TASHKENT, Uzbekistan, September 4. Alif
Uzbekistan is attracting significant investment and plans to
establish a bank to support small and medium-sized enterprises
(SMEs), Trend
reports.
Alif Uzbekistan, a big fish in the pond of installment services,
e-commerce, and fintech, is throwing its hat in the ring for a full
banking license. The company currently operates under a payment
services license.
Founded in 2014, Alif has quickly risen to become one of Central
Asia’s leading fintech companies. It now operates in Uzbekistan,
Tajikistan, and Pakistan, employing more than 1,400 staff and
serving 4.4 million clients.
The company dipped its toes into the Uzbek market in 2019 and
hit the ground running by securing an electronic money and payments
license in 2020. Since then, it has introduced a wide range of
services, including installment plans, an online marketplace, a
payment platform, and the Alif Travel service.
Today, Alif has built up a user base of over 5 million in
Uzbekistan. The company controls more than 30 percent of the
domestic installment market, while its payment platform generates
annual revenues of 135 billion Uzbek soums. Meanwhile, its
marketplace records a monthly turnover of more than $2 million.
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