Azerbaijan, Baku, Nov. 10 / Trend H.Valiyev /
Azerpoct, the Azerbaijani national postal operator, became a member of the currency section of the Baku Interbank Currency Exchange (BBVB), the Exchange reported.
The Azerpoct applied for membership in the BBVB currency section in late October.
The Central Bank of Azerbaijan (CBA) has issued permissions for provision of the financial services to 426 offices and 41 postal branches of the Azerpoct.
Azerpoct has all legal rights for the provision of financial services to the public. Today, the operator is allowed to provide five of the seven existing financial services. These include opening and managing accounts, money transfers, issuance of debit card transactions for buying and selling currencies on the order book and collection of cash and other valuable means.
The provision of two more additional services - taking deposits and issue of credit cards will be revised in 2011.
Azerpoct hopes to compete seriously with players on the country's banking market. Today, 47 banks operate in Azerbaijan, with over 600 branches. Meanwhile, Azerpoct has nearly 1,600 offices.