs (Level 2)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total trading securities	1,808	276
Corporate equity | Significant Other Observable Inputs (Level 2) | Fair value, recurring
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total available-for-sale securities, at fair value		0
Corporate equity | Significant unobservable units (Level 3)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total trading securities	$ 962	251
Corporate equity | Significant unobservable units (Level 3) | Fair value, recurring
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total available-for-sale securities, at fair value		$ 1
US sovereign debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average interest rate (in percent)	4.22%	2.35%
Total trading securities	$ 45,022	$ 10,435
Total available-for-sale securities, at fair value	$ 7,809	$ 2,530
US sovereign debt | Fair value, recurring
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total available-for-sale securities, Weighted average interest rate (in percent)	4.24%	2.17%
Total available-for-sale securities, at fair value	$ 7,809	$ 2,530
US sovereign debt | Quoted Prices in Active Markets for Identical Assets (Level 1)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total trading securities	45,022	10,435
US sovereign debt | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair value, recurring
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total available-for-sale securities, at fair value	7,809	2,530
US sovereign debt | Significant Other Observable Inputs (Level 2)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total trading securities	0	0
US sovereign debt | Significant Other Observable Inputs (Level 2) | Fair value, recurring
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total available-for-sale securities, at fair value	0	0
US sovereign debt | Significant unobservable units (Level 3)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total trading securities	0	0
US sovereign debt | Significant unobservable units (Level 3) | Fair value, recurring
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total available-for-sale securities, at fair value	$ 0	$ 0
Exchange traded notes
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average interest rate (in percent)	0%	0%
Total trading securities	$ 2,057	$ 2,884
Exchange traded notes | Quoted Prices in Active Markets for Identical Assets (Level 1)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total trading securities	447	2,884
Exchange traded notes | Significant Other Observable Inputs (Level 2)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total trading securities	1,610	0
Exchange traded notes | Significant unobservable units (Level 3)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total trading securities	$ 0	$ 0

TRADING AND AVAILABLE-FOR-SAL_7

TRADING AND AVAILABLE-FOR-SALE SECURITIES AT FAIR VALUE - Schedule of valuation techniques and significant level 3 inputs used in the valuation (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value	$ 5,138	$ 9,142
Corporate equity
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value	$ 961	$ 251
Fair value input (in percent)	58.80%	20%
Estimated number of years	9 years	9 years
Corporate debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value	$ 399	$ 595
Fair value input (in percent)	74%	45%
Estimated number of years	3 months	3 months
Non-US sovereign debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value	$ 3,778	$ 7,524
Fair value input (in percent)	48.80%	69%
Estimated number of years	11 years	11 years
Non-US sovereign debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value		$ 772
Fair value input (in percent)		13.90%
Estimated number of years		1 year

TRADING AND AVAILABLE-FOR-SAL_8

TRADING AND AVAILABLE-FOR-SALE SECURITIES AT FAIR VALUE - Schedule of reconciliation of the beginning and ending balance for investments that use Level 3 inputs (Details) - Trading securities - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Investments beginning	$ 9,142	$ 19,033
Reclassification to level 3		682
Reclassification to level 1		(18,371)
Reclassification to level 2	(1,339)
Sale of investments that use Level 3 inputs	(5,213)
Purchase of investments that use Level 3 inputs	2,604	10,812
Revaluation of investments that use Level 3 inputs	(56)	(3,014)
Investments ending	$ 5,138	$ 9,142

TRADING AND AVAILABLE-FOR-SAL_9

TRADING AND AVAILABLE-FOR-SALE SECURITIES AT FAIR VALUE - Schedule of amortized cost, unrealized gains and losses accumulated in other comprehensive income, and fair value of available-for-sale securities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Assets measured at amortized cost	$ 243,014	$ 162,808
Recognized impairment loss in Income Statement	(402)
Unrealized gain/(loss) accumulated in other comprehensive income/(loss)	(3,559)	(1,444)
Assets measured at fair value	239,053	161,364
Corporate debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Assets measured at amortized cost	192,167	146,111
Recognized impairment loss in Income Statement	(402)
Unrealized gain/(loss) accumulated in other comprehensive income/(loss)	(683)	(275)
Assets measured at fair value	191,082	145,836
Non-US sovereign debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Assets measured at amortized cost	42,456	13,784
Recognized impairment loss in Income Statement	0
Unrealized gain/(loss) accumulated in other comprehensive income/(loss)	(2,294)	(787)
Assets measured at fair value	40,162	12,997
U.S. sovereign debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Assets measured at amortized cost	8,391	2,912
Recognized impairment loss in Income Statement	0
Unrealized gain/(loss) accumulated in other comprehensive income/(loss)	(582)	(382)
Assets measured at fair value	$ 7,809	2,530
Corporate equity
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Assets measured at amortized cost		1
Unrealized gain/(loss) accumulated in other comprehensive income/(loss)		0
Assets measured at fair value		$ 1

MARGIN LENDING, BROKERAGE AND_3

MARGIN LENDING, BROKERAGE AND OTHER RECEIVABLES, NET - Schedule of brokerage and other receivables (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total margin lending, brokerage and other receivables, net	$ 376,329	$ 147,659
Margin lending receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total margin lending, brokerage and other receivables, net	361,684	138,983
Receivables from brokerage clients
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total margin lending, brokerage and other receivables, net	7,302	4,386
Bank commissions receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total margin lending, brokerage and other receivables, net	6,035	598
Receivable for underwriting and market-making services
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total margin lending, brokerage and other receivables, net	2,317	296
Long-term installments receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total margin lending, brokerage and other receivables, net	895	1,367
Dividends accrued
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total margin lending, brokerage and other receivables, net	486	45
Receivable from sale of securities
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total margin lending, brokerage and other receivables, net	613	884
Other receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total margin lending, brokerage and other receivables, net	9,504	3,207
Allowance for receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total margin lending, brokerage and other receivables, net	$ 12,507	$ 2,107

MARGIN LENDING, BROKERAGE AND_4

MARGIN LENDING, BROKERAGE AND OTHER RECEIVABLES, NET - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Securities loaned, fair value of collateral	$ 1,418,129	$ 4,432,621
Related party transaction, brokerage and other receivable due from related party	$ 290,195	$ 102,669
Brokerage and other receivables from Related party as a percentage of related party brokerage and other receivables	78%	73%
Lending margin receivable	$ 37,100
Total margin lending, brokerage and other receivables, net	376,329	$ 147,659
Allowance for receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total margin lending, brokerage and other receivables, net	$ 12,507	$ 2,107
FFIN Brokerage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Margin lending receivables from related party as a percentage of related party margin lending receivables	98%	95%

LOANS ISSUED (Details)

LOANS ISSUED (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Financing Receivable, Past Due [Line Items]
Amount Outstanding	$ (826,258)	$ (92,446)
Total loans issued (recasted)		92,446
Mortgage loan
Financing Receivable, Past Due [Line Items]
Amount Outstanding	$ (534,154)	$ (52,227)
Average interest rate (in percent)	9%	11.86%
Fair Value of Collateral	$ 534,154	$ 52,134
Right of claims for purchased retail loans
Financing Receivable, Past Due [Line Items]
Amount Outstanding	$ (121,177)	$ (35,293)
Average interest rate (in percent)	15%	15%
Fair Value of Collateral	$ 121,177	$ 35,293
Uncollateralized bank customer loans
Financing Receivable, Past Due [Line Items]
Amount Outstanding	$ (46,970)	$ (100)
Average interest rate (in percent)	25%	10%
Fair Value of Collateral		$ 0
Collateralized Bank customer loans
Financing Receivable, Past Due [Line Items]
Amount Outstanding	$ (17,653)
Average interest rate (in percent)	2%
Fair Value of Collateral	$ 17,636
Car loans
Financing Receivable, Past Due [Line Items]
Amount Outstanding	$ (102,269)
Average interest rate (in percent)	25%
Fair Value of Collateral	$ 102,247
Subordinated loan
Financing Receivable, Past Due [Line Items]
Amount Outstanding	$ (5,039)	$ (5,033)
Average interest rate (in percent)	3%	4.89%
Fair Value of Collateral	$ 0	$ 0
Subordinated loan
Financing Receivable, Past Due [Line Items]
Amount Outstanding		$ (1,256)
Average interest rate (in percent)		7%
Fair Value of Collateral		$ 0
Other
Financing Receivable, Past Due [Line Items]
Amount Outstanding	$ (300)	$ (123)
Average interest rate (in percent)	2%	2.50%
Fair Value of Collateral	$ 0	$ 0
Loans issued to policyholders
Financing Receivable, Past Due [Line Items]
Amount Outstanding	$ (1,488)	$ (43)
Average interest rate (in percent)	15%	12.02%
Fair Value of Collateral	$ 1,752	$ 284
Allowance for loans issued
Financing Receivable, Past Due [Line Items]
Amount Outstanding	$ (2,792)	$ (1,629)

