UAE – Mubasher: Central Asian fintech leader Alif launched Alif Pay in the UAE with Alif Pay to secure financial services and global remittance for UAE residents, according to a press release.

Alif Pay will provide a wide range of financial services by leveraging next-generation technology to meet the demands of UAE residents. The features include send now pay later (SNPL), a payroll platform, a travel prepaid programme, buy now, pay later (BNPL) and the fly now, pay later (FNPL).

Operating as a fully licensed bank in Tajikistan and an e-commerce as well as fintech company in Uzbekistan, Alif’s total number of users witnessed an annual hike of 72% in 2022, with the company posting 121% year-on-year (YoY) growth.

Meanwhile, Alif’s total users number stands at 1.90 million as of June 2023.

The company secured one of the biggest fintech funding rounds in Central Asia, raising $8 million in equity and $50 million in debt, with a valuation of $100 million in 2021.

Shafique Ibrahim, CEO of Alif Pay, said: “Alif Pay brings forth a groundbreaking vision for innovative payment services, granting customers swift and economical financial solutions.”

Zuhursho Rahmatulloev, Co-Founder of Alif, commented: “Alif has become a leading global voice in Islamic fintech and ethical banking, backed by our record-breaking growth milestones and rapid market expansions.”