The President of Uzbekistan has directed the complete transfer of the state's stake in Humo to the State Asset Management Agency. This decision, part of a broader presidential decree on digital consumer rights and technology-related offenses.
Reforming Payment Systems: Effective July 1, 2024, payment system operators and organizations must operate as joint-stock companies. The decree stipulates minimum authorized capital requirements to bolster financial stability:
- Payment system operators: UZS 50bn (over $4mn)
- Payment organizations: UZS 10bn ($812,752)
By July 1, 2025, the minimum capital for payment organizations will further decrease to UZS 20bn (over $1.6mn). These changes aim to fortify the financial sector in the digital age.
Humo and Uzcard Integration: July 2023 saw the successful integration of Humo and Uzcard payment systems. All commercial bank ATMs now accept cards from both systems, streamlining transactions and enhancing user convenience.
National Agency for Prospective Projects: The decree also delegates additional responsibilities to the National Agency for Prospective Projects. This includes regulating and developing e-commerce, organizing lotteries, and overseeing bookmaking activities.
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