News 2012

Cash transfer: PM says integrate banking system, PO network

27 November 2012 (The Financial Express)

Prime Minister Manmohan Singh on Monday suggested that the banking system needed to integrate with the post-office network to bring in financial inclusion in the rural areas in order to make the government’s direct cash transfer scheme a success.

Read the rest of the article here.

Pos Malaysia sets up Islamic pawn broking business

25 June 2012 (Post & Parcel)

Pos Malaysia has agreed a deal with the Islamic bank Bank Muamalat Malaysia to form a joint venture to provide Islamic loans under the Ar-Rahnu system. The new company Pos Ar-Rahnu will offer Islamic pawn broking services in Malaysia’s network of more than 700 post offices.

Read the rest of the article here.

Post office eyes financial sector, to have ATMs for its account holders

4 April 2012 (The Times of India)

JAIPUR: Soon post offices in state will have ATMs too. A total of 23 head posts offices in the state have been identified where the ATMs will be installed by the department of post (DoP). As part of its modernization process, the department will initially set up the ATMs in Jaipur, Ajmer and Jodhpur regions. “It is a pilot project which has been initiated in five states”.
Read the rest of the article here.
Read also an article on the same subject here.

Zampost launches bank

28 March 2012 (Times of Zambia)

ZAMBIA Postal Services (ZAMPOST) has registered its micro finance company which will operate as Post Bank with an initial capital of K2.5 billion. The move is part of the company’s diversification process it has embarked on to streamline and improve its operations.
Read the full story here.

NamPost Savings Bank pulls N$1,6 billion

22 March 2012 (The Namibian)

SMARTCARD-BASED savings at NamPost Savings Bank has grown by just over 13 per cent from the 2009 to the 2010 financial years and stood at nearly N$1,6 billion at September 30 2010.
Read the full story here.

More Namibians have access to banking

12 March 2012 (The Namibian)

The majority of Namibians are no longer excluded from financial services, an independent survey has confirmed. […] Better financial access was driven largely by innovative, low-cost and safer products and services by NamPost. “NamPost has changed their product and strategy which has significantly driven product uptake: the physical savings book product was terminated and a biometric smartcard aimed at low-income users was introduced,” the survey said.
Read the full story here.
A detailed presentation of the FinScope Consumer Survey is also available here.

Banking on India Post

05 February 2012 (The Hindu Business Line)

If India Post were to encourage the private sector to ride piggyback on its network to promote its products, its deficit might prove to be less of a burden.
Read the full article here.
See also some information on the MicroSave website on the savings perceptions and preferences in India. Accessibility, security and trust are key assets of the Post while a perceived lack of return on savings is viewed as a weakness.

India Post to take on couriers, enter banking

02 February 2012 (The Hindu)

Union Communications and IT Minister Kapil Sibal, who also holds the charge of Department of Posts, has now turned his focus on expanding the scope of India Post to take on the growing challenge from private courier business and diversify into banking.
Read the full article here.


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