APPU certify ‘Nagad’ as the world’s fastest growing DFS

Asia Pacific Postal Union (APPU), a regional body of the postal departments of 32 member countries, today in an event highly appreciated the Bangladesh Postal Department’s financial initiative ‘Nagad’ and termed it as the fastest growing Digital Financial Service (DFS) across the world.

From the event some of the member countries like – Australia, Singapore, Malaysia, India, Pakistan, Vietnam, Japan, Iran and Solomon Island also showed their interest to replicate the same service in the respective countries.

The APPU’s Postal Financial Service working group has organized a remote meeting using a virtual platform where representatives from 32 member countries have participated and the appreciation for ‘Nagad’ came from that meeting.

Officials of the postal department of the member countries overwhelmingly expressed their appreciation on how ‘Nagad’, the Digital Financial Service of Bangladesh Post Office has become the second largest digital financial service of the country only within one and half year of its launch.

They also appreciated the private public partnership model and also Nagad’s growth trend.

Participants said no doubt that ‘Nagad’ becomes the role model for the APPU member country’s postal department and other countries, also can be replicated to rejuvenate their postal services.

Sudhangshu Shekhar Bhadra, Director General of the Postal Directorate of Bangladesh Post Office is the Chairman of the working group and moderated the session. Executive Director of Nagad Md Shafayet Alam also attended the virtual event.

Lin Hongliang, Secretary General of APPU, was also present at the event and praised Nagad’s growth trend.

About this appreciation in an international platform Sudhangshu Shekhar Bhadra said, “Nagad really became a surprise for the member countries of the APPU and they were very curious to know the model and I am quite sure that some of them will derive to copy the service model for their survival.”

“Nagad now became our pride not only in Bangladesh and in the international arena and I am quite sure that those days will come when people will use Bangladesh and Nagad’s name as the example of the digital financial service,” Bhadra also said.

Managing Director of Nagad, Tanvir Ahmad Mishuk said “This type of appreciation will definitely encourage us to extend our service quality further and our target is to serve as many possible citizens of the country and include them in the regulator financial model.”

“At Nagad we feel deeply touched to have uplifted the flag of our beloved Bangladesh in the international arena and showed them that Bangladesh’s is no less competent in any way,” Mishuk also added.

Currently there are 15 financial institutions that are offering digital financial service and of which ‘Nagad’ has achieved the second position only less than of its 15 months journey. ‘Nagad’ has now also become the government’s first choice to disburse the government support to the citizens of the country.