Egyptian National Postal Organization : Postal Financial Services and Access to Finance
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World Bank, Washington, DC
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ENPO is an organization employing 48,000
staff and operating a network of more than 9,000 access
points (of which 3,500 post offices, 6,500 agencies, of
which 1,500 are currently active). A commercial entity with
management autonomy, ENPO is primarily a provider of basic
financial services. Other services are mail (regular and
express), parcels and Government services. Postal financial
services, with three main business lines (savings, payments
and giro services) and 15 million savings accounts, generate
around 50% to 60% of ENPO s total revenue, and occupy an
estimated 15% of ENPO s staff. Although available accounting
and financial information are limited, it seems that postal
financial services are operated at a profit. For ENPO which
is currently in a transition phase from an
administration-type of organization, moving towards a
corporate-type of organization, the strategic option will
play as an accelerator of change (in case the Government
decides for a drastic move towards bancarization) or as a
consolidator of incremental reform (in case the Government
opts for a progressive approach, potentially using
alternative approach to grab the business opportunities of
growth, but likely avoiding social tensions within the
organization). In any case, moving forward the postal
financial services agenda will call for (i) a review of the
legal, regulatory and institutional set-up, (ii) building
capacity in the network and assessing the return on
investments, (iii) rapidly identifying the postal financial
services as a business unit within the organization and
assess its contribution to profit, as well as (iv) getting a
better understanding of the cost structure so as to enable
ENPO to be in a strong position during negotiations of
service level agreement.
Palabras clave
ACCESS FEE, ACCESS POINTS, ACCESS TO FINANCE, ACCESS TO FINANCIAL SERVICES, ACCESS TO FINANCING, ACCESSIBILITY, ACCOUNT HOLDER, ACCOUNT MANAGEMENT, ACCOUNTABILITY, ACCOUNTING, ACCOUNTING STANDARDS, ACCOUNTING SYSTEMS, AFFILIATES, AGRICULTURAL CREDIT, ASSET MANAGEMENT, ATM CARD, AUDITING, AUTOMATIC TELLER, AUTONOMY, BALANCE INQUIRIES, BALANCE INQUIRY, BANK ACCOUNT, BANK ACCOUNTS, BANK BRANCH, BANK BRANCH NETWORK, BANK BRANCHES, BANK CREDITS, BANKING REFORM, BANKING REGULATION, BANKING SECTOR, BANKING SYSTEM, BOARDS OF DIRECTORS, BORROWING, BUSINESS ACTIVITY, BUSINESS DEVELOPMENT, BUSINESS MANAGEMENT, BUSINESS OPPORTUNITIES, BUSINESS PLAN, BUSINESS STRATEGIES, CAPACITY BUILDING, CAPITAL MARKET, CAPITAL MARKETS, CASH FLOW, CASH PAYMENTS, CASHLESS TRANSACTIONS, CHECKING ACCOUNT, CHECKING ACCOUNTS, CHEQUE PAYMENTS, CIVIL SERVICE, CLEARING HOUSE, CLEARING HOUSES, CLEARINGHOUSES, COMMERCIAL