“This credit line opens new opportunities for us to grow our retail financing services, and we trust that this partnership with Cur8 Capital will not only strengthen our position in the market but also create a foundation for long-term, mutually beneficial cooperation,” said Nuriddin Lafizov, CEO of Alif Uzbekistan.

This deal represents the first phase of an ongoing funding round, with additional agreements expected to be announced soon. Last year, the company also announced plans to issue sukuk bonds as part of its long-term strategy to strengthen its position in Uzbekistan’s rapidly growing financial services sector.

Cur8 Capital, based in the UK, actively invests in Islamic finance projects, particularly focusing on high-growth fintech startups, real estate ventures, and alternative assets that adhere to Sharia-compliant and ethical standards. The firm, which evolved from the well-known Islamic finance platform Islamic Finance Guru (IFG), emphasizes the inclusion of minority founders and projects with a positive social impact. 

Alif is an international fintech company with operations in Uzbekistan, Tajikistan, and Pakistan. A key feature of Alif is its commitment to Islamic finance principles. Over the five years of Alif’s operations in Uzbekistan, the company has expanded its presence by offering a super app that integrates a wide range of services—from money transfers and utility bill payments to marketplace shopping via Alif Shop and access to government services. 

To date, over 850,000 Alif customers in Uzbekistan have taken advantage of the Nasiya service to make interest-free purchases of goods and services, with payment terms of up to 24 months and no initial down payment required.

TMT Global Advisers, an international investment bank, served as the financial advisor for this transaction, guiding Alif through the negotiation and execution of the deal.

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