• Sunday, Sep 19, 2021
  • Last Update : 07:19 pm

Over 5,000 suspended Nagad accounts reactivated in 48 hours

  • Published at 11:35 pm September 13th, 2021
Nagad updated logo 2020
Logo of Nagad Courtesy

Accounts being reactivated in phases after extensive scrutiny, say Nagad authorities

Among the suspended accounts for probable suspicious transactions, mobile financial service (MFS) provider Nagad has reactivated over 5,000 accounts in the past two days after extensive analysis and consultation with the authorities’ concern.

In recent times, after observing signs of inconsistent transactions with some e-commerce sites of the country, Nagad put some accounts on hold temporarily for ensuring the customer’s security, read a statement.

According to Nagad sources, when the e-commerce company in question, started paying back customers' money for failure to deliver goods, they took unethical action.

Besides the original customers who transacted with the e-commerce site, many new Nagad accounts, who never transacted with the e-commerce shop got refunds.

“It seemed like the e-commerce shop made a cartel and rolled the refund money within themselves,” said an official of Nagad wishing anonymity.

“As per the Bangladesh Bank regulations, Nagad informed the matter to the concerned authorities. Subsequently, through ongoing consultation with the authorities, extensive analysis, and scrutiny, the accounts with satisfactory results are now reactivating in phase by phase. In this ongoing process, steps have been taken to reactivate the rest of the accounts with satisfactory results within the shortest possible time,” added the Nagad statement.

Nagad authorities hoped that most of the accounts, except the suspicious ones, will be reactivated very soon in phases once the government authorities provide clearance. 

When the investigation process started, Nagad was asked to suspend the accounts per the standard procedure, they said.

Many user holders expressed their dissatisfaction over the inconvenience and hassle caused by such a sudden move by Nagad. 

On Monday, a group of Dhaka University (DU) students, all users of Nagad, gave a 24-hour ultimatum to its authorities to reopen their closed accounts and stop harassing customers.

If the demands are not met, the students have threatened to take to the streets, they said.

Earlier on September 7, a group of agitated Nagad users protested outside the MFS provider's head office, seeking restoration of their frozen accounts.

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