Tajikistan: Alif-Sarmoya Micro Credit Deposit Organization LLC Granted License f...

Mar 2016
Tajikistan, March, 16 2016 - Alif-Sarmoya (Alif Capital) Micro Credit Deposit Organization LLC has been granted license to carry out banking operations in the national and hard currencies, according to the press center of the National Bank of Tajikistan (NBT).

This lending agency now has the right to attract deposits of monetary funds from physical and legal entities, provide microloans, open and serve bank accounts, carry out money transfer and currency exchange operations.

Established in 2014, Alif-Sarmoya LLC received a license from the NBT to operate as micro-credit organization.  On the same year, Alif-Sarmoya LLC launched consumer credit which was dubbed as “Befoiz” (Interest-free) by offering short-term consumer credits (4–6 months) to its clients.

In 2015, Alif-Sarmoya LLC joined the Association of Micro-credit Organizations of Tajikistan (AMFOT), the role of which is to unify and harmonize the interests of industry players by developing their capabilities to serve the general public more effectively.

Alif-Sarmoya LLC is considered the first micro-financing organization in Tajikistan that is implementing the principles of Islamic finance that do not conflict with the existing banking law.

According to the official data of Tajik central bank, 24 micro-financing and 39 micro-deposit organizations now operate in Tajikistan.  

Source : Asia-Plus

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