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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