Bangladesh Bank has started looking into the details of the founders and shareholders of Naqad Digital Bank two months after giving the final license. The decision was taken after economist Ahsan H Mansoor joined Bangladesh Bank, the central bank of Bangladesh as governor.
According to sources, the central bank has written to the Ministry of External Affairs on Sunday seeking detailed information on foreign entrepreneurs of Nagad. A letter in this regard has also been sent to the Secretary of the Financial Institutions Department.
However, in a virtual meeting with the founders of the country’s startup companies that evening, the founder and chief executive officer of Nagad, Tanveer A Mishuk, said that foreign investment of 112 crore taka has already entered Nagad Digital Bank. There are firms invested in Nagad which also have investments in Facebook (Meta). Moreover, some of the world’s renowned business organizations including a sister concern of India’s Paytm have invested here. In addition, Deloitte, one of the world’s largest audit firms, audits daily transactions of Nagad.
Meanwhile, the Bangladesh Bank’s letter said that it is necessary to verify the information of the entrepreneurial shareholders of Nagad Digital Bank PLC. For this, the Central Bank has asked for information about five foreign entrepreneurial organizations by adding their names. The five firms are Blue Heaven Ventures LLC, Osiris Capital Partners LLC, Zen Fintech LLC, Finclusion Ventures Pte Ltd and Trope Technologies LLC. In the letter, the registration documents of these five foreign entrepreneurial organizations are attached. The information of these institutions is asked to be collected and submitted through the Bangladesh Embassy in the United States and Singapore.
The letter asks for information on the registration and address or location of the companies, ownership structure and institutional structure at the time of formation, business activities, current ownership and citizenship of owners, net profit after tax and amount of net assets for the last three years and business activities of associate companies in the case of holding companies.
