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Nagad hands over Tk 33m to postal dept as revenue share

  • Staff Correspondent
  • 21 September, 2021 12:00 AM
  • Print news

The mobile financial service Nagad has handed over Tk 33.19 million to the concerned authority as its revenue share for the fiscal year 2020-21.

At a recent function at the secretariat, Secretary of Posts and Telecommunications Md Afzal Hossain received a cheque mentioning the amount from Nagad Executive Director Md Shafayet Alam, said a press release.

Director General of the Department of Posts Md Siraz Uddin and other senior officials were also present.

Under the agreement, the postal department is entitled to 51 percent of the total revenue generated from the services of Nagad and remaining 49 percent goes to Nagad Limited.

Earlier, in the financial year of 2019-20, the postal department received Tk 1.12 crore from Nagad.

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

Secretary Md Afzal Hossain 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 Tk 10,000.

Nagad is owned by the Department of Posts and Telecommunications. It is well-recognised. I believe that Nagad will play a huge role in serving the people and will contribute to building a cashless society.”

Nagad Executive Director Md. Shafayet Alam said that from the very beginning, Nagad 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.

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.

ine countries, including Australia, Singapore and Japan, expressed their interest in introducing service in the model of Nagad during an event of the Asia Pacific Postal Union, an organization of the postal departments in various countries in the Asia-Pacific region.