Tashkent, Uzbekistan (UzDaily.com) — Alif Group has signed an agreement to attract US$3 million in financing from the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group.

The deal was executed as part of ITFC’s partnership with Ipak Yuli Bank and aims to support the private sector in Uzbekistan. The funds will be directed toward further development of the popular fintech installment service Nasiya.

Investment firms Ansher Capital and TMT Global Advisors acted as Alif’s consultants for the transaction.

Nuriddin Lafizov, CEO of Alif Uzbekistan, highlighted that cooperation with ITFC will open new opportunities for expanding access to fintech services and strengthening the company’s market position.

"This partnership reflects our long-term strategy to attract foreign investments and develop innovative financial products. We also plan to issue Islamic sukuk bonds abroad," added Lafizov. The bond issuance will be registered with the international depository Euroclear, and the raised funds will be allocated to consumer financing in Uzbekistan.

Earlier, in December 2024, Alif Uzbekistan secured US$20 million in funding from American investment firm Accial Capital to support Nasiya’s expansion. TMT Global Advisors also provided advisory services for this deal.

According to Alif Uzbekistan, the fintech service attracted approximately US$50 million from foreign investors in 2024, bringing the total investment in the company’s local division to over US$150 million.