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, read 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.
He said, “Currently we are in the second position. I believe Nagad will be able to move to the top position very soon and serve the country and the people.”
Nagad Executive Director Md Shafayet Alam said that from the very beginning, Nagad has been conducting all the activities as per the instructions of the postal department. The revenue received by the postal department in the just-concluded fiscal year was much higher than the previous year.
He hopes that with the trust and love of the people, Nagad will be able to earn more revenues for the postal department in the coming days.
According to the release, just in two and a half years of its rollout as a service of the postal department, Nagad has revolutionized the country's mobile financial service market. As a result, the common people of the country can enjoy all the latest services, including the lowest cash-out charge. Anyone can open a Nagad account in a few seconds by dialling *167# on any mobile phone anytime, from anywhere.
Moreover, Nagad is disbursing various assistance and allowances of the government among the beneficiaries in a very transparent manner, starting from the Eid gift of the Prime Minister. Even during the coronavirus pandemic and lockdowns, Nagad has played an important role in keeping the lives of ordinary people normal with uninterrupted service. Nagad has built a position in the market in a very short time on the back of the people’s interest and trust.
Nine countries, including Australia, Singapore and Japan, expressed their interest in introducing service in the model of Nagad during an event of the Asia Pacific Postal Union, an organization of the postal departments in various countries in the Asia-Pacific region, the release further read.
