Director General of the Postal Department Md Siraz Uddin said Nagad is a mobile financial service run 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.
In a video message on Thursday, 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.”
Md Siraz Uddin 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 percent of the share and Nagad Limited will own 49 percent 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 is a new financial service provider of the century-old state postal department. The unimaginable success of the company in just two and a half years has given rise to jealousy among many, so many are conspiring against Nagad.
The probe report of the Police Bureau of Investigation (PBI) can be specifically mentioned here as evidence, said Md. Siraz Uddin.
“We hope that everyone will refrain from such vile and ill-conceived attempts in the future. We are always ready to foil any rumours and propaganda for the smooth progress of a state service.”
He also said that 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.
Urging the customers 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.”
Nagad has successfully digitalized the disbursement of various government allowances. On average, Tk 700 crore is transacted through Nagad every day.