Launched in the UAE in September 2023 and headed up by Shafique Ibrahim, Alif Pay enables fintech products for UAE residents with a focus on enhanced user experience of its app.
The partnership with Alif Pay reflects the evolving partnership The PHA Group has shared with the wider Alif Group.
The PHA Group first partnered with Alif in 2021. At the time, Alif was recognised as a leading fintech in Tajikistan and was looking to export its success to new markets. Since then, Alif has successfully launched into three new markets, increased its clients base, and successfully concluded one of the highest funding rounds in Central Asia with Jefferson Capital, led by Chairman Khofiz Shakhidi.
Alif has become a leading, global voice in Islamic fintech and continues to champion the talent and potential on offer from Central Asia and the Middle East.
Alif Pay joins The PHA Groups’s growing portfolio of payment clients and joins the agency’s growing list of clients in the Middle East.
Shafique Ibrahim, CEO at Alif Pay, commented: “We are excited to collaborate with PHA to elevate our communication strategies and strengthen our brand presence in the market. With their wealth of experience and dedication to excellence, we are confident that this partnership will drive our brand narrative to new heights and share the story of Alif Payment’s innovative contributions to the fintech industry”.
Rhys Merrett, Head of Technology at The PHA Group, commented: “It has been a privilege working with Alif for the last two years.
“Our mission is to partner with companies like Alif which are not only transforming society through innovative technologies, but also committed to noble values. Casting a light on a region like Central Asia that is normally overshadowed by established fintech hubs like New York and London has been vital.
“Alif Pay’s launch in the UAE is testament to this. We look forward to supporting Alif as it explores new markets, technologies and offerings now and in the future.”
About The PHA Group
The PHA Group is one of the UK’s top independent PR, Digital, Creative, and Crisis Management agencies, creating campaigns with meaningful messages to drive real impact. Our consumer, corporate and reputation specialists deliver transformational results for clients, including household brands, international corporations, ambitious start-ups and individuals with a story to tell. Our offices are located in London, Manchester, Leeds & Wokingham where we are perfectly placed to deliver game-changing regional, national, and international campaigns. Our dedicated teams provide passion and specialist insight across a variety of sectors including technology, fitness, wellbeing, sport, food & drink, sustainability, third sector, healthcare, and legal & professional services. Our unparalleled network integrates top-level media and influencer contacts with strategic, creative, digital, and social insight, as well as global connections, to create a truly bespoke service.
Alif was founded in 2014 by Abdullo Kurbanov, Firdavs Mirzoev and Zuhursho Rahmatulloev, offering a suite of fintech banking services specific to the needs of customers in Central Asia. With a full banking license in Tajikistan and a payments license in Uzbekistan, Alif’s services include alif mobi (most widely used mobile wallet in Tajikistan and one of the fastest growing mobile wallets in Uzbekistan), alif salom and alif nasiya (BNPL systems), and alif.shop (an online marketplace).
Launched in September 2023, Alif Pay is the latest in an ongoing expansion of products and services offered by Alif. Also operating as a fully licensed bank in Tajikistan and an e-commerce and fintech company in Uzbekistan, Alif’s total number of users experienced a 72% annual increase, with the company posing 121% year-in-year growth in 2022. As of September 2023, Alif’s total users number 2 million. Alif also closed one of the largest fintech funding rounds in Central Asia, raising $8 million in equity and $50 million in debt, and receiving a company valuation of $100 million in 2021.