DUSHANBE, Tajikistan, April 5. Alif Bank in Tajikistan has entered into a long-term cooperation agreement with Matercard, Trend reports.
According to the Tajik bank, Alif has commenced issuing Mastercard cards. Alif's clients can now use their cards for secure online purchases, physical payments at over 100 million card acceptance points worldwide, as well as conveniences associated with international travel.
The bank states that this agreement opens up new prospects for the development of financial services in Tajikistan.
Additionally, the agreement includes integration with the Alif Mobi mobile application. This app enables users to monitor balances, manage their cards, including switching the primary account, control card blocking and unblocking, set PIN codes, and view transaction history. Mastercard cards allow payments in Tajik somoni, dollars, and euros.
Established in 2014 as a financial technology (fintech) company, Alif Bank transformed into a bank in 2020. It provides financial services based on Islamic financial principles.
According to the National Bank of Tajikistan, there were 63 credit financial organizations, including 14 traditional banks, 1 Islamic bank, 1 non-bank credit organization, and 19 microcredit deposit organizations, operating in the country as of December 31, 2023.