About
Nagad is a Bangladeshi mobile financial service that the Bangladesh Post Office launched in March 2019; it is run by Nagad Ltd under a revenue-sharing agreement with the Postal Department. Customers register in the Nagad app with their national ID and use it for cash-in and cash-out at agent points, transfers, bill payments and mobile recharges. As of early 2025, more than 70% of its customers were government stipend and allowance recipients, many of whom had been required to receive payments through Nagad. It never held a full Bangladesh Bank MFS licence, and the central bank appointed an administrator in August 2024. Nagad recorded nearly Tk 3.8 lakh crore in transactions in 2025.
Bangladesh Bank appointed an administrator to Nagad in Aug 2024 over financial irregularities - upheld as lawful by the High Court - and Nagad's DIGITAL BANKING licence was subsequently suspended/revoked. The MFS wallet continues to operate under the administrator, with the administration repeatedly extended.
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