banking legislation expected in 2026.

Products & Platform: IMAN operates an integrated suite of Islamic financial products serving both retail and institutional clients under the application name IMANUM:

Retail Finance: The company's financing solution operates across offline PoS terminals and online e-commerce platforms through API integration. The platform features 30-second instant credit decisioning, single QR code functionality combining payments and financing, and focuses on client segmentation. The company maintains a deliberate 20%-30% approval rate prioritizing portfolio quality over volume.

Investment Products: IMAN offers Shariah-compliant savings and investment solutions structured under Mudaraba principles, including first-ever group investment features enabling multiple investors to pool funds, and gift investment options allowing digital transfer of investment accounts. Unique features include automated monthly replenishments, scheduled withdrawals, and same-day liquidity for amounts up to $100 USD.

Emerging Products: The company has already been expanding into car financing (partnership with Yandex), premium marketplace BNPL for luxury goods, Islamic home financing (in talks with several big funds), and SME financing working capital solutions. IMAN is also redeveloping its payments infrastructure to support P2P transfers, PSP, QR payments, and several other features like charity box integrations with mosques, planned for re-release as part of the banking transformation later. The system will maintain Shariah compliance through fixed-fee pricing (avoiding percentage-based charges) and an integrated charitable giving mechanism where 5-10% of each $0.15 transaction fee is automatically donated to charitable causes, aligning with Islamic principles of sadaqah.

Technology & Operations: IMAN's platform is built on microservices architecture deployed on infinitely scalable Kubernetes infrastructure with established CI/CD processes. The risk management system processes over 1m+ data points from mobile devices, telecom partners, and from credit bureaus to generate 30-second credit decisions with 95% of approvals completed within this timeframe.

The collections infrastructure includes pre-collection welcome calls, AI bot reminders, segmented SMS and push notification strategies, and structured soft and hard collection processes divided into specific intervals. Customer support operates across multiple tiers (Standard, Gold, Premier, Private) with multichannel service through social media such as Facebook, Instagram, Telegram bots, AI chatbots, and telephone support, maintaining an NPS target above 80 and first contact resolution rates exceeding 90%.

Market Position: IMAN currently serves over 1m+ registered users with an active base including 50k+ depositors, 100,000+ customers, and 1,000+ merchant partners. The company manages assets valued $35m+ with proven ability to scale across multiple product verticals.

The sales organization includes 30+ team members divided into SDR (Sales Development Representatives), Account Managers, and Key Account Managers, processing 25,000+ leads monthly and generating $4m+ in monthly investment sales (deposits). Now, the company is opening dedicated offline spaces for premier and private banking clients with cash onboarding capabilities.

Shariah Compliance: All products are adapted to international Islamic finance standards (AAOIFI) and overseen by a regional Shariah advisory board. The company maintains detailed Shariah audit opinions for each product line and works with respected Islamic scholars to ensure ongoing compliance.

Corporate Governance: The company's board comprises five members, three of whom are based in Qatar, reflecting IMAN's regional strategic positioning and GCC connectivity. The holding company has been opening subsidiaries in Qatar Financial Center (QFC) and Abu Dhabi Global Market (ADGM), providing access to an international financial center framework and positioning for enhanced partnerships with Gulf-based financial institutions.

Strategic Vision: IMAN is executing a multi-stage transformation from its LP/GP structure and recent microfinance organization status toward a full Islamic banking license. The roadmap includes transitioning through MFO (Microfinance Organization) status to ultimately establish a digital Islamic bank. The company targets reaching a $1 billion portfolio by 2030 serving 1 million investors with expanded product offerings including Islamic mortgages, auto leasing, and business financing through revenue-sharing arrangements.

The company is pursuing strategic partnerships with regional banking institutions and telecommunications operators to accelerate growth and support the transformation into a licensed Islamic bank. IMAN's position as Uzbekistan's comprehensive Islamic fintech platform provides significant first-mover advantage in a large underserved market where conventional banking infrastructure has not addressed Shariah-compliant financial service needs.

Competitive Differentiation: While conventional banking players dominate retail banking and consumer finance, IMAN occupies the "blue ocean" of Islamic banking services. The company combines modern fintech UX with strict Shariah compliance.

Funding & Raising: IMAN has raised over $6 million to date from strategic institutional and individual investors including 500 Global (marking the VC's first-ever investment in Central Asia), Al Saqr Group (Kazakhstan), Le Mercier Family Office (PE, Switzerland), 55 Group (Tajikistan) and several angels.

The company is currently raising a $5m to fund the regulatory pathway toward Islamic banking. Proceeds will fund product development and technology infrastructure (30%), user acquisition and marketing (35%), operations and team scaling (25%), and capital reserves (10%).