Postal Department calls for end to propaganda against Nagad

The Postal Department has called for a closure on the ongoing propaganda against Nagad in the media and social networking platforms following some issues in recent times.

In a video message on Thursday, director general of the Postal Department Md. Siraz Uddin said, “Nagad is a mobile financial service that runs on the basis of a revenue-sharing model with the postal department that has financially included about 5.5 crore people of the country in just two and a half years.”

He, however, apologised for some accounts disabled temporarily because of the faults of several e-commerce platforms and said that the process to reactivate the accounts after review has already begun.

He said, “The postal department signed an agreement with Third Wave Technologies Limited in 2017, and Nagad has been providing services on the basis of that deal. I want to say unequivocally that there is no room for misleading people about the ownership of Nagad and the partnership with the postal department.”

The DG said the postal department and the authorities of Nagad are now in the process of moving towards ownership from the partnership as per the instructions of the Bangladesh Bank.

Based on the agreement between the two parties, the postal department is going to own 51 per cent of the share while Nagad Limited will own the remaining 49 per cent of the shares, said Siraz.

However, the matter is now awaiting formal approval under the state law.

“Nagad is a new financial service provider of the century-old state postal department. The unimaginable success of the company in just two and a half years has given rise to jealousy among many, so many are conspiring against Nagad. The probe report of the Police Bureau of Investigation (PBI) can be specifically mentioned here as evidence”, Siraz further added.

He also claimed that Nagad has been able to break the monopoly of the MFS market. And that is why many people are spreading rumours and misleading information against Nagad.

“We hope that everyone will refrain from such vile and ill-conceived attempts in the future. We are always ready to foil any rumours and propaganda for the smooth progress of a state service.

Everyone should remember that spreading any rumor and lie against state services is a serious state crime,” he warned.

Md. Siraz Uddin said, “There has been some news in the media about the trust-cum-settlement account. Nagad always opens new bank accounts with the approval of the postal department. I think it’s an ongoing process. There is no reason for anyone to be confused by this letter.”

Urging the customers to stand by Nagad instead of being distracted, the DG of the Postal Department said, “In recent times, some accounts have been temporarily suspended because of the faults of several e-commerce platforms, and this information has been communicated to the appropriate authorities and law enforcement agencies. The process to reactivate the accounts after review has already begun. We sincerely apologize for the temporary inconvenience.”