Nagad has brought in a revolution to digital transactions in the country in just three years which is undoubtedly an exemplary achievement.
They said, the mobile financial service of the Bangladesh Post Office is playing an outstanding role in transforming Bangladesh into a cashless country, said top brass of various sectors.
They made the comments as they congratulated the fast-growing mobile financial service provider on the occasion of its third anniversary.
Prime Minister Sheikh Hasina inaugurated the commercial operation of Nagad on March 26, 2019.
Since then, Nagad has been coming up with surprises after introducing account opening through electronic KYC. It has added one innovation after another, lifting its registered customers above six crores and providing services at affordable prices which ensures market competition, said a press release here.
Mustafa Jabbar, posts and telecommunications minister, thought that what
Nagad has attained in three years is a role model for anyone.
He said, "Every day, Taka 700 crore are being transacted through Nagad, six crore people are its customers and they have received the funds related to scholarships, stipends or government incentives through Nagad. Delivering these services flawlessly to the people is almost an impossible task. But, Nagad has done it efficiently."
Nagad is playing a vital role in making Bangladesh a paperless country and it will continue to attract customers through innovative services in the coming days, he added.
Zunaid Ahmed Palak, state minister for information and communication technology, said providing services to more than six crore customers in just three years is an unprecedented feat in the world.
Nagad has set a rare example by providing allowances and scholarships and taking the emergency financial relief from the Prime Minister to the accounts of 50 lakh families.
Md Atiqul Islam, mayor of Dhaka North City Corporation (DNCC), said Nagad will be a pride for Bangladesh in the case of transactions in the future.
Many governments and non-government financial institutions are already following the invention of the e-KYC of Nagad that has changed the direction of financial digitalisation.
Nagad accounts are being opened by dialing *167# from any mobile phone in the country. This is a rare event in the world.
Professor Shibli Rubayat-Ul-Islam, chairman of Bangladesh Securities and
Exchange Commission (BSEC), wished success for Nagad and said Nagad played an important role in the transfer of money from one place to another during the coronavirus pandemic.
Yasir Azman, chief executive officer of Grameenphone Ltd, said there has been a lot of innovative energy in Nagad since its inception.
Welcoming Nagad, Ali Reza Iftekhar, chief executive officer of Eastern Bank Ltd, said, "There is no alternative to the digital platform to bring marginalized people to the banking sector. I believe that the digital payment solution Nagad developed by the Postal Department and some young entrepreneurs will be able to take their service to every citizen of Bangladesh in a very short time."
Golam Murshed, managing director of Walton, said the fintech (Financial technology) industry is a milestone in Digital Bangladesh. And Nagad has set new milestones in the entire fintech industry.
The cost-effective services of Nagad have been able to break the monopoly in the market.
Besides, the facility of easy account opening from any mobile phone, free utility bill payment and cash-out at half the cost of existing charges in the market have made Nagad popular among the customers.
Abdur Rouf Talukder, finance secretary, also congratulated Nagad in this regard.