LOANS ISSUED - Narrative (Detai

LOANS ISSUED - Narrative (Details) - USD ($)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Financing Receivable, Past Due [Line Items]
Debt, weighted average interest rate, period term	20 years
Liability arising from continuing involvement	$ 440,805,000	$ 6,447,000
Amount Outstanding	$ 826,258,000	92,446,000
Bank customer loans | State mortgage program "7-20-25"
Financing Receivable, Past Due [Line Items]
Debt, weighted average interest rate, over 20 year term	7%
Debt, weighted average interest rate, over 20 year term, transferred to program operator	4%
Debt, weighted average interest rate, over 20 year term, transferred to program operator, retained	3%
Amount Outstanding	$ 463,114	21,310
Right of claims for purchased retail loans
Financing Receivable, Past Due [Line Items]
Amount Outstanding	$ 121,177,000	$ 35,293,000

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net income before income tax	$ 235,938	$ 363,693	$ 151,805
Effective income tax rate (in percent)	(18.10%)	(10.60%)	(15.40%)
Undistributed earnings of foreign subsidiaries	$ 467,456
Tax losses carryforward	$ 1,548	$ 679
US
Accounts, Notes, Loans and Financing Receivable [Line Items]
Income tax rates used for deferred tax assets and liabilities (in percent)	21%	21%
Russia
Accounts, Notes, Loans and Financing Receivable [Line Items]
Income tax rates used for deferred tax assets and liabilities (in percent)	20%	20%
Azerbaijan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Income tax rates used for deferred tax assets and liabilities (in percent)	20%	20%
Kyrgyzstan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Income tax rates used for deferred tax assets and liabilities (in percent)	10%	10%
Germany
Accounts, Notes, Loans and Financing Receivable [Line Items]
Income tax rates used for deferred tax assets and liabilities (in percent)	31%	31%
Cyprus
Accounts, Notes, Loans and Financing Receivable [Line Items]
Income tax rates used for deferred tax assets and liabilities (in percent)	12.50%	12.50%
Tax losses carryforward	$ 12,384	$ 5,432
Ukraine
Accounts, Notes, Loans and Financing Receivable [Line Items]
Income tax rates used for deferred tax assets and liabilities (in percent)	18%	18%
United Kingdom
Accounts, Notes, Loans and Financing Receivable [Line Items]
Income tax rates used for deferred tax assets and liabilities (in percent)	25%	25%
Armenia
Accounts, Notes, Loans and Financing Receivable [Line Items]
Income tax rates used for deferred tax assets and liabilities (in percent)	18%	18%
Uzbekistan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Income tax rates used for deferred tax assets and liabilities (in percent)	15%	15%

INCOME TAXES - Schedule of defe

INCOME TAXES - Schedule of deferred tax assets and liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Deferred tax assets:
Revaluation on trading securities
Tax losses carryforward	1,548	679
Accrued liabilities	933	828
Provision for impairment losses	2,079	0
Stock compensation expenses	0	0
Deferred tax assets	4,560	1,507
Deferred tax liabilities:
Revaluation on trading securities	29	210
Fixed and Intangible Assets	2,457	0
Other liabilities	326	388
Deferred tax liabilities	2,812	598
Net deferred tax assets	2,442	909
Net deferred tax liabilities	$ 694	$ 0

INCOME TAXES - Schedule of fede

INCOME TAXES - Schedule of federal income taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income before income tax at 21%	$ 49,547	$ 76,376	$ 31,879
Global intangible low taxed income	39,139	31,194	18,451
Permanent differences	14,096	(2,567)	(2,160)
Subpart F Income	4,732	0	0
Stock based compensation	2,039	3,090	348
Provision for impairment losses	0	(13)	113
Valuation allowance	0	(316)	(361)
Foreign tax rate differential	(13,089)	(18,544)	(9,491)
Foreign tax credit	(18,423)	(16,200)	(10,155)
Nontaxable gains	(35,265)	(34,450)	(5,317)
Income tax expense	$ 42,776	$ 38,570	$ 23,307

INCOME TAXES - Schedule of inco

INCOME TAXES - Schedule of income tax expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Current income tax charge - Federal	$ 22,387	$ 15,184	$ 7,771
Current income tax charge - Foreign	21,406	27,381	14,040
Current income tax charge	43,793	42,565	21,811
Deferred income tax charge - Federal	(2,606)	(2,191)	1,752
Deferred income tax charge - Foreign	1,589	(1,804)	(256)
Deferred income tax charge	(1,017)	(3,995)	1,496
Income tax expense	$ 42,776	$ 38,570	$ 23,307

INCOME TAXES - Schedule of In_2

INCOME TAXES - Schedule of Income before Income tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Income Tax Examination [Line Items]
Net income before income tax	$ 235,938	$ 363,693	$ 151,805
United States
Income Tax Examination [Line Items]
Net income before income tax	(26,383)	(8,012)	1,076
Foreign
Income Tax Examination [Line Items]
Net income before income tax	$ 262,321	$ 371,705	$ 150,729

FIXED ASSETS, NET - Schedule of

FIXED ASSETS, NET - Schedule of fixed assets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Property, Plant and Equipment [Line Items]
Less: Accumulated depreciation	$ (9,320)	$ (5,236)
Total fixed assets, net	54,017	17,823
Buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	19,569	7,770
Office equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	11,004	4,633
Processing and storage data centers
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	10,793	3,729
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	9,106	1,564
Furniture
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	6,633	2,759
Capital expenditures on leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	3,288	1,239
Vehicles
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,516	643
Other
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,428	$ 722

FIXED ASSETS, NET - Narrative (

FIXED ASSETS, NET - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 4,083	$ 2,270	$ 2,118

INTANGIBLE ASSETS, NET - Schedu

INTANGIBLE ASSETS, NET - Schedule of intangible assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Goodwill [Line Items]
Gross Carrying Amount	$ 23,513	$ 10,007
Accumulated Amortization	5,898	4,844
Total intangible assets, net	17,615	5,163
For year ended 31.03.2023	1,054	1,146	$ 570
For year ended 31.03.2024	2,115
For year ended 31.03.2025	1,809
For year ended 31.03.2026	1,555
For year ended 31.03.2027	1,194
For year ended 31.03.2028	1,118
Client base
Goodwill [Line Items]
Gross Carrying Amount	5,264	1,843
Accumulated Amortization	1,707	1,504
Software
Goodwill [Line Items]
Gross Carrying Amount	6,140	1,898
Accumulated Amortization	992	572
Value added business
Goodwill [Line Items]
Gross Carrying Amount	5,058	3,643
Accumulated Amortization	2,355	2,257
Licenses
Goodwill [Line Items]
Gross Carrying Amount	4,977	2,574
Accumulated Amortization	489	509
Other intangible assets
Goodwill [Line Items]
Gross Carrying Amount	2,074	49
Accumulated Amortization	$ 355	$ 2

INTANGIBLE ASSETS, NET - Narrat

INTANGIBLE ASSETS, NET - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 1,054	$ 1,146	$ 570

OTHER ASSETS, NET (Details)

