Azerbaijan, Baku, April 20 / Trend , S.Babayeva /
In May Azerpocht State Enterprise of the Ministry of Communications and Information Technologies of Azerbaijan plans to obtain a license from the Central Bank of the country for financial services within the Financial Services Development Project realized jointly with the World Bank. This will be a single license, which will cover all post offices of the State Enterprise.
"Currently, a new Charter of Azerpocht has been prepared in connection with its new functions and submitted to the State Committee for Management of State Property of Azerbaijan for approval," the Ministry said.
The Ministry said that after the approval of the new charter, Azerpocht will be one more step closer to obtaining a license.
The Ministry believes that Azerpocht can be profitably operating organization by 2011 as a result of Financial Services Development Project, the main component of which is the introduction of financial services in the postal network.
Azerpocht includes 59 post offices, two postal companies, two subsidiaries and eight communications hubs.
The Ministry plans to start providing financial services in autumn this year.
