Uzbekistan has commenced the privatization of the National Interbank Processing Center (HUMO), aiming to sell 100% of its state share through a public invitation to negotiations, as stipulated by Article 22 of the law of Uzbekistan on privatization of state property, according the State Assets Management Agency of Uzbekistan (SAMA).
SAMA of Uzbekistan has appointed Deloitte International Company as the consultant for this significant project. The National Interbank Processing Center, integral to Uzbekistan's payment system, operates under the HUMO payment system for bank card transactions within Uzbekistan and internationally. It holds a license from the Central Bank of Uzbekistan, enabling it to function as a payment system operator. The Center’s authorized capital stands at UZS 155.4bn ($12.3mn).
The privatization process will unfold in three stages: Express of Interest, Non-Binding Bids, and Binding Bids. In the final stage, bidders must secure their proposals with a guaranteed payment of at least 1% of the proposed binding bid amount. Expressions of Interest, which can be submitted in Uzbek, Russian, or English, are due by 18:00 (GMT+5) on August 22, 2024.
In line with Uzbekistan's privatization programs, the State Assets Agency has outlined the sale of the HUMO through a transparent public invitation. Deloitte, part of the Big 4 accounting firms, is responsible for overseeing this process.
The HUMO payment system, a vital part of the center, supports over 27mn issued HUMO cards, more than 210 thousand terminals, and over 6.4 thousand ATMs across the country.
The privatization process invites all interested parties to participate, starting with the Expression of Interest phase. Participants must provide a brief overview of their business, including tax identification number (TIN), type of activity, and future plans for the center if acquired. Information about shareholders with more than 5% ownership, ultimate beneficiaries, and financial statements for the past three years must also be included.
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