Nagad
Mobile Financial Service in Bangladesh
From Wikipedia, the free encyclopedia
Nagad (Bengali: নগদ) is a Bangladeshi Mobile Financial Service (MFS),[1] operating under the authority of the Bangladesh Post Office,[2] an attached department of the Ministry of Post and Telecommunication.[3]
Company type | Private |
|---|---|
| Founded | March 26, 2019 |
| Founder | Tanvir A Mishuk |
| Headquarters | Delta Dahlia Tower, 36, Kemal Ataturk Avenue, Banani, Dhaka 1213, Bangladesh |
Area served | Bangladesh |
| Services | Mobile financial services |
| Website | nagad |
It is the new version of the previously introduced Postal Cash Card and Electronic Money Transfer System (EMTS) of the Bangladesh Post Office.[4] Its headquarters is located at 36 Kemal Ataturk Avenue, Banani, Dhaka — 1213, Bangladesh.[5] Nagad is the first digital bank in the country.[6]
Operations
This financial service is regulated under the Bangladesh Postal Act Amendment 2010 Section 3(2), a unique law procured especially for the Bangladesh Post Office by the government of Bangladesh.[7] The digital financial service was launched by the Bangladesh Post Office on 11 November 2018. It started operations on 26 March 2019,[8] celebrating the 48th Independence Day of the country.[4]
Nagad initially launched with core mobile financial services including cash-in, cash-out, money transfers, and mobile recharge. Additional services, such as bill payments and an e-commerce payment gateway, were subsequently introduced.[9] The platform operates through a dedicated mobile application available to both customers and partners. Nagad also developed a digital customer onboarding system known as DKYC (Digital KYC), which integrates Bangla OCR and automated identity verification to streamline the account registration process and reduce reliance on paper-based procedures.[10]
