Postal Digest: Brazil strike continues; VAT changes in UK and Latvia
More postal news from around the world – including news from Brazil, the UK, Latvia, Iran and Saudi Arabia.
Read MoreTag: Iran Post
Iran Post Company to join Bourse
The government has agreed to offer shares in Iran Post Company in the Bourse, the company revealed.
Read MoreIran to privatize part of its state-run postal services
Iran’s government charged the Ministry of Communications and Information Technology with forming a government-run postal organization, which will take over some of the services offered by the existing state-controlled Iran Postal Service Company
Read MoreJapan PB resumes remittance service to Iran
Japan Post Bank announced here on Tuesday that it will continue remittance service to Iran, despite the gossips heard regarding the suspension of services to Iran.
Dispatching the remittances services will be continued until Aug. 2008, according to the contract between the sides and the bylaw of the Universal Postal Union (UPU) and the guidelines of the Postal Financial Services Group (PFSG) which was coordinated on Aug. 9, 1999.
The reason the bank cited about the formerly news of suspension was the US sanctions against Iranian banks from October 25. Japan Post Bank said that intermediary banks in the chain to its Iran transfers were unable to continue dealing with the three largest state-run Iranian banks, as a result of these sanctions.
This was an unusual move for Japan, which has maintained cordial relations with Iran after the Islamic Revolution in 1979. Though numbers are disputed, a large number of Iranians are reported to live in Japan. The number of remittances to Iran processed by the Post Bank was around 200 annually, with a value of around USD 450,000.
Japan Post Bank will disperse risks and diversify earnings sources, by diversifying means of investments (into trading of derivatives, acquisition and sales of monetary credits, syndicated loans, securitized products, beneficiary rights, and investments in stocks), while controlling interest rates-associated risks appropriately and will strengthen channels of post office networks, by providing its infrastructure and sales support tools, improve the compliance system, help improve quality and enhance training programs.
Read MorePostal service privatization scheme on the desk
The Islamic Republic of Iran Post Company has prepared a comprehensive plan based on which the company will be ready for transfer to the private sector by the year end, noted on Tuesday the company’s director general Mohammad-Hassan Mohebbian.
Economic committees tasked with devising a plan of action for achieving the objective -privatization of the company – will be set up in the next week, he said.
The official who was addressing the 19th session of the Post Company directors, said that the privatization issue would involve all post-related affairs of the nation. He commented that extensive efforts were underway to, in the near future, improve and enhance the services offered by the company.
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