Tag: Emirates Post

Emirates Post hikes post box fees

Posted by | Jan 31, 2008 | |

The Emirates Post (EP) has increased the annual fees of P.O. boxes, both individual and commercial. The revised fees came into effect on January 1, according to EP officials.

Individual post boxes now cost Dh200, instead of the previous cost of Dh150, and the fee for the commercial post box has been doubled from Dh250 to Dh500.

Officials added that the increase has been imposed in order to cover the additional expenses of the services provided by the organisation.

“A circular with regard to the price hike was sent to us earlier this year. But then it is a minimal hike and we don’t think that the income of people or companies wishing to have a P.O Box number is going to be affected,” said representatives at the Al Khor Post Office.

In a press release issued by the Emirates Post on the issue, officials said that lately, the EP had spent a lot of money on introducing new services.

“EP has modernised its infrastructure. It has set up the Post Exchange Centre at Al Ramool in Dubai. A document centre is also going to be established soon,” the release said.

“Last year, EPhad signed an agreement with a Japanese company to export and set up an advanced system to handle the letters, at a cost of Dh14 million. In the next four years, the UAE and specifically Dubai is expected to receive more than a million letters daily due to the increasing number of companies and organisations in the UAE. Modern system is the only way to deal with post parcels and distributing them in a short time,” added officials.

The post offices network has expanded to include 87 branches around the UAE. Studies and researches are being conducted to modernise that network to supply customers with the best services, officials added.

“We signed a number of contracts and agreements that cost us a lot. The charges of post services, transportation and other relevant services have increased all over the world. This directly affected the charges imposed on our services. Besides, we are always promoting our services of post deliveries to post boxes and this naturally costs more,” the authorities opined.

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Agreement signed to boost emiratisation in postal sector

Posted by | Jan 30, 2008 | |

Emirates Post holding group and Emirates Nationals Development Programme (ENDP) have signed a Memorandum of Understanding (MoU) to boost emiratisation in the mail sector through a series of measures, including a three-month postal diploma programme, to be conducted by the Emirates Post training development centre, Dubai.

According to the MoU, the postal diploma programme will be for three months, at the end of which the candidate will receive a diploma endorsed by Emirates post holding group.

The new initiative, which is in response to the directives of His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of UAE and Ruler of Dubai, on creating new opportunities for Emirati youth in various fields, especially in the private sector, was unveiled at a press conference addressed by Minister for Public Sector Development and Chairman of Emirates Post holding group Sultan Bin Saeed Al Mansouri, Chairman of ENDP Ahmad Humaid Al Tayer and President of Emirates Post holding group Abdullah Al Daboos.

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Emirates Post to apply for Islamic bank licence

Posted by | Jan 29, 2008 | |

bank this year, its top executive said. “We will apply for a licence in the next six months,” Emirates Post Holding Group President Abdulla Al Daboos told Emirates Business.

Although the UAE Central Bank has put on ice the issuance of any new licences, it has given the nod to Abu Dhabi-based Al Hilal Bank, taking the total number Islamic banks to seven in 2007. Moreover, due to the popularity of this form of banking, a number of banks have set up Islamic banking arms.

Gulf companies are expected to raise about USD 10bn in 83 IPOs over the next three years, said Abu Dhabi-based Gulf Capital.

Emirates Post has been consolidating its presence in the financial sector. In a bid to tap the low-income and “unbanked” segment in the UAE, it tied up with Noor Islamic Bank last week. More than two million of the 4.4m population of the UAE is unrepresented in the country’s banking system, Al Daboos said.

The new company will have a capital of Dh500m and will focus on launching debit cards, Islamic insurance, credit cards, micro-financing, salary payments, remittances and currency exchange.

Emirates Post also owns 60 per cent of Wall Street Exchange Centre, with the remaining 40 per cent held by the India-based House of Patels.

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Emirates Post and Noor Islamic Bank sign MOU to Offer Financial Services for Low Income Segment

Posted by | Jan 20, 2008 | |

Noor Islamic Bank PJSC (“Noor”) and Emirates Post Holding Group have signed a Memorandum of Understanding (MoU) to establish a company that will offer banking services to the low income segment of the UAE population.

The new venture is in line with recent Federal Government initiatives aimed at the low income segment, and will develop specific products and services to cater to their needs.

The company will provide Sharia-compliant financial services, targeted at the low income and unbanked sectors of the population. It will leverage Noor Islamic Bank’s expertise in the provision of Sharia-compliant financial services and Emirates Post’s country-wide reach and brand reputation to offer a comprehensive basket of financial services.

Launched two weeks ago, Noor Islamic Bank has already established strategic partnerships with public sector institutions as well as the private sector. It is fast developing a reputation for being a modern, innovative and progressive Islamic financial institution, reflecting the core values of the UAE.

The proposed activities of the joint venture will include debit cards, Islamic insurance, credit cards, micro-financing, salary payments, remittances and currency exchange.

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Emirates Post plans USD 408m Asia acquisitions

Posted by | Jan 20, 2008 | |

Emirates Post, the state-owned UAE monopoly postal service, said it is in talks to spend as much as 1.5 billion dirhams (USD 408.4 million) on acquisitions in Asia, including Malaysia and Singapore.

“We want to expand our network of distribution, which is why we are interested in Asia because … it completes our market,” the chairman of Emirates Post, Abdulla al-Daboos, told Reuters in Dubai on Sunday on the sidelines of a meeting with reporters.

“Our investment will be between 1 billion and 1.5 billion dirhams over five years on acquisitions in Asian companies in postal and financial services,” Daboos said.

Daboos did not identify any target companies. Other countries include Thailand and Indonesia, he said.

Empost plans to sell as much as a 40 percent stake in an initial public offering in the second-half, valuing the company at not less than 3 billion dirhams, al-Khaleej and Emirates Business reported this month, citing Daboos and Sultan al-Mansouri, Minister of Governmental Sector Development

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