In August, Kaspi.kz expressed preliminary interest in the privatization by submitting a non-binding letter of intent to Uzbekistan’s State Assets Management Agency. However, the company has since opted to step back from the process.

“We have decided not to proceed with this opportunity at this time. Uzbekistan's economy is developing rapidly, and the government is implementing an attractive reform agenda… We will continue to explore opportunities to participate in Uzbekistan’s exciting digital transformation,” Kaspi.kz stated.

Despite withdrawing from this specific initiative, Kaspi.kz reaffirmed its interest in Uzbekistan's burgeoning digital economy and remains open to future opportunities within the country.