Bangladesh Bank Authority has handed over the approval copy to Nagad Digital Bank Limited to start working as the country’s first full-fledged digital bank. Through this, another new door of possibilities was opened in the expansion of the digital financial sector in the country.
On Wednesday, Bangladesh Bank Governor Abdur Rauf Talukder handed over the letter of intent (LOI) of digital bank approval to founder and managing director of Nagad Limited Tanveer A. Mishuk in his office. At that time, Bangladesh Bank Deputy Governor Abu Farah Mohammad Nasser, Bangladesh Bank Director (BRPD) Mohammad Shahriar Siddiqui, Bangladesh Bank Additional Director (BRPD) Md. Monirul Islam and Executive Director of Nagad Niyaz Morshed Elite were present.
While handing over the approval copy to Nagad Digital Bank Limited, Bangladesh Bank Governor Abdur Rauf Talukder congratulated and wished them success.
Nagad is the name of trust of 85 million people of the country. The company has revolutionized mobile financial services with innovative services. As a result, it has been able to acquire a huge customer base and market share in a very short period of time. Eventually, competition in the market has also increased and the customer has benefited from it. Nagad has also received recognition from Hon’ble Prime Minister Sheikh Hasina as the fastest unicorn in the country in this fast moving journey.
For the last three years, Nagad has been requesting the policy makers to introduce digital banking services in the country. As a result of receiving the approval of Bangladesh Bank, Nagad Digital Bank has already started preparing to bring modern digital banking services to the doorstep of common people through digital bank.
Regarding Digital Bank, Founder and Managing Director of Nagad Limited, Tanveer A. Mishuk said, ‘We have received approval from Bangladesh Bank today to establish the country’s first full-fledged digital bank. Nagad Digital Bank will appear with services to people who feel blocked from coming to the bank due to various reasons. In this method, the customer no longer has to come to the bank, but the bank itself will move from person to person. Through this, another example will be created in increasing the financial inclusion of the country. We want to provide loans in single digits without any collateral to those outside the traditional business. Besides, Digital Bank will provide solutions to all the daily tasks of the people including the introduction of small savings schemes. Through this, the way to form Smart Bangladesh will be smoother.’
After all the formalities and preparations, Nagad will start digital bank services in the shortest possible time, said Managing Director of Nagad Tanveer A Mishuk.
