• Thursday, Oct 28, 2021
  • Last Update : 01:28 pm

DG of postal department calls for a closure on the ongoing propaganda against Nagad

  • Published at 04:55 pm September 9th, 2021
DG postal department

On average, Tk700 crore is transacted through Nagad every day.

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 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% of the share and Nagad Limited will own 49% of the share. 

The matter is now awaiting approval under state law. 

“I hope none will mislead people by providing fabricated information to this effect,” he said.

“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,” Siraz added.

Urging the customers to stand by Nagad instead of being distracted, the Director-General 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.”

Siraz also said: “There has been some news in 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.”

Nagad has successfully digitalized the disbursement of various government allowances. 

On average, Tk700 crore is transacted through Nagad every day.

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