World Bank2013-03-132013-03-132009-06https://hdl.handle.net/10986/12694This 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.en-USCC BY 3.0 IGOACCOUNTINGACCOUNTING STANDARDSACTIVE TRADINGAMOUNT OF RISKASSET CLASSASSET CLASSESASSET LIABILITY MANAGEMENTASSET MANAGEMENTASSET MANAGERSASSET PORTFOLIOAUDITSBALANCE SHEETBANK ACCOUNTSBANKING SECTORBANKING SYSTEMBONDSBUSINESS DEVELOPMENTCAPITAL MARKETCASH BALANCESCASH FLOWCASH FLOW ANALYSISCASH FLOWSCASH MANAGEMENTCENTRAL BANKCHECKSCORPORATE GOVERNANCECREDIT EXPOSURECREDIT MANAGEMENTCREDIT QUALITYCREDIT RISKCURRENT ACCOUNTSDEBTDEBT MARKETSDEFAULTSDEFICITSDEPOSITDEPOSIT ACCOUNTSDEPOSIT LIABILITIESDEPOSIT MOBILIZATIONDEPOSITORSDERIVATIVESDEVELOPMENT BONDSDIRECT INVESTMENTDOMESTIC BONDSDOMESTIC STOCKSEARNINGSELECTRONIC PAYMENTSELIGIBLE ASSETELIGIBLE INSTRUMENTSEQUITIESEQUITY INVESTMENTEXTERNAL ASSETFIDUCIARY RESPONSIBILITYFINANCESFINANCIAL AFFAIRSFINANCIAL INSTITUTIONFINANCIAL INSTRUMENTSFINANCIAL MANAGEMENTFINANCIAL MANAGEMENT SYSTEMSFINANCIAL MARKETFINANCIAL MARKETSFINANCIAL PORTFOLIOFINANCIAL PRODUCTSFINANCIAL REPORTINGFINANCIAL RISKFINANCIAL SERVICESFINANCIAL STATEMENTSFIXED INCOMEFIXED INTERESTFIXED INTEREST RATEFIXED RATEFOREIGN CURRENCIESFOREIGN STOCKSFUND INVESTMENTFUND MANAGEMENTGOOD GOVERNANCEGOVERNANCE STRUCTUREGOVERNMENT BONDSGROWTH RATEHOLDINGSHOUSEHOLDSHUMAN RESOURCESINCOME INSTRUMENTSINCOME SECURITIESINCOME STATEMENTINDIVIDUAL SECURITIESINFORMATION SYSTEMINFORMATION SYSTEMSINFRASTRUCTURE PROJECTSINSTITUTIONAL FRAMEWORKINSURANCEINSURANCE COMPANIESINTEREST RATEINTEREST RATESINTERNAL AUDITINTERNAL CONTROLINTERNATIONAL BEST PRACTICEINTERNATIONAL STANDARDSINVESTINGINVESTMENT ACTIVITIESINVESTMENT BANKINVESTMENT DECISIONINVESTMENT DECISIONSINVESTMENT FUNCTIONSINVESTMENT GUIDELINESINVESTMENT HORIZONINVESTMENT INCOMEINVESTMENT LOANINVESTMENT MANAGEMENTINVESTMENT MANAGERSINVESTMENT OPERATIONSINVESTMENT OPTIONSINVESTMENT POLICYINVESTMENT PORTFOLIOINVESTMENT PORTFOLIOSINVESTMENT PROCEDURESINVESTMENT PROJECTSINVESTMENT PROPOSALSINVESTMENT RESOURCESINVESTMENT RETURNINVESTMENT STRATEGIESINVESTMENT STRATEGYINVESTMENT TRANSACTIONSINVESTMENT TRUSTSLIABILITYLIABILITY MANAGEMENTLIQUIDITYLIQUIDITY RISKLOANLOAN PROGRAMLOCAL CAPITAL MARKETLOCAL CURRENCYLONG-TERM INVESTORSMANDATEMANDATESMARK-TO-MARKETMARKET CONDITIONSMARKET RISKMATURITIESMATURITYMONEY MARKETMONEY MARKETSMONEY ORDERSNATIONAL DEVELOPMENTNATIONAL INVESTMENTNATIONAL SAVINGSNEGOTIATIONSOPERATIONAL RISKOPPORTUNITY COSTSOUTSOURCINGPAYMENTS OF PRINCIPALPENSIONPENSION FUNDSPERSONAL SAVINGSPORTFOLIO MANAGEMENTPORTFOLIO MANAGERSPORTFOLIO RETURNPORTFOLIO RETURNSPORTFOLIO RISKPOST BANKPOST BANKSPOST OFFICEPOST OFFICE SAVINGPOST OFFICE SAVINGSPOST OFFICESPOSTAL BANKPOSTAL BANKSPOSTAL DEPOSITPOSTAL DEPOSITSPOSTAL SAVINGSPRIVATIZATIONPROCUREMENTPROFITABILITYPUBLIC ADMINISTRATIONPUBLIC INVESTMENTRATE OF RETURNREGULATORREGULATORY FRAMEWORKREMITTANCESRETURN ON ASSETSRETURN ON INVESTMENTSRETURNSRISK EXPOSURERISK MANAGEMENTRISK PROFILESAVINGS ACCOUNTSSAVINGS DEPOSITSSAVINGS PASSBOOKSAVINGS SERVICESSECONDARY MARKETSECURITIESSETTLEMENTSETTLEMENTSSMART CARDSSOCIAL SECURITYSOUND ASSETSOURCE OF INFORMATIONSTATE ENTERPRISESTATEMENTSTOCKSTECHNICAL ASSISTANCETECHNICAL SUPPORTTELECOMMUNICATIONSTRADESTRADINGTRANSPARENCYTREASURYTREASURY BILLSTRUST FUNDUNIONVALUE OF ASSETSVILLAGESVOLATILITYVULNERABLE GROUPSWorld Bank10.1596/12694