Nagad, one of Bangladesh's leading mobile financial service providers, continues its tradition of sharing revenue with the Bangladesh Postal Department, as it did in previous years.

In a ceremony held at the Bangladesh Secretariat, Nagad authorities presented a cheque amounting to Taka 5,51,37,558, representing its revenue generated in 2023, to the Postal Department. The Director General of the Postal Department, Tarun Kanti Sikder, received the cheque from Tanvir A Mishuk, the Founder and CEO of Nagad Ltd.

The event was attended by State Minister for Posts, Telecommunications, and Information Technology, Zunaid Ahmed Palak, Executive Director of Nagad Ltd., Md Shafayet Alam, and other high-ranking officials from both organizations.

Under the agreement between Nagad and the Postal Department, the latter is entitled to receive 51 percent of Nagad's revenue.

Previously, the Postal Department received Taka 4.5 crore in 2022, Taka 3.31 crore in 2021, and Taka 1.12 crore in 2020 from Nagad's revenue earnings.

During the event, State Minister Palak commended Nagad as a digital service provider of the Bangladesh Postal Department, emphasizing its contribution to the country's digitalization efforts. He expressed optimism about Nagad's upcoming Digital Bank and its potential to lead Bangladesh towards a cashless society.

CEO Tanvir A Mishuk reaffirmed Nagad's commitment to its partnership with the Postal Department and expressed hopes for its extension. Since its inception in March 2019, Nagad has gained people's trust with its innovative products and services, revolutionizing the country's digital financial sector and promoting financial inclusion.

Nagad has emerged as a leading MFS provider in Bangladesh, serving over 9.5 crore customers and facilitating daily transactions averaging BDT 1,800 crore. It has introduced pioneering customer acquisition methods like e-KYC on smartphones and USSD (*167#) on any phone, simplifying the onboarding process.

Moreover, Nagad has transformed the financial sector by offering diverse services at minimal costs while ensuring the highest security standards for customer information and funds through advanced cybersecurity measures.

Additionally, Nagad plays a vital role in disbursing stipends for primary and secondary school students, social safety net allowances, and other government assistance programs in a transparent manner, entrusted with disbursing funds for 27 ministries.