Nagad hands over Tk 3.32cr to postal dept as revenue share in FY21
DHAKA, Sept 20, 2021 (BSS) - Nagad, the mobile financial service of the
Bangladesh Post Office, has handed over Taka 3,31,94,877 crore to the
concerned authority as its revenue share for the FY21.
Posts and Telecommunications Division Secretary Md. Afzal Hossain received
a cheque of that amount from Nagad Executive Director Md Shafayet Alam
recently at Bangladesh Secretariat. During the time, Director-General of the
Directorate of Posts Md. Siraz Uddin and other senior officials were also
As per the agreement, the postal department is entitled to have 51 percent
of the total revenue generated from the services of Nagad while remaining 49
percent goes to Nagad Limited.
Earlier, in the FY20, the postal department received Taka 1.12 crore from
Nagad, said a press release here today.
After receiving the cheque, Afzal Hossain said the postal department and
Third Wave Technologies Limited launched Nagad in 2017 under an agreement and
thus it reached in a better stage after overcoming various ups and downs.
He 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 Taka 10,000. Nagad is owned by the Directorate of Posts. It is
well-recognized and I believe that Nagad will play a huge role in serving the
people and will contribute to building a cashless society."
Afzal also said, "Currently we are in the second position. I believe Nagad
will be able to move to the top position very soon and serve the country and
Nagad Executive Director said that from the very beginning, it 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.
In just two and a half years of its rollout as a service of the postal
department, Nagad has revolutionized the country's mobile financial service
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
Nine countries, including Australia, Singapore and Japan, expressed their
interest to launch MFS service replicating the model of Nagad during an event
of the Asia Pacific Postal Union, an organisation of the postal departments
in various countries in the Asia-Pacific region.