The Bangladesh Bank extended the interim licensing period of Nagad, a rapidly growing mobile financial service, by another one year.
This is the sixth extension since the state-run agency secured provisional approval from the central bank in March 2020.
This time, the interim licence has been extended for a year. The BB extended the period on September 25.
Before the move, The Directorate of Posts had sought the extension.
Nagad has been operating without a full-fledged licence since its inception in March 2019.
It has more than six crore customers and facilitates transactions of around Tk 750 crore daily.
