Monday, 6 December, 2021
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Nagad hands over Tk 3.32cr to postal dept as revenue share in FY21

Nagad hands over Tk 3.32cr to postal dept as revenue share in FY21

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Nagad, the mobile financial service of the  Bangladesh Post Office, has handed over Taka 3,31,94,877 crore to the  concerned authority as its revenue share for the FY21.

Posts and Telecommunications Division Secretary Md. Afzal Hossain received  a cheque of that amount from Nagad Executive Director Md Shafayet Alam  recently at Bangladesh Secretariat. During the time, Director-General of the  Directorate of Posts Md. Siraz Uddin and other senior officials were also  present.

As per the agreement, the postal department is entitled to have 51 percent  of the total revenue generated from the services of Nagad while remaining 49  percent goes to Nagad Limited. 

Earlier, in the FY20, the postal department received Taka 1.12 crore from  Nagad, said a press.

After receiving the cheque, Afzal Hossain said the postal department and  Third Wave Technologies Limited launched Nagad in 2017 under an agreement and  thus it reached in a better stage after overcoming various ups and downs. 

He said, "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 Taka 10,000. Nagad is owned by the Directorate of Posts. It is  well-recognized and I believe that Nagad will play a huge role in serving the  people and will contribute to building a cashless society." 

 Afzal also 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 said that from the very beginning, it 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. 

In just 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 dialing *167# on any mobile phone anytime, from  anywhere.

Nine countries, including Australia, Singapore and Japan, expressed their  interest to launch MFS service replicating the model of Nagad during an event  of the Asia Pacific Postal Union, an organisation of the postal departments  in various countries in the Asia-Pacific region.