Safayet Steps In: Nagad Names New CEO After Administrator Era
Mobile financial service provider Nagad Limited has appointed a new Chief Executive Officer (CEO), bringing in one of its founding members, Md. Safayet Alam, to lead the organization. His appointment marks a new chapter for the company following a period under an appointed administrator.
In a statement released Wednesday, Nagad confirmed that Md. Safayet Alam assumed the role on Monday, May 12, 2025. With nearly three decades of experience across various sectors including electrical and electronics, telecommunications, information technology, and digital financial services, Alam brings a wealth of leadership expertise to the position.
In 2022, UK-based financial journal Business Tabloid awarded him the title of Visionary Leader in Digital Finance for his strategic and forward-thinking contributions to the field. Alam has been closely associated with Nagad since before its commercial launch in 2019 and has held several key leadership positions over the past seven years.
Upon assuming his new role, Md. Safayet Alam stated, “Nagad has rapidly emerged as a disruptive brand in the MFS market of Bangladesh by strictly adhering to all rules and regulations of Bangladesh Bank. We will continue to seek their guidance to accelerate our customer service further. We aim to strengthen the cashless movement across the country under the central bank’s directives.”
He added, “Nagad has made life easier for people in many ways through its innovations. Now we want to expand its reach even further.”
Last August, Bangladesh Bank appointed an administrator to oversee Nagad, a decision that Md. Safayet Alam legally challenged. Just last week, the Chamber Court of the Appellate Division declared the administrator's appointment unlawful, paving the way for Alam to officially step into the CEO role.
