DUSHANBE, Tajikistan, February 20. Visa International has awarded Tajikistan’s Alif Bank with three awards for the year 2023, Trend reports.
According to the bank, the Fintech Vanguard and Best Visa Business Issuer awards were granted for the development of innovative approaches and leadership in the issuance of business cards. The Visa Direct Rising Star award was presented for significant growth in transaction volumes using the Visa Direct system.
Established in 2014 as a financial technology (Fintech) company, Alif Bank transformed into a bank in 2020. It provides financial services based on Islamic finance principles.
In late January 2024, it was announced that in the Alif Mobi app, now more than 120 foreign countries are available for international transfers. Previously, users could send money to more than 50 countries, but this list has expanded by 70 countries. Among the added countries are the UK, Hungary, Portugal, Oman, Cambodia, and many others. Money transfers are made through Visa Direct technology.
According to the National Bank of Tajikistan, the total number of bank payment cards in circulation in the country reached 6.7 million as of December 31, 2023, which is a 32.6 percent increase compared to the same date in 2022 (5.1 million).