OTHER ASSETS, NET (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Property, Plant and Equipment [Line Items]
Total other assets	$ 73,463	$ 29,641
Allowance for other assets	0	0
Other assets, net (including $16,089 and $— from related party)	73,463	29,641
Prepayments on future acquisitions
Property, Plant and Equipment [Line Items]
Total other assets	23,428	4,069
Current income tax asset
Property, Plant and Equipment [Line Items]
Total other assets	1,529	2,497
Advances paid
Property, Plant and Equipment [Line Items]
Total other assets	12,553	4,340
Deferred acquisition costs
Property, Plant and Equipment [Line Items]
Total other assets	17,495	9,617
Taxes other than income taxes
Property, Plant and Equipment [Line Items]
Total other assets	5,908	1,697
Investments in joint ventures and associated companies
Property, Plant and Equipment [Line Items]
Total other assets	4,000	0
Rent guarantee deposit
Property, Plant and Equipment [Line Items]
Total other assets	363	759
Deferred tax assets
Property, Plant and Equipment [Line Items]
Total other assets	2,442	909
Due from financial institutions
Property, Plant and Equipment [Line Items]
Total other assets	0	4,763
Other
Property, Plant and Equipment [Line Items]
Total other assets	$ 5,745	$ 990

SECURITIES REPURCHASE AGREEME_3

SECURITIES REPURCHASE AGREEMENT OBLIGATIONS - Schedule of trading securities including collateralized securities subject to repurchase agreements (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining contractual maturity: up to 30 days	$ 1,456,776	$ 840,082
Remaining contractual maturity: 30 - 90 days	60,640	142
Remaining contractual maturity: Over 90 days	0	0
Total Contractual Maturity	$ 1,517,416	$ 840,224
Corporate debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average interest rate (in percent)	16.07%	11.96%
Remaining contractual maturity: up to 30 days	$ 597,559	$ 609,405
Remaining contractual maturity: 30 - 90 days	5,375	142
Remaining contractual maturity: Over 90 days	0	0
Total Contractual Maturity	$ 602,934	$ 609,547
Non-US sovereign debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average interest rate (in percent)	15.98%	10.85%
Remaining contractual maturity: up to 30 days	$ 826,196	$ 222,893
Remaining contractual maturity: 30 - 90 days	55,265	0
Remaining contractual maturity: Over 90 days	0	0
Total Contractual Maturity	$ 881,461	$ 222,893
US sovereign debt
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average interest rate (in percent)	1.52%	0.77%
Remaining contractual maturity: up to 30 days	$ 17,637	$ 7,396
Remaining contractual maturity: 30 - 90 days	0	0
Remaining contractual maturity: Over 90 days	0	0
Total Contractual Maturity	$ 17,637	$ 7,396
Corporate equity
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average interest rate (in percent)	12.24%	14%
Remaining contractual maturity: up to 30 days	$ 15,384	$ 388
Remaining contractual maturity: 30 - 90 days	0	0
Remaining contractual maturity: Over 90 days	0	0
Total Contractual Maturity	$ 15,384	$ 388

SECURITIES REPURCHASE AGREEME_4

SECURITIES REPURCHASE AGREEMENT OBLIGATIONS - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Securities Sold under Agreements to Repurchase [Abstract]
Fair value of collateral pledged under repurchase agreements	$ 1,519,926	$ 834,751

CUSTOMER LIABILITIES - Schedule

CUSTOMER LIABILITIES - Schedule of customer liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Interest-bearing deposits:
Term deposits	$ 832,751	$ 164,837
Non-interest-bearing deposits:
Total non-interest-bearing deposits	1,092,496	600,791
Total Interest-bearing deposits	1,925,247	765,628
Term deposits
Interest-bearing deposits:
Term deposits	$ 832,751	$ 164,837
Minimum | Term deposits
Interest-bearing deposits:
Interest rate	0.10%	0.01%
Maximum | Term deposits
Interest-bearing deposits:
Interest rate	16.90%	14.30%
Current customer accounts
Non-interest-bearing deposits:
Total non-interest-bearing deposits	$ 458,954	$ 81,447
Brokerage customers
Non-interest-bearing deposits:
Total non-interest-bearing deposits	$ 633,542	$ 519,344

CUSTOMER LIABILITIES - Narrativ

CUSTOMER LIABILITIES - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Revenue, Major Customer [Line Items]
Customer liabilities (including $130,210 and $325,904 from related parties)	$ 1,925,247	$ 765,628
JSC Kazakhstan Deposit Insurance Fund
Revenue, Major Customer [Line Items]
Customer liabilities (including $130,210 and $325,904 from related parties)	44
Insured bank deposits	$ 539,411	$ 51,818

MARGIN LENDING AND TRADE PAYA_3

MARGIN LENDING AND TRADE PAYABLES - Schedule of Trade Payables (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Regulatory Liabilities [Line Items]
Total margin lending and trades payables	$ 122,900	$ 45,083
Margin lending payable
Regulatory Liabilities [Line Items]
Total margin lending and trades payables	117,144	39,250
Payables to suppliers of goods and services
Regulatory Liabilities [Line Items]
Total margin lending and trades payables	2,965	4,463
Trade payable for securities purchased
Regulatory Liabilities [Line Items]
Total margin lending and trades payables	482	462
Other
Regulatory Liabilities [Line Items]
Total margin lending and trades payables	$ 2,309	$ 908

MARGIN LENDING AND TRADE PAYA_4

MARGIN LENDING AND TRADE PAYABLES - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Related Party Transaction [Line Items]
Margin loans, fair value of collateral	$ 164,861	$ 403,543
Total margin lending, brokerage and other receivables, net	376,329	147,659
Margin lending receivables
Related Party Transaction [Line Items]
Total margin lending, brokerage and other receivables, net	361,684	138,983
Related party
Related Party Transaction [Line Items]
Margin lending payables	$ 3,239	$ 38,889
Trade payables due (in percent)	3%	86%

SECURITIES SOLD, NOT YET PURC_2

SECURITIES SOLD, NOT YET PURCHASED AT FAIR VALUE - Reconciliation of securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Securities sold, not yet purchased at fair value, beginning balance	$ 13,865	$ 8,569
Short sales	394	7,055
Repurchase	(15,650)	(346)
Net gain on trading securities	1,391	(1,413)
Securities sold, not yet purchased at fair value, ending balance	$ 0	$ 13,865

DEBT SECURITIES ISSUED - Schedu

DEBT SECURITIES ISSUED - Schedule of outstanding debt securities of company (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Debt Instrument [Line Items]
Debt securities issued	$ 60,025	$ 34,390
Freedom SPC
Debt Instrument [Line Items]
Debt securities issued	58,582	13,200
Freedom Holding Corp.
Debt Instrument [Line Items]
Debt securities issued	0	20,500
Accrued interest
Debt Instrument [Line Items]
Debt securities issued	$ 1,443	$ 690

DEBT SECURITIES ISSUED - Narrat

DEBT SECURITIES ISSUED - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Debt Instrument [Line Items]
Debt securities issued	$ 60,025		$ 34,390
FRHC Loan
Debt Instrument [Line Items]
Fixed annual coupon rates (in percent)	5.50%
Freedom SPC
Debt Instrument [Line Items]
Debt securities issued	$ 58,582		$ 13,200
Minimum
Debt Instrument [Line Items]
Fixed annual coupon rates (in percent)	5.50%
Maximum
Debt Instrument [Line Items]
Fixed annual coupon rates (in percent)	7%	7%

INSURANCE CONTRACTS ASSETS AN_3

INSURANCE CONTRACTS ASSETS AND LIABILITIES FROM INSURANCE ACTIVITIES - Schedule of Insurance Receivables (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Effects of Reinsurance [Line Items]
Less provision for impairment losses	$ (1,325)	$ (343)
Insurance and reinsurance receivables:	10,016	3,949
Unearned premium reserve, reinsurers’ share	2,379	143
Reserves for claims and claims’ adjustment expenses, reinsurers’ share	1,390	1,620
Insurance contract assets	13,785	5,712
Amounts due from policyholders
Effects of Reinsurance [Line Items]
Insurance and reinsurance receivable, gross	9,699	3,500
Claims receivable from reinsurance
Effects of Reinsurance [Line Items]
Insurance and reinsurance receivable, gross	1,087	769
Amounts due from reinsured
Effects of Reinsurance [Line Items]
Insurance and reinsurance receivable, gross	$ 555	$ 23

