Tashkent, Uzbekistan (UzDaily.com) —  The Kazakhstani company Kaspi.kz has announced its exit from the process of privatizing the National Interbank Processing Center Humo. This was confirmed in the company’s official statement.

It is recalled that in August 2024, Kaspi.kz sent a non-binding letter of intent to Uzbekistan’s Agency for State Asset Management (AUGA), expressing interest in participating in the privatization of Humo.

However, in its latest communication, the company stated, "At this time, we are no longer participating in this process."

Kaspi.kz also emphasized the rapid economic growth of Uzbekistan and noted the attractiveness of the reforms being implemented by the government. The company expressed its intention to continue exploring opportunities to participate in the country’s digital transformation.

The privatization process of Humo began in July 2024. As part of this, the government plans to sell 100% of its stake in the company’s charter capital.

Eight investors from Europe and Asia applied to participate in the privatization, six of which were allowed to proceed to the next stage.

The National Payment System Humo was created in September 2018 in response to disruptions in the operations of the private processing center Uzcard. The main goal of establishing the state-owned processing center was to ensure the security of the national payment system and prevent monopolization.

As of October 2024, the number of HUMO cards exceeded 30 million.