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Tech ObserverBangladeshIndustryBangladesh: Nagad re-activates over 700 accounts

Bangladesh: Nagad re-activates over 700 accounts

The ‘Nagad’ authority immediately informed the concerned authorities including Bangladesh Financial Intelligence Unit (BFIU).

The ‘Nagad’ authority immediately informed the concerned authorities including Bangladesh Financial Intelligence Unit (BFIU).

Dhaka: In the wake of misuse of the refund system, more than 700 of the ‘suspended' , a mobile financial service,  accounts have been fully resumed.

The accounts were reactivated after several rounds of continuous screening and intensive scrutiny in consultation with the concerned authorities.

This information was given by ‘Nagad' on Monday. In recent times, some e-commerce platforms have noticed signs of inconsistent transactions, with some accounts automatically being ‘held' as a state-of-the-art ‘Nagad' technology to ensure customer safety.

The ‘Nagad' authority immediately informed the concerned authorities including Financial Intelligence Unit ().

Subsequent discussions and consultations with the authorities have resulted in a thorough screening and continuous audit process and the status-hold accounts have been automatically re-activated step by step on the basis of satisfactory results.

Similarly, steps have been taken to restore the status of the remaining accounts on the basis of satisfactory results by completing the verification and selection process in a very short period of time.

Customers are able to enjoy all the great services of ‘Nagad', including all kinds of transactions as usual, with the accounts already re-opened. ‘Nagad' is always working for the common man. ‘Nagad' is firmly committed to ensuring that people's money is not at the slightest risk.

Since its inauguration on March 26, 2019, the Postal Department's mobile financial service ‘Nagad' has been working to bring the financial transactions of the common man to the digital platform.

In the last two and a half years, ‘Nagad' has got about 5 crore subscribers. At the same time, the daily turnover has exceeded Tk700 crore.

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