Alif Capital Alif Capital is said to have been set up to provide financing solutions in accordance with Islamic finance as soon as the instructions by NBT are available. Alif Capital Alif Capital (тадж. "Алиф Сармоя", рус. "Алиф Капитал") – is the first micro-financing organization in the Republic of Tajikistan which uses the principles of Islamic Finance. It is located in Tajikistan, Dushanbe. In August 2014, the law regulating Islamic finance was finally enacted, however, the National Bank of Tajikistan (NBT) is currently working on issuing instructions for the financial institutions that wish to work under the principles of Islamic Finance. Nevertheless,
Khorezm People's Soviet Republic Autonomous Soviet Socialist Republic to the north and to the south, and on the Bukharan People's Soviet Republic to the east. Its western border was a rough continuation of the western coast of Aral Sea, bordering on what was then the Kirghiz ASSR (today's western Kazakhstan). It had an area of and a population of more than 600,000 people, mainly Uzbeks (62.5%), Turkmens (28.6%), Kazakhs (3.5%), and Karakalpaks (3.0%). Its capital was Khiva. Khorezm People's Soviet Republic The Khorezm People's Soviet Republic (; ) was the state created as the successor to the Khanate of Khiva in February 1920, when