Alif Bank
Alif Bank OJSC
FormerlyAlif Capital, Alif Sarmoya
TypePrivate
IndustryBanking
Founded2014 (2014)
Founders
  • Abdullo Kurbanov
  • Firdavs Mirzoev
  • Zuhursho Rahmatulloev
Headquarters
Dushanbe
,
Tajikistan
Area served
  • Tajikistan
  • Uzbekistan
  • United Arab Emirates
Key people
  • Gulanor Atobek (Chairman/CEO)
  • Daler Karimov (Deputy Chairman/Deputy CEO)
ProductsAlif Mobi, Alif Shop, Alif Salom, Alif Nasiya, Alif Pay [1][2]
Number of employees
1,000 (2023)
ParentAlif Capital Holdings Ltd (100%)[3]
Websitealif.tj

Alif Bank (Tajik: Алиф Бонк; formerly Alif Capital or Alif Sarmoya)[4] is a Tajik bank, headquartered in Dushanbe, Tajikistan. It was established as a financial technology company in 2014 and turned into a bank in 2020, undertaking Sharia-compliant financial activities.

History

Alif was started in Tajikistan on April 29, 2014, by Abdullo Kurbanov, Firdavs Mirzoev and Zuhursho Rahmatulloev,[5][1] and named after the first letter of the Perso-Arabic script which was used in Central Asia until the late modern period.[5] Alif initially operated as a microfinance company for individuals and SMEs,[5] and later added offerings such as an online marketplace, digital wallet, and buy now pay later services.[1][6]

In October 2019, Alif established a subsidiary in Uzbekistan called Alif Tech for point-of-sale financing.[7][8][9]

In November 2019, Alif Capital Holdings raised funding from Khofiz Shakhidi, a Tajik businessman living in Monaco, as a result of which Shakhidi obtained a 25% stake in the company and became Chairman of the Board of directors.[10]

In January 2020, Alif received a banking license from the National Bank of Tajikistan to carry out banking operations in national and foreign currencies. It commenced banking operations on January 3, 2020, under the license number 0000114 and with an authorized capital of SM 110,597,000.[11][12][3]

In July 2020, Alif Bank partnered with Visa,[13] before launching Alif Visa cards in Tajikistan in 2021.[14]

In September 2021, Alif Capital Holdings was valued at over $100 million after raising $8 million in equity and $50 million in debt from UK-based Jefferson Capital Holdings, which was founded by Shakhidi.[15][16][17]

In November 2022, Alif Bank appointed Gulanor Atobek as its new chairman.[18]

In September 2023, Alif began operations in the United Arab Emirates with the launch of Alif Pay.[2]

Alif Capital Holdings

Alif Capital Holdings Ltd (ACHL) is the parent company of Alif Bank and is based in the UK. The major shareholders of ACHL include Jefferson Capital Holdings as well as founders Abdullo Kurbanov, Firdavs Mirzoev and Zuhursho Rahmatulloev.[15] Apart from Alif Bank, ACHL has two other wholly-owned subsidiaries — Alif Tech and Alif Moliya — both of which were acquired from Alif Bank in 2020.[19]

See also

References

  1. 1 2 3 "Digital banking challenger Alif prepares for UK expansion". Finextra Research. 27 July 2021. Retrieved 18 December 2023.
  2. 1 2 "Alif launches Alif Pay and expands into the UAE". The Paypers. Retrieved 18 December 2023.
  3. 1 2 "List of shareholders of bank". National Bank of Tajikistan. Retrieved 18 December 2023.
  4. ↑ ""Алиф Сармоя" переименован в "Алиф Банк"". Khovar. Retrieved 18 December 2023.
  5. 1 2 3 ""Алиф Сармоя": Быть прямыми и неизменными в принципах". Asia-Plus. Retrieved 18 December 2023.
  6. ↑ Hassan, Taimoor. "As Tajikistan's Alif Bank plans entry into the Pakistani market, uncertainty for Digital Banks looms". Pakistan Today. Retrieved 18 December 2023.
  7. ↑ "МДО "Алиф Капитал" открыла свою компанию в Ташкенте". Asia-Plus. Retrieved 18 December 2023.
  8. ↑ "Tajikistan's microfinance organization opens its financial technology company in Uzbekistan". Asia-Plus. Retrieved 18 December 2023.
  9. ↑ Tamano, Nessreen (16 October 2020). "Tajikistani fintech aims for Shariah compliance and expansion by 2021". IFN Fintech. Retrieved 18 December 2023.
  10. ↑ "Таджикский предприниматель из Монако инвестировал в компанию "Алиф Капитал"". Asia-Plus. Retrieved 18 December 2023.
  11. ↑ "Выдача лицензии ОАО "Алиф Банк"". National Bank of Tajikistan. Retrieved 18 December 2023.
  12. ↑ "Micro-financing organization using the principles of Islamic Finance upgraded into bank". Asia-Plus. Retrieved 18 December 2023.
  13. ↑ "Visa и Алиф Банк объявили о стратегическом партнерстве". Вечёрка (in Russian). 7 July 2020. Retrieved 18 December 2023.
  14. ↑ "Alif records over 150% year-on-year revenue growth". IBS Intelligence. Retrieved 18 December 2023.
  15. 1 2 ""Алиф" оценили в 100 миллионов долларов". Asia-Plus. Retrieved 18 December 2023.
  16. ↑ "Alif receives $100 million valuation, $8 million and $50 million in debt". ffnews.com. Retrieved 18 December 2023.
  17. ↑ Tan, Vineeta (9 September 2021). "Islamic challenger bank Alif closes Series A round". IFN Fintech. Retrieved 18 December 2023.
  18. ↑ "Раиси "Алиф Бонк" нав шуд". Sputnik Tajikistan (in Tajik). 2 November 2022. Retrieved 18 December 2023.
  19. ↑ "Alif Capital Holdings Limited". The London Gazette. Retrieved 18 December 2023.
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