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Azerbaijani Central Bank ready to issue banking license to postal operator

Business Materials 13 April 2010 16:17 (UTC +04:00)

Azerbaijan, Baku, Apr.13 / Trend, I. Khalilova /

The Central Bank of Azerbaijan (CBA) plans to issue a license to conduct banking activity to LLC Azerpocht next week, CBA Chairman Elman Rustamov said.

"We have recently held discussions with the team within monthly meetings. The works are going very well and rapid connection of post offices to the national payment system of the Central Bank is observed," - Rustamov said.

At present, simultaneous connection of communications in those areas where there are none, is underway.

"We have an idea for the development of infrastructure in the direction of the villages, that is, bringing fiber optic lines to every village, every house. That would be a revolution - computerization and informatization of the whole territory and the population of Azerbaijan," Rustamov said.

If we manage to do it, we are ready to work together with the Communications and Information Technologies Ministry on this project. At present, the development of this idea is underway," Rustamov said.

Licensing of postal operator was possible as a result of allotting functions for conducting financial services. Azerpoct will be given a limited banking license, but in future it is expected to expand it.

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