Publication: Egyptian National Postal Organization : Review of Asset Management Operations
Date
2009-06
ISSN
Published
2009-06
Author(s)
World Bank
Abstract
This report presents the missions
observations and recommendations. The mission has not been
able to review the investment manual and current investment
procedures as the relevant documents have not been yet
forwarded by Egyptian National Postal Organization (ENPO) as
requested. ENPO was established in 1865 and since its
creation it has always had a clear mandate of public service
that remains dominant until today despite the growing
competitive pressures that the organization is facing in
most of its markets. ENPO's activities center around
two major categories: postal and other services, and
financial services. Postal services include letters (regular
and express mails) and parcels. Other services are public
services, such as bills payments (telecom, car insurance,
and taxes) and government services, including pension
payment and government money orders. ENPO currently holds 18
million savings accounts, against 8 million for the rest of
the banking sector, making it the first financial
institution in the country in terms of number of accounts.
In terms of deposits however, ENPO remains under 10 percent
which is typical for postal operators whose customers are
usually low-income households with small savings, therefore
the large number of accounts does not translate into a large
amount of total savings. ENPO provides daily interest
accounts, and postal savings passbook. More recently, it
introduced the postal investment book with guaranteed principal.
Citation
“World Bank. 2009. Egyptian National Postal Organization : Review of Asset Management Operations. © Washington, DC. http://openknowledge.worldbank.org/entities/publication/7bf612d9-13cf-5409-bbef-3205f28184bb License: CC BY 3.0 IGO.”