High Court Upholds Bangladesh Bank’s Decision to Appoint Administrator at Nagad

The High Court has dismissed the rule questioning the legality of appointing an administrator at Nagad, a leading mobile financial service provider. As a result, the Bangladesh Bank’s decision to appoint an administrator at Nagad remains valid, according to legal experts.

A High Court bench, comprising Justice Farah Mahbub and Justice Debashish Roy Chowdhury, issued the order on Sunday (February 16), dismissing the rule in response to two separate writ petitions.

The court stated that the writ petition was not admissible.

Senior lawyers Jamir Uddin Sircar, Muhammad Naushad Zamir, Mostafizur Rahman Khan, and Abul Kalam Khan Daud represented the petitioners in court, while Attorney General Mohammad Asaduzzaman, along with lawyers Kamruzzaman Kochi and Saiful Islam, represented Bangladesh Bank.

Following the verdict, lawyer Abul Kalam Khan Daud said, "The High Court has dismissed the writ petition challenging the legality of the administrator’s appointment at Nagad. The court ruled that the petitioners lack locus standi (legal standing), leading to the dismissal."

When asked whether an appeal would be filed against the ruling, he stated that a decision would be made after consulting the petitioners.

On August 21 last year, Bangladesh Bank appointed Muhammad Badiuzzaman Didar, a director of the central bank, as administrator of Nagad for a one-year term. Additionally, six other officials from the central bank were assigned to assist him.

The writ petition was filed challenging Bangladesh Bank’s decision to appoint Didar, a former director of the bank’s Chattogram office, as administrator following allegations of operational irregularities involving Nagad’s nine crore customers.