BANK, COMMERCIAL BANKS, COMMERCIAL TRANSACTIONS, CONSUMER FINANCE, CONTRACTUAL SAVINGS, CORPORATE FINANCE, CORRESPONDENT BANKS, CREDIT CARDS, CREDIT PRODUCTS, CREDIT PROVIDERS, CREDIT TRANSFERS, CURRENCY EXCHANGE, CURRENT ACCOUNTS, CUSTOMER BASE, CUSTOMER RELATIONS, CUSTOMER SERVICE, DEBIT CARD, DEBIT CARDS, DEPOSIT, DEPOSIT MOBILIZATION, DEPOSITORS, DEPOSITS, DIVERSIFICATION, E-COMMERCE, E-GOVERNMENT, ECONOMIC GROWTH, EDUCATION LEVEL, EQUITY PARTICIPATION, EXPENDITURE, FARMERS, FINANCES, FINANCIAL ACCESS, FINANCIAL ANALYSIS, FINANCIAL ASSETS, FINANCIAL EXCLUSION, FINANCIAL INSTITUTION, FINANCIAL INSTITUTIONS, FINANCIAL INTERMEDIATION, FINANCIAL MARKETS, FINANCIAL PRODUCTS, FINANCIAL REGULATOR, FINANCIAL SECTOR REFORM, FINANCIAL SERVICE, FINANCIAL SERVICES, FINANCIAL SERVICES PROVIDER, FINANCIAL SERVICES PROVIDERS, FINANCIAL SUPPORT, FINANCIAL SYSTEM, FOREIGN CURRENCY, FOREIGN EXCHANGE, FORMAL FINANCE, FORMAL FINANCIAL SECTOR, FORMAL FINANCIAL SERVICES, FORMAL SAVINGS, GOVERNMENT SECURITIES, HIGH INTEREST RATES, HOME OWNERSHIP, HOUSEHOLDS, HOUSING, INCOME GROUPS, INEQUALITY, INFORMATION SYSTEM, INFORMATION SYSTEMS, INFORMATION TECHNOLOGY, INITIAL DEPOSIT, INSURANCE, INTEREST MARGIN, INTEREST RATE, INTEREST RATES, INTERNAL CONTROLS, INVESTMENT BANK, LACK OF COLLATERAL, LEVEL PLAYING FIELD, LIABILITY MANAGEMENT, LIMITED ACCESS, LOAN CLASSIFICATION, LOAN LOSS PROVISIONS, LOAN SIZES, MANAGEMENT INFORMATION SYSTEMS, MARKET DEVELOPMENT, MARKET DISCIPLINE, MFIS, MICRO CREDIT, MICRO FINANCE, MICRO-CREDIT, MICRO-LOANS, MICROFINANCE, MICROFINANCE INSTITUTION, MICROFINANCE INSTITUTIONS, MIGRATION, MONEY ORDERS, MONEY TRANSFER, MONEY TRANSFERS, MONEYLENDERS, MORTGAGE, MORTGAGE MARKET, MORTGAGE MARKETS, MUNICIPALITIES, MUTUAL FUND, MUTUAL FUNDS, NATIONAL BANK, NATIONAL POSTAL, NET SALES, NEW MARKET, OPERATIONAL COSTS, OUTREACH, OVERDRAFT, PARCELS, PARTNER BANK, PAYMENT COLLECTION, PAYMENT SYSTEMS, PAYMENTS SERVICES, PENSIONS, POST, POST OFFICE, POST OFFICE SAVINGS BANK, POST OFFICES, POSTAL BANK, POSTAL BANKS, POSTAL FINANCE, POSTAL FINANCIAL SERVICES, POSTAL ORGANIZATION, POSTAL SAVINGS, PRIVATE BANKS, PRIVATE SECTOR BANKS, PRIVATIZATION, PRODUCTIVITY, PROFITABILITY, PUBLIC BANKS, PUBLIC-PRIVATE PARTNERSHIP, REGULATORY FRAMEWORK, REMITTANCE, REMITTANCES, REPAYMENT, RESERVE REQUIREMENTS, RETAIL BANKING, RETAIL BANKS, RETURN ON INVESTMENT, RETURN ON INVESTMENTS, RISK MANAGEMENT, RURAL CREDIT, RURAL CREDIT COOPERATIVES, RURAL FINANCIAL SERVICES, SAFETY NET, SAVINGS, SAVINGS ACCOUNT, SAVINGS ACCOUNTS, SAVINGS BANK, SAVINGS PASSBOOKS, SAVINGS PLANS, SAVINGS PRODUCT, SECURITIES, SMALL LOAN, SMART CARDS, SOCIAL DEVELOPMENT, SOCIAL SECURITY, SOCIAL SERVICES, SOLVENCY, SOURCE OF INFORMATION, SUBSIDIARIES, SUBSIDIARY, SUPERVISORY FRAMEWORK, TAX EXEMPTION, TAX EXEMPTIONS, TECHNICAL ASSISTANCE, TECHNICAL SUPPORT, TRANSPORT, UNION, URBAN AREAS, WAREHOUSES