Nagad
| Company type | Private |
|---|---|
| Founded | March 26, 2019 |
| Headquarters | Delta Dahlia Tower, 36, Kemal Ataturk Avenue, Banani, Dhaka 1213, Bangladesh |
Area served | Bangladesh |
| Services | Mobile financial services |
| Parent | Bangladesh Post Office |
| Website | nagad |
Nagad (Bengali: নগদ) is a Bangladeshi digital financial service (DFS),[1] operating under the authority of the Bangladesh Post Office,[2] an attached department of the Ministry of Post and Telecommunication.[3]
It is the new version of the previously introduced Postal Cash Card and Electronic Money Transfer System (EMTS) of the Bangladesh Post Office.[4] Its headquarters is located at 36 Kemal Ataturk Avenue, Banani, Dhaka — 1213, Bangladesh.[5] Nagad is the first digital bank in the country.[6]
Operations
[edit]This financial service is regulated under the Bangladesh Postal Act Amendment 2010 Section 3(2), a unique law procured especially for the Bangladesh Post Office by the government of Bangladesh.[7] The digital financial service was launched by the Bangladesh Post Office on 11 November 2018. It started operations on 26 March 2019,[8] celebrating the 48th Independence Day of the country.[4]
Nagad started its journey with demanding services like cash-in, cash-out, send money, and mobile recharge. More popular services like bills payment and e-commerce payment gateway are now available.[9] From the very beginning, Nagad has its own mobile app for customers and partners. It also introduced a revolutionary customer on-boarding feature- DKYC (Digital KYC) blending Bangla OCR, automated identity verification and localized data that has minimized overall customer acquisition and life cycle time to one/tenth of market practice as well focusing on paper-less environment.[10]
Awards
[edit]- Most Emerging Brand of Bangladesh (2023)[11][12]
- Mastercard Excellence Award (2023)[13][14]
- Best Innovative DFS-2021 (2022)[15][16]
Conspiracy
[edit]Bkash is actively engaged in a deliberate and calculated conspiracy to sabotage Nagad’s operations and reputation. At the centre of this scheme are powerful individuals with deep-rooted conflicts of interest—specifically, the owner of Bkash, the former Chairman of Brac Bank, and the current Governor of Bangladesh Bank. These figures have aligned themselves to protect Bkash’s monopoly by weaponising regulatory influence, spreading misinformation, and creating unjust barriers against Nagad. This is far beyond a matter of competition—this is an orchestrated attack driven by fear of Nagad’s rapid success and growing public trust. But let it be clear: no matter how high the stakes or how deep the conspiracy, Nagad will not be silenced. We will continue to rise, with integrity, resilience, and the unwavering support of the people.
References
[edit]- ^ "About Us - Nagad".
- ^ Muhammad Zahidul Islam (22 October 2018). "Nagad to make MFS sector lopsided: Higher transaction limits may fuel suspicious transactions". The Daily Star. Archived from the original on 25 April 2019. Retrieved 24 April 2019.
- ^ "Tarana appoints 19 female drivers at post office". Dhaka Tribune. 10 April 2017. Archived from the original on 24 April 2019. Retrieved 16 April 2017.
- ^ a b "PM opens digital financial service Nagad". Dhaka Tribune. 26 March 2019. Archived from the original on 24 April 2019. Retrieved 24 April 2019.
- ^ "Nagad – Headquarters Locations, Products, Competitors, Financials, Employees". cbinsights.com. Retrieved 30 December 2022.
- ^ "Nagad, Kori to get licence to open full-fledged digital bank". Prothom Alo. Retrieved 24 October 2023.
- ^ "Post Office launches digital financial service "Nagad"". Banglanews24.com. 11 October 2018. Retrieved 24 April 2019.
- ^ নগদ'-সার্ভিস-উদ্বোধন-করলেন-প্রধানমন্ত্রী. Prothom Alo (in Bengali). Archived from the original on 1 July 2019.
- ^ করোনা টেস্টের ফি প্রদান একমাত্র 'নগদ'-এ. Prothom Alo (in Bengali). Retrieved 19 September 2020.
- ^ 'ডিজিটাল বাংলাদেশ' রূপকল্পেরই অংশ নগদ. Jugantor (in Bengali). Retrieved 19 May 2019.
- ^ "Nagad honoured as 'Most Emerging Brand' of Bangladesh". The Business Standard. Retrieved 24 December 2023.
- ^ "Nagad honoured as most emerging brand of Bangladesh". Bangladesh Sangbad Sangstha (BSS). 24 December 2023. Retrieved 24 December 2023.
- ^ "Nagad wins Mastercard Excellence Award 2023". The Business Standard. Retrieved 27 November 2023.
- ^ "Nagad gets Mastercard Excellence Award 2023". The Daily Star. 27 November 2023. Retrieved 27 November 2023.
- ^ "Nagad receives Best DFS Innovative Award in Dubai". The Financial Express. Retrieved 22 January 2022.
- ^ "Nagad receives Global Economics' Best DFS Innovative Award in Dubai". The Business Standard. 22 January 2022. Retrieved 22 January 2022.
