The stakes of commercial banks in the United Republican Processing Center LLC (electronic funds transfers system - UzCard) will be handed over to the State Assets Management Agency (SAMA) within a month. This is stipulated in the President’s March 18 decree on the further reduction of state participation in the economy and the expediting the privatization.
As of March 25, 51% stake in the company belong to the National Bank for Foreign Economic Affairs (NBU), 6% to Uzsanoatqurilish, 6% to Asaka Bank, 6% to Ipoteka Bank and 6% to Aloqabank.
The remaining 25% (6.25% each) are owned by four individuals - Mansur Usmanov, Kamron Akbarov, Timur Azadov and Obid Agzamkhodzhaev.
As reported in August 2020, the president’s son-in-law, Oybek Tursunov, ceased to be the owners of founders of Uzcard. He became the owner of a 75% stake in May of the same year.
According to the Decree, the stake of banks in Tashkent Republican Stock Exchange - Asakabank, Xalq Bank, Uzsanoatqurilishbank and the NBU (all 6.3%) – shall be also transferred to SAMA.
The agency will also receive shares in the engineering company Qishloqqurilishinvest, Uzmetkombinat, Angren Logistics Markazi, Sredazenergosetproekt, Uzshahar Qurilish Invest and the Omonkhona resort.
