Alif Uzbekistan Plans to Establish a Bank for SMEs

Tashkent, Uzbekistan (UzDaily.com) — Alif Uzbekistan is attracting major investments and plans to create a bank to support small and medium-sized enterprises (SMEs), the company announced on its social media pages.

Alif Uzbekistan, a leader in installment services, e-commerce, and fintech, intends to obtain a banking license. Currently, the company holds a license for payment services.

Founded in 2014, Alif quickly became one of the leading fintech companies in Central Asia. Today, it operates in Uzbekistan, Tajikistan, and Pakistan, employing over 1,400 people and serving 4.4 million clients.

Alif began operations in Uzbekistan in 2019 and obtained an electronic money and payments license in 2020. The company launched installment services, a marketplace, a payment service, and Alif Travel.

Currently, Alif has over 5 million users. Its market share in installment services exceeds 30%, the payment service generates annual revenue of 135 billion soums, and the marketplace achieves a monthly turnover of over US$2 million.