Tashkent, Uzbekistan (UzDaily.com) -- The national payment system HUMO will be privatized in accordance with the resolution of the President of Uzbekistan on additional measures to reduce state participation in the economy from 19 April 2024.

According to the document, Humo is included in a list of 247 companies where state shares or stakes should be put up for public auction.

Currently, 100% of the state share in Humo belongs to the State Assets Management Agency (SAMA).

In November 2023, according to the presidential resolution, 100% of the state share in Humo was transferred from the Main Informatization Center of the Central Bank to AUGA.

The national payment system Humo was created in September 2018 in response to a major software failure in the then only processing center Uzcard, which is a private entity.

Then the need was expressed for having a state processing center to ensure the security of the national payment system and prevent monopoly dominance of one system.

According to the Central Bank, as of 1 March 2024, there are more than 47.17 million plastic cards in circulation in Uzbekistan.

According to Humo, the national payment system has issued more than 23 million cards

There are more than 200 thousand payment terminals and more than 12,000 ATMs for cash withdrawals throughout the country.