Azerbaijan, Baku, March 17 / Trend H. Valiyev /
The Azerbaijani national postal operator, Azerpoct Ltd, will offer financial services to the population from the second half of 2010, Azerbaijani Communications and IT Minister Ali Abbasov said.
The minister said that today all operations, according to the contract signed between Azerpoct and the World Bank, have been implemented. Rendering of new services is a new stage of development for the Azerbaijan's postal operator.
The head of the department said that representatives of world postal operators, as well as a World Postal Union delegation will attend the presentation of the project.
Azerpoct Ltd has already applied to the Central Bank for a license.
The rendering of financial services will be possible thanks to an automated corporate information system established by Azerpoct, which is ready for a trial operation. At the moment, Azerpoct's automated system includes more than 200 post offices.
The operator has announced tenders and signed contracts for the purchase and installation of appropriate technical equipment.
At the initial stage, post offices will render limited banking operations, including cash transactions, money transfers and opening client accounts. Loans will also be offered but in the long-term.