Economic Reporter :
Bangladesh Post Office’s easy, safe, timely and cost-effective digital financial service “Nagad” has completed a year of its journey.
The state-run service platform brought a massive change to the country’s overall financial inclusion.
Prime Minister Sheikh Hasina had formally launched the financial service “Nagad” to mark the last year’s Independence Day aiming at meeting the growing demand of mobile banking among the people.
Daily transactions of Nagad crossed Tk1.0 billion (100 crore) on January 10, just 10 months past its launch.
Posts and Telecommunications Minister Mustafa Jabbar on January 12 announced the achievement and on March 13, he disclosed that daily transaction through “Nagad” exceeded Tk 1.6 billion in continuation of the pace of growth.
Bangladesh Post Office has long been applying own method for its monetary transactions. One of the transaction methods is known as “money order”, which was introduced under the jurisdiction of The Post Office Act-1898. Money order has been effective under the same law, ever since the country’s independence. Nagad is the digital version of money order.
Third Wave Technologies Limited is giving technical support to help Bangladesh Post Office provide the people with the monetary service. Nagad users enjoy its services including ‘cash-in’, ‘cash-out’, ‘send money (person-to-person or P2P)’, ‘payment’ and ‘mobile recharge’.
Bangladesh Post Office’s easy, safe, timely and cost-effective digital financial service “Nagad” has completed a year of its journey.
The state-run service platform brought a massive change to the country’s overall financial inclusion.
Prime Minister Sheikh Hasina had formally launched the financial service “Nagad” to mark the last year’s Independence Day aiming at meeting the growing demand of mobile banking among the people.
Daily transactions of Nagad crossed Tk1.0 billion (100 crore) on January 10, just 10 months past its launch.
Posts and Telecommunications Minister Mustafa Jabbar on January 12 announced the achievement and on March 13, he disclosed that daily transaction through “Nagad” exceeded Tk 1.6 billion in continuation of the pace of growth.
Bangladesh Post Office has long been applying own method for its monetary transactions. One of the transaction methods is known as “money order”, which was introduced under the jurisdiction of The Post Office Act-1898. Money order has been effective under the same law, ever since the country’s independence. Nagad is the digital version of money order.
Third Wave Technologies Limited is giving technical support to help Bangladesh Post Office provide the people with the monetary service. Nagad users enjoy its services including ‘cash-in’, ‘cash-out’, ‘send money (person-to-person or P2P)’, ‘payment’ and ‘mobile recharge’.
