Nagad, Robi sign deal on financial inclusion

Business Desk | Published at 12:00am on January 17, 2020


Posts and telecommunications minister Mustafa Jabbar is seen along with the officials of Bangladesh Post Office’s digital financial service Nagad and mobile operator Robi at the launch of a financial inclusion initiative between Robi and Nagad at an event held on the side lines of the ongoing Digital Bangladesh Fair in the capital on Thursday. — New Age photo

Bangladesh Post Office’s digital financial service Nagad and mobile phone operator Robi Axiata Limited have signed a deal on financial inclusion with the aim of bringing Robi’s 5 crore subscriber base under the coverage of Nagad’s services, said a press release.

This agreement between Nagad and Robi Axiata Limited will increase Nagad’s customer base to 6 crore, making Nagad the number one digital financial service provider in the country in terms of customer base, it said.

Nagad’s daily transaction recently crossed Tk 100 crore, around ten months after prime minister Sheikh Hasina officially inaugurated the service on 26 March, 2019.

The prime minister has recently endorsed a directive to distribute all government disbursements through Nagad.

All government allowances from now on will be disbursed through Bangladesh Post Office’s digital financial service.

This initiative is a giant step towards ensuring financial inclusion for the lower and middle income population of Bangladesh and help the country to achieve its Sustainable Development Goals, it said.

This will transform the digital financial service sector of Bangladesh and act as a catalyst for achieving the ‘middle income country’ status.

Nagad now offers customers the most ‘value for money’ cash-out charge in the industry which at Tk 14.50 per thousand. In addition, it also offers Tk 5 cash back on per thousand taka cash-in.

Nagad is committed to the development of Bangladesh through empowering millions of people by providing customised and state-of-the-art digital financial products and services.