Nagad hands Tk4.5cr to Posts Directorate as revenue share

The mobile financial service Nagad handed over Tk 4,50,46,000 to the Posts Directorate for the fiscal year 2021-22 as its share.

Nagad authorities handed over the cheque for the said amount payable to the Posts Directorate at a programme in Dhaka’s Agargaon area on Wednesday, Nagad said in press release.

As per the agreement between Nagad and the Posts Directorate Bangladesh, Posts Directorate is entitled to getting 51 per cent of the revenue earned by Nagad. The remaining 49 per cent will go to Nagad. Earlier in the fiscal year 2019-20 and fiscal year 2020-21 Nagad handed over revenue Tk 1.12 crore and 3.31 crore respectively.

Secretary of the Posts and Telecommunications Division Md Khalilur Rahman received the cheque from Nagad’s Executive Director Md Shafayet Alam.

Posts and Telecommunications Minister Mustafa Jabbar, Director General of the Posts Directorate Md Harunur Rashid, and Nagad’s Founder and Managing Director Tanvir A Mishuk were present there.

In his speech, Posts and Telecommunications Minister Mustafa Jabbar said, `In my opinion, `Nagad’s existence has saved country’s thousand crore taka. In our country there is a system like when you are doing your job, people will try to pull your leg from behind. Nagad not only served the country but also created some enemies. Some people are trying to attack us for their own interests.’

Secretary of the Posts and Telecommunications Division Md Khalilur Rahman said, `There were enemies behind us and they will be. I do believe that enemies will not be vanished, this will continue. We have to work in between this.’ He said, `I do not see any dissimilarities between Posts Directorate and Nagad, all is clear. Today’s message will go to the media tomorrow and it will clear the rest.’

Nagad’s Founder and Managing Director Tanvir A Mishuk said, `In every year we exchange our revenue shares with the Posts Directorate. According to the agreement between Posts Directorate and Nagad today we have shared 51 percent of revenues with Posts Directorate.’

Since its inception in 2019, Nagad, as a service entity of the Posts Directorate, has attained confidence of the common people. It has brought a revolution in digital financial services by including the people who lag behind in society.

Nagad has innovated e-KYC and d-KYC in the process of opening accounts, the first of its kind in the country. It has offered a variety of up-to-date services such as a minimum charge on cash out and sending money free of cost. Within only three and a half years, Nagad has emerged as the wallet of the common people.