Focused on Installments
We are building the most convenient halal installment aggregator and mobile app in the BNPL market
Choose a convenient term for comfortable installment repayment
Flexible Payment Schedule
No usurious interest, hidden fees, or late payment fines
No Riba or Penalties!
AJR is a platform that transforms your everyday purchases (installments and loans) from a risky tightrope walk into a means of worship.
For muslims by muslims
Only Halal BNPL
Nothing Else!
Nothing Else!
A bold and revolutionary
approach to halal installments!
Our financing model strictly follows Islamic principles. Every transaction is based on Murabaha, ensuring transparency, fairness, and the absence of riba. Our processes are reviewed by a Shariah Supervisory Board, guaranteeing full compliance with Islamic finance standards.
Shariah Complied
Secure financing
To ensure customer safety, we use a biometric face verification system (from official IDs) and SMS confirmations from officially registered phone numbers. All customer data is securely encrypted and protected by a DLP system
Only pure Murabaha and a guarantor for secure financing.
No penalties, no hidden fees, no fine-print traps—just honest finance!
No penalties, no hidden fees, no fine-print traps—just honest finance!
Nurdaulet Ospanbekov - Head of Marketing at AJR
Meet our team
Practicing Muslims
An entrepreneur and product marketing expert with 10 years of experience. Contributed to the development of fintech products such as Freedom Insurance and Saqtanu, and served as CMO at Tayyab, where he grew the customer base from 20,000 to 150,000 users.
Founder & Chief Executive Officer
Timur Mukhtarov
Shareholder
An experienced entrepreneur with over 15 years of business experience. Holds a master's degree in Islamic finance, as well as CSAA (Certified Shariah Adviser & Auditor) and AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions) certifications.
Murat Kylyshbay
10 years of experience in finance, including successful work in both local and international companies. His expertise covers auditing, credit risk management and financial controlling, as well as financial planning and analysis.
Chief Financial Officer & Accounting
Arman Telibayev
Chief Technology Officer & Backend
CTO with 6+ years in backend development. Former Senior Developer, contributed to fintech growth, built scalable systems, and integrated payment solutions.
Zelimkhan Durdishev
A marketing specialist who has developed Islamic projects in Central Asia. He has worked on projects such as Sajda App, Hickmet Travel, EC Pascal, as well as KEX Group, Karak Home, and others.
Head of Marketing
Nurdaulet Ospanbekov
Compliance & Money Laundering Reporting Officer
An expert in law and Islamic finance with international education and experience. CEO of CSQ Law KZ, a legal firm registered in Malaysia. Holds a Master of Laws degree from the University of London (UK). Certified as AAOIFI CSAA (Shariah Advisor and Auditor) and AQIF (Malaysia), confirming his high level of competence in Shariah compliance and auditing.
Araylym Sagyntay
A certified auditor with 14 years of experience in tax and internal audit, formerly COO of an international holding, holds a Master’s degree in Accounting and Audit, author of the book “Business.kz”, ensuring financial transparency and Shariah compliance at AJR.
Internal Auditor
Shareholder
Experienced entrepreneur and executive with over 20 years of experience. Has led companies in Kazakhstan and international projects, including Air Astana. Specializes in business development, operational management, and financial processes.
Yernar Aizharikov
Chief Risk Officer
Risk Manager with experience at Halyk-Life and BCC Invest. Specializes in risk analysis, VaR, and investment limits. Holds a Master’s degree in Financial Risk Management and is a CFA Challenge participant.
Zhadyra Baigeldinova
AJR Legal Counsel | Specialist in IP/IT and Corporate Law
Experienced lawyer with expertise in intellectual property, contract, and corporate law. Founder of ZAN Legal Group. Has represented international clients, registered over 25 trademarks, handled litigation, and supported IT businesses. Previously served as Corporate Secretary at Capital Bank Kazakhstan.
Diana Meirbekova
Member of the Sharia Supervisory Board
A certified Shariah advisor (AAOIFI, INCEIF) with over 15 years of experience in Islamic finance. Participated in the development of Islamic finance legislation for the AIFC and the Republic of Kazakhstan, and served on the AIFC Central Shariah Advisory Council. Graduate of Cairo University.
Aidar Zhanturin
Dr. Ziyaad Mohamed
Chairman of the Shariah Supervisory Board
International expert with 25+ years of experience in Islamic finance, Shariah consultancy, and fintech. World Bank consultant, member of 12+ Shariah boards, author of 90+ scholarly works, and recognized as “International Personality in Islamic Finance” (2023). He actively contributes to the global development of Islamic finance.
Ahmad Abu Yahya
Member of the Sharia Supervisory Board
An expert in Islamic finance and Sharia compliance. He advises financial institutions on Islamic banking, Murabaha, and interest-free financing. At AJR Finance, he ensures Sharia compliance of financial products and contributes to the development of halal financing solutions.
Diyas Moldabay
More about Ajr (Halal BNPL)
Halal BNPL (Buy Now, Pay Later) follows Islamic finance principles, ensuring there is no interest (riba), no hidden fees, and transparent agreements. Instead of charging interest, a small fixed fee or profit margin is applied, making the transaction Shariah-compliant.
AJR is fundamentally different from bank installment plans because it is based on the classical Islamic financial instruments of Murabaha and Ijara. While banks provide financing with riba (interest), our service operates solely on Islamic trade principles, ensuring transparency and fairness in every transaction.
We do not charge penalties, late fees, or hidden commissions for overdue payments. However, to ensure timely payments, we use a guarantor system, where the client brings in a guarantor who shares responsibility for the debt. This helps prevent defaults while keeping our service fully halal.
You can purchase a wide range of products and services from our partner merchants. The complete list of available stores and categories can be found in our AJR mobile app
AJR is the only service in Kazakhstan offering fully halal BNPL installment plans. We are practicing Muslims creating a product for Muslims, strictly adhering to Islamic financial principles and eliminating all elements of riba, gharar, and maysir.
©2025 All rights reserved
Attention! Product in Development
AJR Finance is in the process of obtaining a license to provide Islamic financing. This website has been created to assess user interest. No financial services are provided until regulatory approval is granted.
For any inquiries: timur@ajr.kz
AJR Finance is in the process of obtaining a license to provide Islamic financing. This website has been created to assess user interest. No financial services are provided until regulatory approval is granted.
For any inquiries: timur@ajr.kz
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We will notify you about the product launch using the contact details you provided.
If you have any questions, feel free to reach out to us at timur@ajr.kz
If you have any questions, feel free to reach out to us at timur@ajr.kz
AJR Finance is in the process of obtaining a license to provide Islamic financing. No financial services are provided until regulatory approval is granted.