MICROCAPITAL BRIEF: Postal Service Azerpoçt to Provide Microcredit in Azerbaijan

Azerpoçt, Azerbaijan’s government-backed postal service provider, reportedly intends to apply for a license to provide microcredit services from the Central Bank of Azerbaijan. This license would allow Azerpoçt to provide a range of services including the issuance of microloans “through the mediation of banks and without a banking license” [1]. These offerings will be added to several financial services already provided by Azerpoçt, including debit cards, currency exchange, utility payments and money transfers. Azerpoçt has been considering applying for this license since at least 2010, as was reported by MicroCapital at that time.

Azerpoçt has approximately 1,600 branches in the country.

By Juan Blanco, Research Associate

About Azerpoçt

Azerpoçt was founded in 1999 by order of Azerbaijan’s Ministry of Communication. In addition to postal services, the organization provides financial services including debit cards, currency exchange, utility payments and money transfers. As of 2014, Azerpoçst had approximately 1,600 branches in the country.

Sources and Additional Resources

[1] Trend, “Azerbaijan`s Postal Office prepares for granting micro loans,” by Huseyn Valiyev, April 2014, http://en.trend.az/regions/scaucasus/azerbaijan/2265228.html

MicroCapital Story, April 16, 2013, “Indian State of Andhra Pradesh, Bharat Sanchar Nigam Limited (BSNL) to Implement Mobile Money Service via Post Offices,” https://www.microcapital.org/microcapital-brief-indian-state-of-andhra-pradesh-bharat-sanchar-nigam-limited-bsnl-to-implement-mobile-money-service-via-post-offices/

MicroCapital Story, February 25, 2013, “Nigerian State of Borno to Pilot National Financial Inclusion Initiative Via Post Offices,” https://www.microcapital.org/microcapital-brief-nigerian-state-of-borno-to-pilot-national-financial-inclusion-initiative-via-post-offices/

MicroCapital Story, December 13, 2010, “Azerbaijan’s Postal Operator to Offer Microcredit Starting in 2011,” https://www.microcapital.org/microcapital-brief-azerbaijan’s-postal-operator-to-offer-microcredit-starting-in-2011/

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