INSURANCE CONTRACTS ASSETS AN_4

INSURANCE CONTRACTS ASSETS AND LIABILITIES FROM INSURANCE ACTIVITIES - Schedule of Insurance Payables (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Effects of Reinsurance [Line Items]
Insurance and reinsurance payables:	$ 6,275	$ 3,068
Unearned premium reserve	43,082	17,985
Reserves for claims and claims’ adjustment expenses	133,145	101,034
Liabilities from insurance activity	182,502	122,087
Amounts payable to reinsurers
Effects of Reinsurance [Line Items]
Insurance and reinsurance payables:	2,002	402
Amounts payable to insured
Effects of Reinsurance [Line Items]
Insurance and reinsurance payables:	1,807	685
Amounts payable to agents and brokers
Effects of Reinsurance [Line Items]
Insurance and reinsurance payables:	$ 2,466	$ 1,981

OTHER LIABILITIES (Details)

OTHER LIABILITIES (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Risks and Uncertainties [Abstract]
Salaries and other employee benefits	$ 4,970	$ 2,120
Payable to suppliers	3,623	3,308
Vacation reserve	3,261	1,400
Taxes payable other than income tax	2,782	567
Net deferred tax liabilities	694	0
Deferred distribution payments	156	8,534
Loans received	1	3,538
Outstanding settlements operations	0	292
Other	7,385	1,718
Other liabilities	$ 22,872	$ 21,477

FEE AND COMMISSION INCOME (Deta

FEE AND COMMISSION INCOME (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Schedule of Fee and Commission income [Line Items]
Brokerage services	$ 286,732	$ 318,698	$ 204,244
Bank services	17,964	6,727	523
Underwriting and market-making services	11,948	5,963	6,451
Other fee and commission income	10,571	3,823	4,790
Fee and commission income (including $199,235, $291,163 and $184,725 from related parties)	327,215	335,211	216,008
Central Asia and Eastern Europe
Schedule of Fee and Commission income [Line Items]
Brokerage services	68,224	7,908	8,803
Bank services	17,964	6,727	523
Underwriting and market-making services	11,538	5,963	6,451
Other fee and commission income	9,256	3,054	4,790
Fee and commission income (including $199,235, $291,163 and $184,725 from related parties)	106,982	23,652	20,567
Europe, excluding Eastern Europe
Schedule of Fee and Commission income [Line Items]
Brokerage services	214,093	306,245	194,311
Bank services	0	0	0
Underwriting and market-making services	0	0	0
Other fee and commission income	1,315	769	0
Fee and commission income (including $199,235, $291,163 and $184,725 from related parties)	215,408	307,014	194,311
US
Schedule of Fee and Commission income [Line Items]
Brokerage services	4,415	4,545	1,130
Bank services	0	0	0
Underwriting and market-making services	410	0	0
Other fee and commission income	0	0	0
Fee and commission income (including $199,235, $291,163 and $184,725 from related parties)	4,825	4,545	1,130
Middle East/ Caucasus
Schedule of Fee and Commission income [Line Items]
Fee and commission income (including $199,235, $291,163 and $184,725 from related parties)	$ 0	$ 0	$ 0

NET GAIN ON TRADING SECURITIE_2

NET GAIN ON TRADING SECURITIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Net unrealized gain/(loss) recognized during the reporting period on trading securities still held at the reporting date	$ 107,310	$ (50,987)	$ 8,672
Net (loss)/gain recognized during the period on trading securities sold during the period	(36,226)	206,239	20,135
Net gain recognized during the period on trading securities	$ 71,084	$ 155,252	$ 28,807

NET GAIN ON TRADING SECURITIE_3

NET GAIN ON TRADING SECURITIES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Debt Securities, Available-for-Sale [Line Items]
Equity securities FVNI portfolio shares SPBX	$ 478	$ 18,408	$ 11,259
Number of equity shares exchanged (in shares)	7,500,000
Debt securities, trading, realized gain (loss)	$ 36,226	(206,239)	(20,135)
Debt Securities, Trading, Unrealized Gain (Loss)	(107,310)	50,987	(8,672)
Net gain on trading securities	71,084	$ 155,252	$ 28,807
SBPX Shares
Debt Securities, Available-for-Sale [Line Items]
Debt securities, trading, realized gain (loss)	73,384
Debt Securities, Trading, Unrealized Gain (Loss)	$ 50,785

NET INTEREST INCOME_ (EXPENSE_2

NET INTEREST INCOME/ (EXPENSE) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Interest income:
Interest income on trading securities	$ 178,288	$ 78,327	$ 21,913
Interest income on margin lending	34,558	14,164	3,163
Interest income on loans issued	43,486	4,617	384
Interest income on available-for-sale securities	27,003	22,437	11,238
Interest income on cash and cash equivalents and restricted cash	9,836	1,658	1,630
Interest income from dividends	1,524	406	146
Total interest income	294,695	121,609	38,474
Interest expense:	208,947	76,947	22,444
Interest expense on securities repurchase agreement obligations	158,595	58,229	10,915
Interest expense on customer liabilities	40,335	16,336	7,335
Interest expense on margin lending payable	6,635	0	0
Interest expense on debt securities issued	3,085	1,822	4,034
Interest expense on loans received	290	539	151
Other interest expense	7	21	9
Interest expense	208,947	76,947	22,444
Interest Income (Expense), Net	$ 85,748	$ 44,662	$ 16,030

NET GAIN_(LOSS) ON FOREIGN EX_3

NET GAIN/(LOSS) ON FOREIGN EXCHANGE OPERATIONS (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Research and Development [Abstract]
Sales and purchases of foreign currency, dealing	$ 45,963	$ (4,057)	$ 609
Translation of financial assets and financial liabilities	6,191	7,848	(52)
Total net gain on foreign exchange operations	$ 52,154	$ 3,791	$ 557

NET (LOSS)_GAIN ON DERIVATIVE_2

NET (LOSS)/GAIN ON DERIVATIVES (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Net realized (loss)/gain on derivatives	$ (64,838)	$ 946	$ 86
Unrealized (gain)/loss on derivatives	12	0	0
Total net (loss)/gain on derivatives	$ (64,826)	$ 946	$ 86

NET (LOSS)_GAIN ON DERIVATIVE_3

NET (LOSS)/GAIN ON DERIVATIVES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Derivative [Line Items]
Gain (loss) on derivative	$ 64,826	$ (946)	$ (86)
Freedom Bank KZ
Derivative [Line Items]
Gain (loss) on derivative	$ 65,303

