DHAKA, Nov 20, 2022 (BSS) - Nagad, a mobile financial service (MFS) of the Bangladesh Post Office, and Islami Bank Bangladesh Ltd (IBBL) have forged ties to help customers make seamless financial transactions.

The services will range from add-money to DPS installments to remittance transfer through their Nagad wallets.

Moreover, customers will be able to avail Nagad and Nagad Islamic services using the IBBL's "CellFin" app. To this end, the MFS provider and IBBL struck a partnership agreement recently at a city hotel, said a press release.

From now on, people can add money to their Nagad and Nagad Islamic wallets instantly from their Islami Bank accounts without any charge.

Besides, they can pay DPS installments to Islami Bank as well as transfer remittances to Nagad accounts.

Posts and Telecommunications Minister Mustafa Jabbar, Secretary to the Posts and Telecommunications Division Md Khalilur Rahman, Director General of the Postal Department Md Harunur Rashid, Director General of Islamic Foundation Md Munim Hasan, Managing Director and CEO of IBBL Muhammad Munirul Maula, Founder and Managing Director of Nagad Tanvir A Mishuk and other senior officials of Nagad and Islami Bank were present at the agreement signing ceremony.

Speaking on the occasion, Mustafa Jabbar said, "Today we are happy that an institution like Nagad has partnered with Islami Bank. I thank Nagad for all of its innovations to improve customer experience."

He said the MFS company's innovations like e-KYC were a real game changer in bringing more and more unbanked people under financial inclusion.

Nagad's collaboration with Islami Bank has also set a good example to others, Jabbar pointed out.

"Let's wish all the best for Islami Bank and Nagad Islamic. We hope digital Bangladesh will lead to a prosperous Bangladesh," the minister said.

Managing Director and CEO of IBBL Muhammad Munirul Maula said, "Nagad has on boarded 6.5 crore customers only in three and a half years. I thank them for this."

Nagad has introduced Islamic services, which is the need of the time, he said, adding that the MFS provider has come up with services that crores of people yearned for long.

"The collaboration between our Cell Fin app and Nagad Islamic will bring more unbanked people under financial inclusion," Maula hoped.

Founder and Managing Director of Nagad Tanvir A Mishuk said, "I thank Islami Bank for beginning a journey with Nagad. Banks cannot take services to people's doorsteps, but platforms like Nagad can do that. We want to give smart cards to our 6.5 crore customers next year."

In the meantime, customers will get a Taka 30 mobile recharge if they make an add-money transaction of Taka 3,550 to their Nagad and Nagad Islamic wallets from IBBL accounts. A customer will be able to enjoy this offer once. Starting on the 20th of this month, the offer will remain valid till November 30.

Nagad has been expanding the scope of its "Bank to Nagad" add-money service to provide consumers with faster and improved services. Internet banking users of banks can instantly transfer money to their Nagad accounts without any charge.

Nagad customers now can avail the add-money service from more than 30 banks.