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The takeover of toxic assets by the government at zero cost and the corresponding write- down of assets will create transparency, avoid the high expense of pricing distressed assets, and will insure that shareholders are the first ones to bear the cost of failure. 27 The risk of moral hazard will also be effectively limited. A zero-cost acquisition is also justified based on the fact that the active management of the troubled assets is impaired by their complex structure. This approach will also keep the bad bank’s initial capital requirements at a minimum | THE WORLD BANK The Role of Postal Networks in Expanding Access to Financial Services Volume II Regional Studies Africa Asia Europe and Central Asia Latin American and the Caribbean Middle East and North Africa World Bank Global Information and Communication Technologies Department ING Advisory 2004-2005 The Role of Postal Networks in Expanding Access to Financial Services Worldwide Landscape of Postal Financial Services Africa Region The World Bank Group Global Information and Communication Technology Postbank Advisory ING Bank Postal Policy INGii FINANCIAL INSTITUTIONS Author s Note This section discusses the landscape of postal networks in the African region1 and their current role of postal networks in providing access to financial services. The landscape is intended to serve as a basis to assess the potential role to expand access to financial services. For some aspects and some countries data did not seem to be available or was available only to a limited extent. In particular this was the case for data on the role of the postal networks in cashless payment systems the significance of the postal financial services compared to monetary aggregates and the details of the financial services rendered through the post offices. For several countries Sudan Central African Republic Mali and Sierra Leone data on the services and their organizations was not yet available. On the other hand in the course of the desk research in 2004 other countries that were not included in the list of 24 countries were found to have postal networks with an active role in financial services e.g. Angola Burundi Mozambique Ethiopia and Madagascar. While this African regional landscape can stand alone it is an integral part of this large study of the potential of postal networks to coordinate with financial service providers in 5 regions Africa Asia Eastern Europe and Central Asia Latin America and the Caribbean and the Middle East and Northern Africa and 7 countries Egypt Kazakhstan Namibia
