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.

Badiuzzaman Didar, the newly-appointed administrator of Nagad, has filed a general diary (GD) against Tanvir A Mishuk, the former managing director and CEO of the mobile financial service provider

Nagad Digital Bank plans to launch its commercial operation in July this year by offering branchless banking services to customers across the country, a move that may herald in a new era of banking in Bangladesh.