This report presents the missionsobservations and recommendations. The mission has not beenable to review the investment manual and current investmentprocedures as the relevant documents have not been yetforwarded by Egyptian National Postal Organization (ENPO) asrequested. ENPO was established in 1865 and since itscreation it has always had a clear mandate of public servicethat remains dominant until today despite the growingcompetitive pressures that the organization is facing inmost of its markets. ENPO's activities center aroundtwo major categories: postal and other services, andfinancial services. Postal services include letters (regularand express mails) and parcels. Other services are publicservices, such as bills payments (telecom, car insurance,and taxes) and government services, including pensionpayment and government money orders. ENPO currently holds 18million savings accounts, against 8 million for the rest ofthe banking sector, making it the first financialinstitution in the country in terms of number of accounts.In terms of deposits however, ENPO remains under 10 percentwhich is typical for postal operators whose customers areusually low-income households with small savings, thereforethe large number of accounts does not translate into a largeamount of total savings. ENPO provides daily interestaccounts, and postal savings passbook. More recently, itintroduced the postal investment book with guaranteed principal.
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