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) $ in Thousands		1 Months Ended	12 Months Ended
	May 17, 2022 company	Jul. 31, 2021 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($) company	Mar. 31, 2021 USD ($)
Fair Value, Separate Account Investment [Line Items]
Fee and commission income (including $199,235, $291,163 and $184,725 from related parties)			$ 327,215	$ 335,211	$ 216,008
Proportion of fee and commission income to related party commission income			99%	94%	36%
Interest income, related parties			$ 294,695	$ 121,609	$ 38,474
Margin lending, brokerage and other receivables, related parties			376,329	147,659
Bank commission receivables form brokerage client from related parties			626	244
Margin lending and trade payables, related parties			122,900	$ 45,083
Number of businesses acquired | company	2			2
Prepayment on acquisitions			22,462	$ 0	$ 0
Commission expenses			130,210	325,904
Loans issued (including $121,177 and $35,293 from related party)			$ 826,258	$ 92,446
Cash and cash equivalents due to Wisdompoint Capital LTD			100%	100%
Ownership interest sold during the period (in percent)		23.88%
Proceeds from issuance or sale of equity		$ 415
Freedom UA
Fair Value, Separate Account Investment [Line Items]
Ownership percentage, controlling interest (in percent)		9%
FFIN Brokerage
Fair Value, Separate Account Investment [Line Items]
Percentage of interest income, related party			100%	100%	97%
Margin lending receivables from related party as a percentage of related party margin lending receivables			98%	95%
Other liabilities from related party as a percentage of related party other liabilities			18%	75%
Restricted cash from related party as a percentage of related party restricted cash			40%	78%
Wisdompoint Capital LTD
Fair Value, Separate Account Investment [Line Items]
Percentage of interest income, related party			100%	100%
Other liabilities from related party as a percentage of related party other liabilities			25%	6%
Restricted cash from related party as a percentage of related party restricted cash			60%	22%
Freedom Life
Fair Value, Separate Account Investment [Line Items]
Customer liabilities on brokerage and bank accounts				$ 21,477
Freedom Insurance
Fair Value, Separate Account Investment [Line Items]
Customer liabilities on brokerage and bank accounts				21,477
Related party
Fair Value, Separate Account Investment [Line Items]
Margin lending, brokerage and other receivables, related parties			$ 294,985	107,649
Margin lending and trade payables, related parties			3,239	38,889
Loans issued (including $121,177 and $35,293 from related party)			121,177	35,293
Cash and cash equivalents			$ 35,549	$ 22,787
Fresh Start Trading
Fair Value, Separate Account Investment [Line Items]
Other liabilities from related party as a percentage of related party other liabilities			36%	17%
Internet Tourism LLP and Aviata.LLP
Fair Value, Separate Account Investment [Line Items]
Prepayment on acquisitions			$ 16,089
Brokerage accounts
Fair Value, Separate Account Investment [Line Items]
Restricted customer cash			$ 114,885	$ 222,651

STOCKHOLDERS_ EQUITY (Details)

STOCKHOLDERS’ EQUITY (Details) $ in Thousands								1 Months Ended	12 Months Ended
	Mar. 10, 2023 shares	Oct. 20, 2022 shares	Oct. 11, 2022 shares	Oct. 06, 2022 shares	May 17, 2022 company	Mar. 30, 2022 individual shares	May 18, 2021 issuer individual shares	May 31, 2022 USD ($) company	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock grants (in shares) | shares	18,974	8,000	18,242	20,000		7,500	1,031,500
Number of companies acquired | company					2			2
Acquisition of insurance companies | $									$ 26,588
Capital contribution | $									677	$ 24,417	$ 1,667
Number of individuals						1	56
Stock based compensation | $									11,038	15,746	1,147
Freedom Life
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Business acquisition, percentage of voting interests acquired (in percentage)								100%
Freedom Insurance
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Business acquisition, percentage of voting interests acquired (in percentage)								100%
Additional paid in capital
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Acquisition of insurance companies | $								$ 26,588	26,588
Capital contribution | $									677	24,417	1,667
Stock based compensation | $									11,038	15,745	$ 1,147
Additional paid in capital | Timur Turlov
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Capital contribution | $									$ 677	$ 24,417
Executive officers
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of individuals | individual							2
Share-based payment arrangement, tranche one
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock grants (in shares) | shares				4,000		3,000	200,942
Vesting period (in years)							1 year
Share-based payment arrangement, tranche two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock grants (in shares) | shares				4,000		1,500	211,658
Vesting period (in years)							2 years
Share-based payment arrangement, tranche three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock grants (in shares) | shares				4,000		1,500	206,300
Vesting period (in years)							4 years
Share-based payment arrangement, tranche three | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)							3 years
Share-based payment arrangement, tranche three | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)							5 years
Share Based Payment Arrangement Tranche Four Member
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock grants (in shares) | shares				4,000
Share Based Payment Arrangement Tranche Five
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock grants (in shares) | shares				4,000
Share Based Compensation Award Tranche Four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock grants (in shares) | shares						1,500

STOCK BASED COMPENSATIONS - Nar

STOCK BASED COMPENSATIONS - Narrative (Details) - USD ($) $ in Thousands							12 Months Ended
	Mar. 10, 2023	Oct. 20, 2022	Oct. 11, 2022	Oct. 06, 2022	Mar. 30, 2022	May 18, 2021	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock grants (in shares)	18,974	8,000	18,242	20,000	7,500	1,031,500
Stock based compensation							$ 11,038	$ 15,746	$ 1,147
Unrecognized compensation cost							$ 8,133
Weighted average period (in years)							3.07 years
Restricted stock grants							$ 2,880	0
Share-based compensation arrangement by award, percentage							20%
Additional paid in capital
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation							$ 11,038	$ 15,745	$ 1,147
Restricted stock grants							$ 8,158
Share-based payment arrangement, tranche one
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock grants (in shares)				4,000	3,000	200,942
Vesting period (in years)						1 year
Share-based payment arrangement, tranche two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock grants (in shares)				4,000	1,500	211,658
Vesting period (in years)						2 years

STOCK BASED COMPENSATIONS - Sch

STOCK BASED COMPENSATIONS - Schedule of fair value of such stock options using the Monte Carlo and Black-Scholes option valuation (Details) - Monte Carlo valuation model	12 Months Ended
	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term (years)	3 years 7 months 13 days
Volatility (in percent)	35.10%
Risk-free rate (in percent)	4.18%

STOCK BASED COMPENSATIONS - S_2

STOCK BASED COMPENSATIONS - Schedule of the activity of the company's restricted stock outstanding (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Shares
Restricted stock outstanding, beginning balance (in shares)	1,049,500
Granted (in shares)	65,216
Vested (in shares)	(274,158)
Forfeited/cancelled/expired (in shares)	(373,500)
Restricted stock outstanding, ending balance (in shares)	467,058
Weighted Average Fair Value
Weighted average fair value, beginning balance		$ 40,303
Granted	$ 3,506
Vested	(11,484)
Forfeited/cancelled/expired	(14,290)
Weighted average fair value, ending balance	$ 18,035

LEASES - Disclosure of operatin

LEASES - Disclosure of operating lease assets and liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Assets and Liabilities, Lessee [Abstract]
Right-of-use asset	$ 30,345	$ 7,431
Lease liability	$ 30,320	$ 7,504

LEASES - Schedule of lease obli

LEASES - Schedule of lease obligations (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Operating Leases, Future Minimum Payments Receivable [Abstract]
2024	$ 9,413
2025	7,971
2026	7,543
2027	6,629
2028	4,766
Thereafter	4,199
Total payments	40,521
Less: amounts representing interest	(10,201)
Lease liability	$ 30,320	$ 7,504
Weighted average remaining lease term (in months)	21 months
Weighted average discount rate (in percent)	13%

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Short term operating lease	$ 457
Rent expense for office space	$ 2,038	$ 1,026	$ 624

ACQUISITIONS OF SUBSIDIARIES -

ACQUISITIONS OF SUBSIDIARIES - Narrative (Details) $ in Thousands		1 Months Ended
	May 17, 2022 USD ($) company	May 31, 2022 company	Mar. 02, 2023 USD ($)	Feb. 10, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 01, 2022 USD ($)	Aug. 22, 2018 USD ($)	Feb. 28, 2018 USD ($)
Business Acquisition [Line Items]
Number of companies acquired | company	2	2
Freedom Insurance
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	$ 13,977						$ 4,288
Net assets acquired	4,101						$ 4,101
Business acquisition, percentage of voting interests acquired (in percentage)		100%
Freedom Life
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	$ 12,611
Net assets acquired								$ 12,076
Business acquisition, percentage of voting interests acquired (in percentage)		100%
London Almaty
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net						$ 16,343
Net assets acquired						$ 15,858
Business acquisition, percentage of voting interests acquired (in percentage)						100%
Ticketon
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net					$ 3,004
Net assets acquired					$ 1,233
Business acquisition, percentage of voting interests acquired (in percentage)					100%
Paybox
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net					$ 11,659
Net assets acquired				$ 11,659	$ 11,659
L.D. Micro
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net			$ 8,300
Net assets acquired			$ 2,526

