Nagad, NRB Bank Partner to Expand Digital Banking and Remittance Services Nationwide
Postal mobile financial service Nagad and NRB Bank PLC have entered into a strategic partnership aimed at making financial transactions more accessible, affordable, and convenient across Bangladesh.
The agreement was signed on Monday at NRB Bank's corporate headquarters in Gulshan, Dhaka. Officials said the partnership will enable the bank to deliver financial services in remote areas through Nagad's nationwide digital platform, even where the bank has no physical branches.
The agreement was signed by Nagad Administrator Md. Motasim Billah, appointed by Bangladesh Bank, and Tareq Riaz Khan, Managing Director and Chief Executive Officer of NRB Bank.
Under the partnership, inward remittances sent through NRB Bank will be credited instantly to Nagad wallets, allowing beneficiaries across the country to receive and use their funds 24 hours a day. The two institutions also plan to expand services through nano loans, corporate collections, and other digital financial solutions.
Speaking at the signing ceremony, Nagad Administrator Md. Motasim Billah said, "Fintech will reshape traditional financial transactions in the coming years. Greater collaboration among financial institutions is essential to meet evolving customer needs. Nagad is moving in that direction and contributing positively to Bangladesh's digital economy."
NRB Bank Managing Director and CEO Tareq Riaz Khan said, "We want to transform conventional banking services. Partnering with Nagad will significantly expand our service coverage by enabling customers to access banking facilities through more than 300,000 Nagad agent points across the country."
He noted that despite having 109 branches and sub-branches, the bank cannot physically serve every remote location, making Nagad's extensive agent network a valuable extension of its services.
Senior officials from both organizations, including Nagad Chief Commercial Officer Mohammad Shahin Sarwar Bhuiyan and Head of Remittance Md. Ahsanul Haque Bashar, attended the ceremony.
Nagad said it has been implementing various initiatives to encourage remittance inflows through formal channels and promote a cashless economy. Its recent "Har Na Mana Har" campaign offers gold necklace rewards to families receiving remittances through the Nagad platform.
The company has also expanded digital payment services by introducing Bangla QR and the National Payment Switch Bangladesh (NPSB). Customers can now make cashless payments through the Nagad app at nearly one million Bangla QR merchant outlets across the country.
//DBITEC/SAN/NAM//
