Why is this important
Securing a bank licence will enable Alif to shift from a payment service to a fully-fledged bank, opening up more opportunities for small and medium-sized enterprises and reinforcing its position in the financial services sector.
What happened
- The Board of Directors approved establishing the bank in Uzbekistan.
- Alif has been present in Uzbekistan since 2019, holding a license for electronic money and payment services.
- Today, the company serves over 5 million users, with a market share in installment loans exceeding 30%, payment turnover of 135 billion soums, and marketplace turnover of more than $2 million per month.
- The company has already actively secured investments: $20 million from Accial Capital in 2025 and the previous $50 million bond issue.
Context
Alif is one of the region’s leading fintech companies operating in Uzbekistan, Tajikistan, and Pakistan. Obtaining a bank license will be the next major milestone in its development and will allow us to bring the ecosystem of services to a new level.
