Eastern Bank Limited (EBL) has honoured Nagad, the digital financial service of the Bangladesh Postal Department, with the “Excellence in Payout” award. This MFS operator got this recognition under the “Excellence in Business” category during the grand EBL Digital Excellence Summit 2024.
As with other top banks in the country, Nagad has a successful partnership with EBL in various aspects of financial transactions and payments. Experts believe that Nagad has elevated the financial sector to a new height in bank-MFS partnerships – as evidenced by such recognition in the payment sector.
The EBL Digital Excellence Summit 2024 took place at the Carnival Hall of the Bangladesh Chamber of Commerce and Industry (BCCI) last Tuesday. Nagad was recognised as the best in the payment sector under the “Excellence in Business” category among the various categories.
On behalf of Nagad, Md. Saidur Rahman Dipu, senior vice-president of Banking Services, Mohammad Mahbub Sobhan, head of Business Sales, and Allauddin Mahmud Roni, head of Payments, received the award. Ali Reza Iftekhar, managing director and CEO of Eastern Bank PLC, handed over the award.
EBL’s Head of Retail and SME Banking and Deputy Managing Director M. Khorshed Anwar and Head of Digital Finance Services Ahsan Ullah Chowdhury were also present during the award ceremony.
During the event, speakers highlighted Nagad’s extraordinary contributions to the financial sector and its revolutionary changes in the digital payment system, recognising this achievement as well-deserved.
Nagad expressed optimism about further strengthening the bank-MFS partnership, which has already accelerated financial inclusion, even in remote areas.
Mentionable, Nagad has similar partnerships with almost all top banks in the country. So, users can add money to Nagad accounts from any bank or card, deposit DPS instalments, and make loan repayments from Nagad to various banks. Using the Nagad app or USSD *167#, customers can carry out transactions, make payments, and settle various types of bills directly from their bank accounts or Nagad wallets.
Having started its journey just five years ago, Nagad is now one of the largest mobile financial services in the country. The Bangladesh Bank is now directly supervising this digital financial service of Bangladesh Postal Department, which is why Nagad has reached new heights in daily transactions and customer numbers.