Nagad, 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 said Nagad has brought in revolution to digital transactions in the
country in just three years, including the introduction of electronic Know
Your Customer (e-KYC), which is undoubtedly an exemplary achievement.

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.