ACQUISITIONS OF SUBSIDIARIES _2

ACQUISITIONS OF SUBSIDIARIES - Schedule of purchase price of acquisition (Details) - USD ($) $ in Thousands	Feb. 28, 2018	Mar. 31, 2023	Mar. 02, 2023	Feb. 10, 2023	Sep. 30, 2022	Sep. 01, 2022	May 17, 2022	Mar. 31, 2022	Mar. 31, 2021	Aug. 22, 2018
LIABILITIES
Goodwill, net of impairment		$ 14,192						$ 5,898	$ 7,697
Freedom Life
ASSETS
Cash and cash equivalents	$ 3,494
Due from banks	2,514
Loans issued	2
Assets from insurance activity	3,729
Deferred acquisition costs	542
Available-for-sale securities, at fair value	15,842
Fixed assets	171
Intangible assets	5,823
Deferred tax assets	141
Other assets	1,671
TOTAL ASSETS	33,929
LIABILITIES
Deferred income tax liabilities	47
Liabilities from insurance activity	21,667
Other liabilities	139
TOTAL LIABILITIES	21,853
Net assets acquired	12,076
Goodwill, net of impairment	526
Total purchase price	7,009
Fair value of non-controlling interest at acquisition	5,593
Total purchase price							$ 12,611
Freedom Insurance
ASSETS
Cash and cash equivalents										$ 1,224
Due from banks										1,041
Assets from insurance activity										45
Current income tax asset										5
Available-for-sale securities, at fair value										1,846
Fixed assets										2
Intangible assets										207
Deferred tax assets										2
Other assets										17
TOTAL ASSETS										4,389
LIABILITIES
Liabilities from insurance activity										74
Other liabilities										214
TOTAL LIABILITIES	$ 288
Net assets acquired							4,101			4,101
Goodwill, net of impairment										187
Total purchase price							$ 13,977			$ 4,288
London Almaty
ASSETS
Cash and cash equivalents						$ 8,077
Due from banks						2,176
Trading securities						6,178
Value of business acquired						1,677
Assets from insurance activity						3,401
Fixed assets						806
Intangible assets						127
Other assets						1,505
TOTAL ASSETS						23,947
LIABILITIES
Liabilities from insurance activity						1,429
Insurance reserves						6,380
Other liabilities						280
TOTAL LIABILITIES						8,089
Net assets acquired						15,858
Goodwill, net of impairment						485
Total purchase price						$ 16,343
Ticketon
ASSETS
Cash and cash equivalents					$ 3,079
Brokerage and other receivables					175
Fixed assets					47
Intangible assets					1,424
Right-of-use asset					63
Other assets					627
TOTAL ASSETS					5,415
LIABILITIES
Deferred income tax liabilities					36
Lease liability					79
Other liabilities					4,067
TOTAL LIABILITIES					4,182
Net assets acquired					1,233
Goodwill, net of impairment					1,771
Total purchase price					3,004
Paybox
ASSETS
Cash and cash equivalents					5,429
Trading securities					3,838
Brokerage and other receivables					1,726
Fixed assets					1,080
Intangible assets					3,288
Right-of-use asset					341
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Goodwill					932
Other assets					454
TOTAL ASSETS					17,088
LIABILITIES
Deferred income tax liabilities					3,037
Business combination, recognized identifiable assets acquired and liabilities assumed, current liabilities, accounts payable					799
Lease liability					993
Other liabilities					600
TOTAL LIABILITIES					5,429
Net assets acquired				$ 11,659	11,659
Goodwill, net of impairment					0
Total purchase price					$ 11,659
L.D. Micro
ASSETS
Intangible assets			$ 2,540
TOTAL ASSETS			2,540
LIABILITIES
Business combination, recognized identifiable assets acquired and liabilities assumed, current liabilities, accounts payable			14
TOTAL LIABILITIES			14
Net assets acquired			2,526
Goodwill, net of impairment			5,774
Total purchase price			$ 8,300

ASSETS AND LIABILITIES HELD F_3

ASSETS AND LIABILITIES HELD FOR SALE - Narrative (Details) $ in Thousands, ₽ in Millions			1 Months Ended		11 Months Ended	12 Months Ended
	Oct. 17, 2022 USD ($)	Oct. 17, 2022 RUB (₽)	Jan. 31, 2023 USD ($)	Jan. 31, 2023 RUB (₽)	Feb. 28, 2023 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Foreign currency translation adjustments, net of tax effect						$ 5,195	$ (20,622)	$ 2,787
Freedom Finance JSC
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percentage ownership after all transactions	90.43%	90.43%
Freedom KZ
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percentage ownership after all transactions	100%	100%
Freedom RU
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership interest prior to disposal	100%	100%
Liabilities assumed	$ 88,500	₽ 6,600
Cash consideration	$ 140,000
Foreign currency translation adjustments, net of tax effect			$ 695	₽ 50	$ 25,415
Freedom RU | Discontinued operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Foreign currency translation adjustments, net of tax effect					$ 25,415

ASSETS AND LIABILITIES HELD F_4

ASSETS AND LIABILITIES HELD FOR SALE - Balance sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Feb. 28, 2023	Mar. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents (including $35,549 and $22,787 from related parties)			$ 225,464
Restricted cash (including $114,885 and $222,651 from related parties)			547,950
Trading securities	$ 2,412,556		1,158,377
Margin lending, brokerage and other receivables, net (including $294,985 and $107,649 from related parties)	376,329		147,659
Loans issued	826,258		92,446
Other assets, net (including $16,089 and $— from related party)			29,641
Total assets	5,084,558		3,230,347
Customer liabilities (including $130,210 and $325,904 from related parties)	1,925,247		765,628
Securities repurchase agreement obligations	1,517,416		840,224
Debt securities issued	60,025		34,390
Other liabilities			21,477
Total liabilities	$ 4,313,822		2,683,739
Discontinued operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents (including $35,549 and $22,787 from related parties)		$ 593,953	428,480
Restricted cash (including $114,885 and $222,651 from related parties)		6,033	28,406
Trading securities		113,845	122,497
Margin lending, brokerage and other receivables, net (including $294,985 and $107,649 from related parties)		257,184	210,087
Loans issued		23,169	2,395
Other assets, net (including $16,089 and $— from related party)		32,398	33,554
Total assets		1,026,582	825,419
Customer liabilities (including $130,210 and $325,904 from related parties)		34,379	64,637
Securities repurchase agreement obligations		776,425	701,584
Debt securities issued		33,275	32,469
Other liabilities		16,385	13,788
Total liabilities		$ 860,464	$ 812,478

ASSETS AND LIABILITIES HELD F_5

ASSETS AND LIABILITIES HELD FOR SALE - Results of operations (Details) - USD ($) $ in Thousands	11 Months Ended	12 Months Ended
	Feb. 28, 2023	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fee and commission income (including $199,235, $291,163 and $184,725 from related parties)		$ 327,215	$ 335,211	$ 216,008
Net gain on trading securities		71,084	155,252	28,807
Total net (loss)/gain on derivatives		(64,826)	946	86
Interest income		294,695	121,609	38,474
Net gain on foreign exchange operations		52,154	3,791	557
TOTAL REVENUE, NET		795,693	689,790	346,883
Payroll and bonuses		81,819	46,288	23,435
Professional services		17,006	12,682	4,430
Stock compensation expense		9,293	7,859	114
Advertising expense		14,059	11,916	6,971
General and administrative expense		59,971	23,533	11,118
Interest expense:		208,947	76,947	22,444
Fee and commission expense		29,119	2,502	1,590
Other expense/(income), net			4,014	2,034
TOTAL EXPENSE		559,755	326,097	195,078
NET INCOME BEFORE INCOME TAX		$ 235,938	363,693	151,805
Discontinued operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fee and commission income (including $199,235, $291,163 and $184,725 from related parties)	$ 77,109		69,742	52,780
Net gain on trading securities	22,045		(78,674)	20,275
Total net (loss)/gain on derivatives	(44)		0	39
Interest income	53,410		28,399	11,221
Net gain on foreign exchange operations	45,859		(39,672)	2,285
TOTAL REVENUE, NET	198,379		(20,205)	86,600
Payroll and bonuses	58,971		39,114	24,827
Professional services	620		467	239
Stock compensation expense	1,743		7,887	1,033
Advertising expense	14,945		7,085	1,881
General and administrative expense	26,031		18,476	14,001
Interest expense:	15,051		10,450	8,760
Fee and commission expense	10,467		7,988	7,122
Provision for impairment losses	1,566		779	45
Other expense/(income), net	825		4,748	174
TOTAL EXPENSE	130,219		96,994	58,082
NET INCOME BEFORE INCOME TAX	$ 68,160		$ (117,199)	$ 28,518

