Tashkent, Uzbekistan (UzDaily.com) -- Deloitte will consult the Uzbekistan Agency of State Assets (AUGA) in the privatization process of 100% state share in the charter capital of the National Interbank Processing Center (HUMO).

The Agency announced the selection of the professional consulting company to conduct the privatization process of HUMO in mid-June 2024.

According to the State Assets Agency, 8 proposals from local and international consulting companies were considered during the selection process. Deloitte was chosen for its competitive pricing proposal and significant experience in executing similar projects.

Deloitte will conduct an analysis of the payment systems market and their development prospects in Uzbekistan and the region, as well as perform comprehensive due diligence (tax, legal, financial, and environmental analysis) of the asset.

Deloitte’s specialists will prepare recommendations for an optimal marketing strategy, develop marketing materials (teaser, information memorandum, procedural letter, etc.), and organize the distribution of information materials among potential investors.

Additionally, Deloitte will oversee the privatization process of HUMO, including setting up a virtual data room (VDR), preparing the sales and purchase agreement, and supporting the entire sales process.

According to the resolution of the President of the Republic of Uzbekistan No. PP-381 from 30 November 2023, the National Interbank Processing Center LLC was transformed into a joint-stock company. The company’s shares were registered with the National Agency for Project Management on May 21, 2024.

As part of the registration, 155,448,748 ordinary shares with a nominal value of 1,000 soums each, totaling 155.4 billion soums, were issued, all of which are owned by the State Assets Agency.

The national payment system Humo was established in September 2018 in response to a significant outage at the then sole processing center Uzcard, which is a private entity. At that time, there was a need for a state processing center to ensure the security of the national payment system and prevent monopolistic dominance.

According to the Central Bank data 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 over 200,000 payment terminals and more than 12,000 ATMs across the country for payment and cash withdrawal purposes.