FIDE is scheduled to hold its presidential election in September, with Turlov, chairman of the Kazakhstan Chess Federation and founder of Freedom Holding Corp., among the candidates. His Freedom Holding business empire has expanded rapidly despite economic uncertainty, Russia’s invasion of Ukraine, and increasing international sanctions. Freedom Holding also says the bank became one of the country’s leading issuers of Mastercard and Visa payment cards. Although these claims remain disputed, critics often point to his frequent public meetings with President Tokayev as evidence of an unusually close relationship. In 2023, President Tokayev personally appointed Turlov to lead the Kazakhstan Chess Federation despite his lack of professional chess experience or previous senior administrative roles within the sport.