Nagad shares Tk 3.32cr revenue with postal department

The mobile financial service Nagad, the most successful service of the Bangladesh Post Office in terms of revenue, handed over Tk 3,31,94,877 to the authority for the fiscal year 2020-21 as its share.

As per the agreement, the postal department is entitled to 51 per cent of the total revenue generated from the services of Nagad and remaining 49 per cent goes to Nagad Limited, said a press release on Monday.

Earlier, in the financial year of 2019-20, the postal department received Tk 1.12 crore from Nagad, reads the release.

After receiving the cheque at a recent function in the secretariat, Secretary of the Ministry of Posts and Telecommunications Md Afzal Hossain said the postal department and Third Wave Technologies Limited launched Nagad in 2017 under an agreement and reached in a better stage after overcoming various ups and downs.

“Nagad has established a strong position among all the mobile financial services in the country. The customers and income of Nagad are increasing day by day. Prime Minister herself started the transaction of Nagad with Tk 10,000. I believe that Nagad will play a huge role in serving the people and will contribute to building a cashless society,” Afzal Hossain added.