Azerpocht Plan to Launch Bank Services by Year-End

Azerbaijan, Baku, 27 May / Trend corr. S.Babayeva / Azerpocht state venture at the Comunication and IT Ministry of Azerbaijan will start rendering bank services by the end of this year, the organization reported.

"The company will render services to introduce software within the framework of the project 'Development of financial services'," state venture said.

Previously, the consortium Hewlett Packard, Colvir and Sinam was announced the winner of the tender on purchuase of postal-financial automated operation system.

The system includes many modules on financial and postal issues. Financial modules include - payments, deposit, treasury, management of assets and liabilities, informational management system and automated account book. Postal modules are the system of postal orders including international and atomization of postal orders.

The modules of automated postal services and money orders are expected to be put into operation by October.

The cost of the project 'Development of financial services' is estimated at $17.5mln. The World Bank will allocate $12.25mln and rest part will be paid by the Azerbaijani government.