Nagad to transition into private sector as new investors are being sought

The government has decided to privatise mobile financial service (MFS) provider Nagad to increase competition in the sector, said Bangladesh Bank (BB) Governor Ahsan H Mansur.

Bangladesh Bank (BB) Governor Ahsan H Mansur said the Directorate of Posts, which owns mobile financial service provider Nagad, does not have the capacity to run it efficiently, making it necessary to bring in new investors.

A group of men wearing uniforms resembling those of the Rapid Action Battalion snatched Tk 1.08 crore from employees of a Nagad distributor in Dhaka’s Uttara yesterday morning.

The Anti-Corruption Commission yesterday raided the Dhaka headquarters of Nagad as part of an investigation into allegations of irregular recruitment and embezzlement of Tk 150 crore through fake bills and vouchers.

The discord became apparent after Faiz Ahmed Taiyeb, special assistant to the chief adviser with authority over the Ministry of Posts, Telecommunications and IT, sent a letter to the BB governor on May 12 and posted the letter to his Facebook account recently

Bangladesh Bank has instructed banks to bar fund transfers by Nagad while keeping the mobile financial services available to customers.

The government will form an independent board to run mobile financial service provider Nagad, Finance Adviser Salehuddin Ahmed said yesterday.

Govt asks postal department to take responsibility of the MFS provider

The Bangladesh Bank has raised transaction limits for mobile financial service (MFS) providers such as bKash, Rocket, and Nagad ahead of Eid-ul-Fitr, a time when money flow in the economy typically increases.

Nagad’s administrator was attacked by miscreants yesterday, moments after an Anti-Corruption Commission team raided the digital financial services provider’s headquarters and left with preliminary evidence of corruption and money laundering amounting to Tk 2,300 crore.

They vandalised his vehicle, injured the driver in Dhaka’s Banani

Bangladesh Bank (BB) has filed a case against mobile financial service (MFS) provider Nagad, alleging fraud, embezzlement, and financial irregularities amounting to Tk 645 crore.

The central bank's payment system department filed the case with Motijheel Police Station

The Bangladesh Bank can now take legal action against mobile financial service (MFS) provider Nagad Limited over alleged irregularities as the Payment and Settlement System Act, 2024 came into effect yesterday.

The Bangladesh Bank is waiting for the interim government to bring a Payment and Settlement System Act, 2024 into effect, as it intends to take legal action against mobile financial service (MFS) provider Nagad Ltd over alleged irregularities.

Habib won the first prize in the private sector category for series reports on "War hit private sector harder than pandemic"

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In a bid to ensure tax compliance, the government has blocked the transfer of shares of seven corporate giants that thrived under the Awami League government.

The NBR instructed the RJSC to immediately block any sales or transfers of shares, whether through donations or otherwise