Alif Moliya

Alif Moliya is a fintech company operating in Uzbekistan as a subsidiary of the Tajikistan-founded Alif Capital Holdings. Launched in 2019, the company specializes in Shariah-compliant financial products. Alif Moliya operates as a trading company that provides consumers with installment plans for goods through its online marketplace, Alif Shop, and at offline points of sale.

The company's core offerings are based on Islamic finance principles such as Murabaha and Musawamah, avoiding interest-based lending. Key products include "Alif Nasiya," a Buy Now, Pay Later (BNPL) service which has secured over 35% of the point-of-sale (POS) lending market share in Uzbekistan, and the "alif mobi" mobile wallet for payments and remittances. The business model centers on selling merchandise to customers on installment, which has positioned Alif Moliya as a leader in the BNPL segment in the country. Revenue is generated through these sales, with the company securing funding through Shariah-compliant bonds, known as Sukuk, to finance its growth.

Alif Moliya is the Uzbek extension of Alif, which was founded in Tajikistan in 2014 by Abdullo Kurbanov, Firdavs Mirzoev, and Zuhursho Rahmatulloev, who returned to their native Central Asia from the UK and US to establish the fintech venture. The parent company, Alif, holds a full banking license in Tajikistan and a payments license in Uzbekistan. Alif Moliya itself registered as an e-commerce organization in 2019 and obtained a payment organization license from the Central Bank of Uzbekistan in July 2020. The CEO of Alif in Uzbekistan is Nuriddin Lafizov.

Keywords: Islamic finance, fintech, buy now pay later, BNPL, Shariah-compliant, Uzbekistan, point-of-sale financing, e-commerce, installment payments, Murabaha, Alif Nasiya, Alif Shop, mobile wallet, consumer finance, Central Asia, Sukuk, ethical finance, retail finance, alif mobi, financial services