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Nagad has its sights on marginalised people

  • Published at 08:16 pm December 24th, 2020
Nagad updated logo 2020
Logo of Nagad Courtesy

"Our prime target is to include marginal people in financial services. Nagad’s target is to deliver those services to the marginalised people,” says Telecom Minister Mustafa Jabbar

Nagad, the mobile financial service (MFS) arm of the Bangladesh Post Office, could help as a tool in integrating the marginalised people under its digital services, said Telecom Minister Mustafa Jabbar yesterday.

“Our prime target is to include marginal people in financial services. Nagad’s target is to deliver those services to the marginalised people,” he said at a workshop styled “Current Scenarios of Digital Financial Service and Technological Innovation”, organised by the Telecom Reporters’ Network Bangladesh (TRNB).

Nagad is moving at its own pace and has reached a new height in a short period. 

“This was not easy.”

The most challenging part was establishing the agent network. 

“It would have been better if we could connect the postal services with it properly.”

The minister went on to state that the post office will be digitalised.

“And Nagad will help us in reaching that goal in a short span of time,” he added.

Starting its journey in 2019, Nagad has been able to connect people and it has now three crore accounts as of December 16.

Recently, Nagad has crossed a major milestone as its daily transaction went past the Tk 200 crore-mark, said Tanvir A Mishuk, managing director of Nagad, who was present at the workshop.

The government had set a target for Nagad to reach the Tk 200-crore daily transaction mark by January 2021.

“But we did it much ahead of the deadline.”

Mishuk attributed the rapid advancement of Nagad to the introduction of state-of-the-art technological innovations and customer-friendly services.

For instance, a Nagad account can be opened by just dialling *167#.

“We are working towards the goal of making all conventional services available on Nagad under the slogan of 'Everything will be through Nagad'.”