Uzbekistan commenced the privatization of the National Interbank Processing Center, Humo. This decree lists Humo among 247 state enterprises slated for divestment through a public auction, Lex.uz reports.
A separate presidential decree on November 30 led to the transfer of a 100% stake in Humo from the Central Bank's Main Informatization Center to the State Assets Management Agency (UzSAMA). This transition aimed to eliminate potential conflicts of interest due to the centre's previous positioning within the Central Bank's structure.
Humo was established in September 2018 following a notable system failure at the then-monopolistic processor, Uzcard. The creation of Humo addressed the need for a state-controlled entity capable of enhancing payment system security, facilitating integrated payment infrastructure, and preventing the dominance of any single processing entity.
In 2023, the payment system operator reported a net profit of UZS 114.5 bn ($9.2 mn), a figure that doubles its earnings from the previous year. This financial uptrend is further underscored by a substantial increase in revenue, which climbed from UZS 113.8 bn ($1.1 mn) to UZS 216.4 bn ($17.4 mn), marking an impressive growth rate of 90.2%.
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