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Bangladesh postal department owns 51% stake in digital payment platform ‘Nagad’ says DG Post

Md. Siraj Uddin said the postal department and the ‘Nagad’ (Third Wave Technologies Limited) authority are now in the process of moving from the place of partnership to the ownership stage as per the instructions of Bangladesh Bank.

Dhaka: The Director-General of the Postal Department, Md. Siraj Uddin in a video message on Thursday said ‘Nagad’, a mobile financial service equally owned by the state.

The services run on the basis of revenue sharing with the postal department, which has brought about 5 and a half crore people in the country into financial transactions in just two and a half years.

He said, “The postal department signed an agreement with Third Wave Technologies Limited in 2017 and is providing‘ Nagad ’services on its basis.

Md. Siraj Uddin said the postal department and the ‘Nagad’ (Third Wave Technologies Limited) authority are now in the process of moving from the place of partnership to the ownership stage as per the instructions of Bangladesh Bank.

The postal department owns 51% and ‘’Nagad’ 49% on the basis of an agreement with the two parties. The matter is now awaiting approval under state law.

“Hopefully no one will mislead people unnecessarily by serving fabricated information on this issue.” He also called.

“Nagad’ is the new financial service provider of the centenary state postal department. The unimaginable success of the company in just two and a half years has given rise to jealousy among many, which is why many are conspiring with Nagad, ”said Md. Siraj Uddin.

Md. Siraj Uddin elaborated that, “There has been some news in many media about the trust cum settlement account. I mean, ‘Nagad’ always opens new bank accounts with the approval of the postal department. I think it’s an ongoing process. There is no reason for anyone to be confused by this. ”

Nagad, which has been credited with bringing various types of government allowances to digital platforms is now transacting an average of Tk700 crore daily.

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