DHAKA, Dec 11, 2021 (BSS) - Nagad, the mobile financial arm of the 
Bangladesh Post Office, is a top level success of the government's Digital 
Bangladesh vision. 

   The state-owned service has introduced the art of technological 
advancement for mobile payments which also eased the account opening process 
and boosted the financial inclusion of the country.

   Since its inception on March 26, 2019, Nagad has been using advanced 
technology which brought 5.75 crore users in a very short time side by side 
also enforced revolution in financial industry of Bangladesh, said a press 
release here.

   Nagad has been working for a long time to reach the benefits of Digital 
Bangladesh to people of the country. To that end, Nagad has revolutionized 
the distribution of allowances of the government's social safety net 
programmes with highest level of transparency and accuracy. 

   Through the use of advanced technology, Nagad is successfully distributing 
student stipends and various financial assistance to the citizens by ensuring 
transparency.

   In the fiscal 2020-21, Nagad has distributed about eight crore governments 
financial assistance among three crore beneficiaries. Besides, from the very 
beginning, Nagad has been using advanced technologies to ensure proper 
distribution of government allowances, hence, it has identified fraudulence 
and returned about Taka 365 crore to the Bangladesh Bank.

   For the first time in the country, Nagad has played an important role to 
increase financial inclusion by inventing an innovative method of setting PIN 
by dialing *167#. Consequently, the number of customers and transactions of 
Nagad has increased rapidly. Currently, the average daily turnover of Nagad 
is around Taka 750 crore. 

   Nagad's innovative services are also playing a positive role in changing 
the daily lives of customers. Because of its innovative solutions, many 
entrepreneurs have become successful in the country. 

   New entrepreneurs are also being created and contributing to creating 
more. The use of modern and easy services of Nagad has also relieved 
technological issues at the entrepreneurial and consumers level. 

   Since the beginning, by the use of advanced technology, the world's 
fastest-growing mobile financial service Nagad has been providing affordable 
services to its customers. Therefore, Nagad is one step ahead in the MFS 
sector compared to others.

   In the last year, Nagad users have saved Taka 1,007 crore on cash out, 
send money, bill payment, account registration savings and savings on profit. 

   On the occasion of Digital Bangladesh Day, Nagad's Managing Director 
Tanvir A Mishuk said: "From the beginning, Nagad has been a partner with 
government to build Digital Bangladesh targeting to upgrade citizens life to 
the digital space. About 5.75 crore people have been included in the 
financial inclusion through Nagad which is an effort to achieve that goal."

   Besides, he said government grants such as, education stipend, old age 
allowance, widow allowances, are sent to the beneficiary's through mobile. 

   "All these are the blessings of digital Bangladesh. And I believe that 
this progress will accelerate in the days ahead," he added.