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Title: Alif to raise $50 million through Islamic bond sales

Tashkent, Uzbekistan, 19th Nov 2023 - Alif, a leading Fintech has announced plans to raise $50 million through Sukuk issuances. The bond sale will be used to support it's subsidiary Alif Moliya’s continued expansion into Uzbekistan.  Launched in 2019, Alif Moliya currently facilitates over 35% of POS lending market share in Uzbekistan through Alif Nasiya product (BNPL payment method), and a growing customer base through its e-commerce platform Alif Shop. 2023 was a record-breaking year for Alif Moliya with significant year-on-year growth in both revenue generation and customer acquisition.  The $50 million sale of Islamic bonds follows the successful closure of an $58 million equity and debt funding round led by Alif Capital Holdings’ existing shareholder, Jefferson Capital.Alif Capital Holdings’ portfolio of fintech companies services over two million customers in both Tajikistan and Uzbekistan and plans to expand into other markets in the Middle East and East Asia.Khofiz Shakhidi, Chairman and majority shareholder of Alif Capital Holdings Limited, spoke about the success of Alif in combining cutting-edge fintech solutions with ethical banking practices.“In under a decade, Alif has become one of Central Asia’s leading fintech and ethical banking institutions. Its success comes from a commitment to ethical and customer-centric services backed by investors and shareholders who share the same vision. This latest bond sale will inject the growth capital needed for Alif Moliya to broaden its offering in Uzbekistan and is a new opportunity for investors to become part of Alif’s journey.”Nuriddin Lafizov, CEO of Alif Uzbekistan, commented: “Since our launch, Uzbekistan has fully embraced our suite of financial services. We can proudly say that Alif is now recognised...

This press release is issued by King Newswire