ASSETS AND LIABILITIES HELD F_6

ASSETS AND LIABILITIES HELD FOR SALE - Cash flow statement (Details) - USD ($) $ in Thousands	11 Months Ended	12 Months Ended
	Feb. 28, 2023	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net income/(loss) from discontinued operations		$ 12,424	$ (104,195)	$ 21,783
Depreciation and amortization		5,138	3,416	2,688
Noncash lease expense		5,113	3,546	2,573
Change in deferred taxes		(811)	(4,681)	1,651
Impairment expense		0	2,300
Stock compensation expense		9,293	7,859	114
Unrealized (gain)/loss on trading securities		(107,310)	50,987	(8,672)
Net change in accrued interest		(56,478)	(15,940)	(14,947)
Allowances for receivables		29,119	2,502	1,590
Loss from divestiture of Russian subsidiaries	$ 51,533		0	0
Trading securities		(1,019,191)	(608,622)	(466,591)
Other assets		(12,302)	(9,468)	(8,809)
Securities sold, not yet purchased – at fair value		(13,865)	5,296	8,508
Customer liabilities		105,942	(23,167)	432,245
Current income tax liability		(10,019)	357	11,571
Lease liabilities		(5,284)	(3,670)	(2,378)
Other liabilities		(730)	10,484	1,813
Net cash flows from/(used in) operating activities from discontinued operations		(24,095)	(112,500)	347,017
Purchase of fixed assets		(38,542)	(5,623)	(1,518)
Proceeds from sale of fixed assets		0	0	15
Cash, cash equivalents and restricted cash disposed from divestiture of Russia segment		(599,986)	0	0
Net cash flows used in investing activities from continuing operations		$ (833,506)	$ (141,940)	8,578
Impairment, Intangible Asset, Indefinite-Lived (Excluding Goodwill), Statement of Income or Comprehensive Income [Extensible Enumeration]			Provision for impairment losses
Discontinued operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net income/(loss) from discontinued operations	12,424		$ (104,195)	21,783
Depreciation and amortization	2,103		2,035	1,745
Noncash lease expense	5,772		4,932	3,826
Change in deferred taxes	8,203		(12,634)	1,170
Stock compensation expense	1,743		7,887	1,033
Unrealized (gain)/loss on trading securities	(35,244)		51,652	(425)
Net change in accrued interest	(276)		354	(1,921)
Client base write-off	0		3,125	0
Allowances for receivables	1,871		771	41
Trading securities	62,100		(39,354)	(100,133)
Margin lending, brokerage and other receivables (including $(187,336), $(97,783), and $54,973 changes from related parties)	(23,325)		(218,852)	28,845
Other assets	(2,684)		(3,684)	(1,292)
Securities sold, not yet purchased – at fair value	182		239	23
Customer liabilities	(106,396)		198,608	392,855
Current income tax liability	1		(637)	658
Margin lending and trade payables	(15)		(370)	230
Lease liabilities	(5,763)		(5,166)	(3,854)
Other liabilities	3,676		1,256	2,433
Net cash flows from/(used in) operating activities from discontinued operations	(24,095)		(112,500)	347,017
Purchase of fixed assets	(4,421)		(3,438)	(2,137)
Proceeds from sale of fixed assets	0		0	76
Net change in loans issued to customers	(25,331)		(945)	(171)
Net cash flows used in investing activities from continuing operations	(629,738)		(4,383)	(2,232)
Discontinued operations | FFIN Bank
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment expense	0		723	0
Discontinued operations | Zerich
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment expense	$ 0		$ 810	$ 0

ASSETS AND LIABILITIES HELD F_7

ASSETS AND LIABILITIES HELD FOR SALE - Provision for Impairment (Details) $ in Thousands, ₽ in Millions	1 Months Ended		11 Months Ended	12 Months Ended
	Jan. 31, 2023 USD ($)	Jan. 31, 2023 RUB (₽)	Feb. 28, 2023 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)	Jan. 31, 2023 RUB (₽)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents (including $35,549 and $22,787 from related parties)					$ 225,464
Restricted cash (including $114,885 and $222,651 from related parties)					547,950
Trading securities				$ 2,412,556	1,158,377
Margin lending, brokerage and other receivables, net (including $294,985 and $107,649 from related parties)				376,329	147,659
Loans issued				826,258	92,446
Other assets, net (including $16,089 and $— from related party)					29,641
Total assets				5,084,558	3,230,347
Customer liabilities (including $130,210 and $325,904 from related parties)				1,925,247	765,628
Securities repurchase agreement obligations				1,517,416	840,224
Debt securities issued				60,025	34,390
Other liabilities					21,477
Total liabilities				4,313,822	2,683,739
Foreign currency translation adjustments, net of tax effect				$ 5,195	(20,622)	$ 2,787
Freedom RU
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Foreign currency translation adjustments, net of tax effect	$ 695	₽ 50	$ 25,415
Consideration received	$ 695						₽ 50
Discontinued operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents (including $35,549 and $22,787 from related parties)			593,953		428,480
Restricted cash (including $114,885 and $222,651 from related parties)			6,033		28,406
Trading securities			113,845		122,497
Margin lending, brokerage and other receivables, net (including $294,985 and $107,649 from related parties)			257,184		210,087
Loans issued			23,169		2,395
Other assets, net (including $16,089 and $— from related party)			32,398		33,554
Total assets			1,026,582		825,419
Customer liabilities (including $130,210 and $325,904 from related parties)			34,379		64,637
Securities repurchase agreement obligations			776,425		701,584
Debt securities issued			33,275		32,469
Other liabilities			16,385		13,788
Total liabilities			860,464		812,478
Provision for impairment losses			1,566		$ 779	$ 45
Discontinued operations | Freedom RU
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents (including $35,549 and $22,787 from related parties)			593,953
Restricted cash (including $114,885 and $222,651 from related parties)			6,033
Trading securities			113,845
Margin lending, brokerage and other receivables, net (including $294,985 and $107,649 from related parties)			257,184
Loans issued			23,169
Other assets, net (including $16,089 and $— from related party)			32,398
Total assets			1,026,582
Customer liabilities (including $130,210 and $325,904 from related parties)			776,425
Securities repurchase agreement obligations			33,275
Debt securities issued			34,379
Other liabilities			16,385
Total liabilities			860,464
Net assets of discontinued operations			166,118
Foreign currency translation adjustments, net of tax effect			25,415
Adjusted net assets of discontinued operations			191,533
Consideration received			140,000
Provision for impairment losses			$ (51,533)

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Unfunded commitments under lines of credit	$ 20,617	$ 11,292
Bank guarantees	7,001	6,384
Total	$ 27,618	$ 17,676

SEGMENT REPORTING - Narrative (

SEGMENT REPORTING - Narrative (Details) - issuer	1 Months Ended	3 Months Ended
	Feb. 28, 2023	Mar. 31, 2022
Segment Reporting [Abstract]
Number of operating segments	4	5

