USD 1.7

Baku 25 °C

Paid news

AZ RU EN FA FR

Dark mode

POLITICS

NEWS

World

Economics

Sport

Culture news

Analysis

Blogs

Company

TOP 10

© 2004 - 2026 All copyright are reserved.

Finance

Home page

Finance

Azeri Post will soon be licensed for financial services

03 September 2009 17:03 (UTC +04:00)

Baku. Aynur Veliyeva â€“ APA-Economics. As part of the Financial Services Development Project between the World Bank and the Government of Azerbaijan, the Central Bank is due to grant a license for financial services to Azeri Post, an arm of the Communications and Information Technologies Ministry of Azerbaijan.

Elman Rustamov, Chairman of the Central Bank of Azerbaijan, said the parties are in negotiations and the license will be issued by the end of this year.

The project is believed to help Azeri Post cut costs through the use of its resources and boost profit through the provision of financial services, like money transfers.
Financial Services Development Project between the Government of Azerbaijan and the World Bank aims to facilitate improvement of the access of the rural population to financial services and improvements in the financial architecture and a component for Azeri Post to build the financial service capacity in rural areas that are presently undeserved or not served by the banking system and to improve access to basic business infrastructure and for delivery of Government services.
The cost of the project is $17.5 million, of which $12.5 million will be allocated by the World Bank and $5mln by the Government of Azerbaijan. The project will be complete by the end of 2008.
Azerbaijan has about 1,600 post points, of which about 1,400 are post offices and the rest are post agents.
By early 2009, 1200 post points are expected to make available financial services.

Dark mode

POLITICS

NEWS

World

Economics

Sport

Culture news

Analysis

Blogs

Company

TOP 10

© 2004 - 2026 All copyright are reserved.

Finance

Azeri Post will soon be licensed for financial services

Finance

Azerbaijan's insurance market grows by nearly 2% this year

Central Bank of Azerbaijan preparing amendments to compulsory insurance regulations

Azerbaijan's insurance market doubles over past four years

Central Bank of Azerbaijan preparing new development strategy for insurance sector

NEWS FEED

ATTENTION!

ATTENTION!

ATTENTION!