DHAKA, Sept 9, 2021 (BSS) - The Directorate of Posts, Bangladesh Post
Office today called for halting the ongoing propaganda against Nagad in the
media and social networking platforms.

    In a video message today, Director-General of the Directorate of Posts,
Bangladesh Post Office 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.

    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 the 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, said a press release.

    Based on the agreement between the two parties, the postal department is
going to own 51 per cent of the share and Nagad Limited will own 49 per cent
of the share.

    "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 made many people jealous. So, many are conspiring against
Nagad. The probe report of the Police Bureau of Investigation (PBI) can be
specifically mentioned here as evidence, said Siraz.

     He said "Nagad has been able to break the monopoly of the MFS market.
And that is why many people are spreading rumours and misleading information
against Nagad. 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 state service. Everyone should remember
that spreading any rumour and lie against state services is a serious state
crime."

    Siraz said there has been some news in the 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 to stand by
Nagad instead of being distracted, the Director-General 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, Taka 700 crore is being transacted through
Nagad every day.