Discussion on Digital Transactions in Islamic Finance held

A discussion was held on digital transactions in Shariah-based financial management in the country. This conference discussed the overall growth in this sector, particularly the role and advancement of digital transactions in Islamic financial management. The seminar was arranged by the Bangladesh Secretariat Reporters Forum (BSRF) with the general cooperation of the Bangladesh Postal Department's Mobile Financial Services, Nagad. The conference was organized today at the BSRF auditorium. Hon'ble State Minister for Religious Affairs Md. Faridul Haque Khan, MP was present as the Chief Guest on the occasion. Also, present on the occasion were the Director of Imam Training Academy, Islamic Foundation of Bangladesh, Md. Anisuzzaman Sikder, Chairman, Shariah Supervisory Committee of Nagad Islamic Prof. Dr. H.M Shahidul Islam Barakati, Executive Director of Nagad and member of Nagad Islamic’s, Shariah Supervisory Committee, Mohammad Aminul Haque, Tapan Biswas, President of BSRF and Masudul  Haque, General Secretary among others. Speakers at the event praised Nagad for ensuring full Shariah-based transactions by launching 'Nagad Islamic accounts' for the country's devout customers. Md. Faridul Haque Khan, MP, the Hon'ble Minister of State for Religious Affairs, described 'Nagad Islamic' as an exceptional success in the realm of digital Shariah-based transactions. Md. Faridul Haque Khan, Minister of Religion, hailed the Nagad authorities. 'Mobile finance service Nagad is growing increasingly popular,' he added. For the last three years, Nagad Islamic has been providing various sorts of Shariah-based transactions, allowing the people of the country to conduct financial transactions digitally in accordance with the Islamic way of life. Customers may manage their own accounts and keep their hard-earned money in an interest-free way, and they can also conveniently pay for other costs such as Hajj and Umrah travel and Islamic life insurance payments at home. In addition, the portal includes a zakat calculation, contribution advantages, and prayer-specific features. He said, "The postal department's mobile finance service Nagad donates a portion of the revenues from consumer transactions to the development of various mosques and madrasas. The platform is well-designed and Mohammad Aminul Haque, Executive Director of Nagad and a member of Nagad Islamic's Shariah board, stated, "Nagad today has 60 million subscribers in just three years. Our country's Muslim population accounts for around 90% of the total population. With this in mind, we've included the Nagad Islamic account. Even at the marginal level, we know that there is a high demand for Shariah-compliant transactions among pious customers. Nagad Islamic is a watershed moment in the country's Islamic digital transactions, and we think that individuals from all walks of life will reap the advantages." Nagad Islamic's Shariah Supervisory Board Chairman Prof. HM Shahidul Islam Barakati said, “that the service of Nagad Islamic is not only for the marginal population but also for all classes of people in the country. I would like to reassure everyone that all the services of this platform are recognized by the Shariah Board. Customers can take this service with confidence.”