SEGMENT REPORTING - Income Stat

SEGMENT REPORTING - Income Statement (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Fee and commission income (including $199,235, $291,163 and $184,725 from related parties)	$ 327,215	$ 335,211	$ 216,008
Net gain on trading securities	71,084	155,252	28,807
Interest income	294,695	121,609	38,474
Insurance underwriting income	115,371	72,981	62,951
Net gain on foreign exchange operations	52,154	3,791	557
Total net (loss)/gain on derivatives	(64,826)	946	86
TOTAL REVENUE, NET	795,693	689,790	346,883
Fee and commission expense (including $2,988, $16,307 and $20,291 from related parties)	65,660	85,909	70,537
Interest expense:	208,947	76,947	22,444
Insurance claims incurred, net of reinsurance	77,329	54,447	52,405
Payroll and bonuses	81,819	46,288	23,435
Professional services	17,006	12,682	4,430
Stock compensation expense	9,293	7,859	114
Advertising expense	14,059	11,916	6,971
General and administrative expense	59,971	23,533	11,118
Provision for impairment losses	29,119	2,502	1,590
Other (income)/expense, net	(3,448)	4,014	2,034
TOTAL EXPENSE	559,755	326,097	195,078
NET INCOME BEFORE INCOME TAX	235,938	363,693	151,805
Income tax (expense)/benefit	(42,776)	(38,570)	(23,307)
Net income from continuing operations	193,162	325,123	128,498
Central Asia and Eastern Europe
Segment Reporting Information [Line Items]
Fee and commission income (including $199,235, $291,163 and $184,725 from related parties)	106,982	23,652	20,567
Net gain on trading securities	92,330	10,511	21,310
Interest income	257,285	107,075	34,158
Insurance underwriting income	115,371	72,981	62,951
Net gain on foreign exchange operations	58,908	7,824	1,072
Total net (loss)/gain on derivatives	(64,826)	946	86
TOTAL REVENUE, NET	566,050	222,989	140,144
Fee and commission expense (including $2,988, $16,307 and $20,291 from related parties)	34,939	20,610	7,412
Interest expense:	172,326	66,392	16,608
Insurance claims incurred, net of reinsurance	77,329	54,447	52,405
Payroll and bonuses	56,774	32,562	16,878
Professional services	1,594	1,773	685
Stock compensation expense	6,582	4,768	0
Advertising expense	7,847	4,684	3,566
General and administrative expense	34,754	16,770	8,036
Provision for impairment losses	12,522	2,441	1,086
Other (income)/expense, net	(4,485)	3,138	2,052
TOTAL EXPENSE	400,182	207,585	108,728
NET INCOME BEFORE INCOME TAX	165,868	15,404	31,416
Income tax (expense)/benefit	(625)	1,195	111
Net income from continuing operations	165,243	16,599	31,527
Europe, excluding Eastern Europe
Segment Reporting Information [Line Items]
Fee and commission income (including $199,235, $291,163 and $184,725 from related parties)	215,408	307,014	194,311
Net gain on trading securities	(22,693)	142,195	8
Interest income	26,090	14,051	3,634
Insurance underwriting income	0	0	0
Net gain on foreign exchange operations	(2,287)	(5,598)	(300)
Total net (loss)/gain on derivatives	0	0	0
TOTAL REVENUE, NET	216,518	457,662	197,653
Fee and commission expense (including $2,988, $16,307 and $20,291 from related parties)	29,426	64,519	62,430
Interest expense:	22,042	8,747	3,663
Insurance claims incurred, net of reinsurance	0	0	0
Payroll and bonuses	16,090	9,419	5,398
Professional services	7,397	5,540	769
Stock compensation expense	550	677	56
Advertising expense	5,900	7,217	3,386
General and administrative expense	20,496	4,894	2,518
Provision for impairment losses	15,070	61	108
Other (income)/expense, net	1,101	7	(3)
TOTAL EXPENSE	118,072	101,081	78,325
NET INCOME BEFORE INCOME TAX	98,446	356,581	119,328
Income tax (expense)/benefit	(21,813)	(26,786)	(13,859)
Net income from continuing operations	76,633	329,795	105,469
US
Segment Reporting Information [Line Items]
Fee and commission income (including $199,235, $291,163 and $184,725 from related parties)	4,825	4,545	1,130
Net gain on trading securities	1,447	2,546	7,489
Interest income	11,289	483	682
Insurance underwriting income	0	0	0
Net gain on foreign exchange operations	(4,479)	1,565	(215)
Total net (loss)/gain on derivatives	0	0	0
TOTAL REVENUE, NET	13,082	9,139	9,086
Fee and commission expense (including $2,988, $16,307 and $20,291 from related parties)	1,238	780	695
Interest expense:	14,579	1,808	2,173
Insurance claims incurred, net of reinsurance	0	0	0
Payroll and bonuses	7,818	4,224	1,156
Professional services	7,875	5,295	2,975
Stock compensation expense	2,161	2,414	58
Advertising expense	186	9	19
General and administrative expense	4,095	1,749	553
Provision for impairment losses	1,527	0	396
Other (income)/expense, net	(14)	872	(15)
TOTAL EXPENSE	39,465	17,151	8,010
NET INCOME BEFORE INCOME TAX	(26,383)	(8,012)	1,076
Income tax (expense)/benefit	(20,278)	(12,988)	(9,559)
Net income from continuing operations	(46,661)	(21,000)	(8,483)
Middle East/ Caucasus
Segment Reporting Information [Line Items]
Fee and commission income (including $199,235, $291,163 and $184,725 from related parties)	0	0	0
Net gain on trading securities	0	0	0
Interest income	31	0	0
Insurance underwriting income	0	0	0
Net gain on foreign exchange operations	12	0	0
Total net (loss)/gain on derivatives	0	0	0
TOTAL REVENUE, NET	43	0	0
Fee and commission expense (including $2,988, $16,307 and $20,291 from related parties)	57	0	0
Interest expense:	0	0	0
Insurance claims incurred, net of reinsurance	0	0	0
Payroll and bonuses	1,137	83	3
Professional services	140	74	1
Stock compensation expense	0	0	0
Advertising expense	126	6	0
General and administrative expense	626	120	11
Provision for impairment losses	0	0	0
Other (income)/expense, net	(50)	(3)	0
TOTAL EXPENSE	2,036	280	15
NET INCOME BEFORE INCOME TAX	(1,993)	(280)	(15)
Income tax (expense)/benefit	(60)	9	0
Net income from continuing operations	$ (2,053)	$ (271)	$ (15)

SEGMENT REPORTING - Balance She

SEGMENT REPORTING - Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information [Line Items]
Total assets	$ 5,084,558	$ 3,230,347
Total liabilities	4,313,822	2,683,739
Net assets	770,736	546,608
Total available-for-sale securities, at fair value	239,053	161,364
Corporate debt
Segment Reporting Information [Line Items]
Total available-for-sale securities, at fair value	191,082	145,836
Corporate equity
Segment Reporting Information [Line Items]
Total available-for-sale securities, at fair value	0	1
Held for sale
Segment Reporting Information [Line Items]
Total assets		825,419
Total liabilities		812,478
Net assets		12,941
Central Asia and Eastern Europe
Segment Reporting Information [Line Items]
Total assets	4,303,126	1,466,214
Total liabilities	3,868,326	1,206,084
Net assets	434,800	260,130
Europe, excluding Eastern Europe
Segment Reporting Information [Line Items]
Total assets	677,425	765,698
Total liabilities	384,921	489,884
Net assets	292,504	275,814
US
Segment Reporting Information [Line Items]
Total assets	101,365	172,661
Total liabilities	60,198	175,121
Net assets	41,167	(2,460)
Middle East/ Caucasus
Segment Reporting Information [Line Items]
Total assets	2,642	355
Total liabilities	377	172
Net assets	$ 2,265	$ 183

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) $ in Thousands					12 Months Ended
	Jul. 26, 2023 USD ($)	Jun. 14, 2023 USD ($)	Apr. 26, 2023 USD ($) company	May 17, 2022 company	Mar. 31, 2022 company
Subsequent Event [Line Items]
Number of businesses acquired | company				2	2
Subsequent Event
Subsequent Event [Line Items]
Number of businesses acquired | company			2
Subsequent Event | Arbuz Group LLP
Subsequent Event [Line Items]
Consideration paid for the outstanding common shares			$ 16,509
Subsequent Event | Aviata LLP
Subsequent Event [Line Items]
Consideration paid for the outstanding common shares		$ 30,411
Subsequent Event | Internet-Tourism LLP
Subsequent Event [Line Items]
Consideration paid for the outstanding common shares		$ 1,896
Subsequent Event | ReKassa PCI Reader
Subsequent Event [Line Items]
Consideration paid for the outstanding common shares	$ 2,500