PM opens digital financial service Nagad

Prime Minister Sheikh Hasina on Tuesday inaugurated Bangladesh Post Office's digital financial service “Nagad” to meet the growing demand of mobile banking among people.

She also released a commemorative postage stamp of Tk10, a first-day cover of Tk10 and a data card of Tk5, marking the 49th Independence and National Day.

A special canceller was used on the occasion, during the ceremony held at her official residence, Ganabhaban, in Dhaka in the afternoon.

The Bangladesh Post Office has introduced “Nagad” to reach the digital financial services to common people, particularly those deprived of the banking services.

“Nagad” is the new version of the previously introduced “Postal Cash Card” and “Electronic Money Transfer System (EMTS)” of Bangladesh Post Office.

The new service is an extended digital financial service and it will be able to provide faster services through various digital channels and digital systems like digital apps, mobile phones, ATM, POS Terminals, NFC-enabled devices, electronically enabled cards, biometric devices and tablets.

Liberation War Affairs Minister AKM Mozammel Huq, Posts and Telecommunications Minister Mustafa Jabbar, Acting Posts and Telecommunications Secretary Ashoke Kumar Biswas and Bangladesh Post Office Director General Sushanta Kumar Mandal were, among others, present at the Ganabhaban event.

On March 26, 2010, Prime Minister Hasina inaugurated the Postal Cash Card and EMTS, both introduced by Bangladesh Post Office on the basis of the policy of “Financial inclusion of the people deprived of the banking facilities.”

The stamp, first-day cover and data card are being sold from the Philatelic Bureau of Dhaka GPO from Tuesday and they will be available at other GPOs and head post offices across the country later.

There is also an arrangement for special canceller in four GPOs to be used for the first-day cover.