Will try to further expand Nagad’s business Says Nagad’s administrator

Muhammad Badiuzzaman Didar, the newly appointed administrator of Nagad Ltd. and director of Bangladesh Bank, has stated that the central bank is not attempting to shut down Nagad, one of the country’s leading mobile financial services providers, rather it is working towards ensuring the company’s further development.

At a press briefing held on Thursday at Nagad Ltd.’s headquarters after taking charge, the administrator said his and his associates’ goal is to stop all the negative propaganda against Nagad and help the company move forward.

Earlier, on Wednesday, Bangladesh Bank issued a letter appointing Muhammad Badiuzzaman Didar, director of the Chattogram office, as the administrator of Nagad Ltd. Along with him, the bank also appointed additional director Md. Habibur Rahman, joint directors – Anwar Ullah, Palash Mondal, Abu Sadat Mohammad Yasin (ICT); Deputy Director (ICT) Chayan Biswas, and Deputy Director Md. Ayub Khan as the associates of the administrator.

Additionally, three officials from the Postal Department have been assigned to Nagad’s office. On Thursday morning, the ten officials took charge of their responsibilities.

Administrator Badiuzzaman Didar at the press briefing said, “Recently, we have observed some rumours spreading about the Postal Department’s digital financial service, Nagad. Nagad is a massive institution with over 9.5 crore customers. If this institution is harmed by such rumours, the country’s economy will suffer too. So, we are here to put an end to all types of rumours and to further increase customer trust. Bangladesh Bank has not come to shut down Nagad; we are here to assist Nagad in moving forward.”

The administrator clarified that none of Nagad’s services, activities, or progress would be halted, even for a moment. He said, “Nagad was and will continue to be. The operations of Nagad will continue as they have been – be it disbursements of allowances, day-to-day transactions, or payment processing. We are here to work towards making them even larger.”

In response to questions from journalists, the administrator said they have no intention of interfering with Nagad’s regular operations. Moreover, they will not try to create any instability in human resources or other assets.

Director of Bangladesh Postal Department Abu Taleb said, “Over the last five years, there has been no discrepancy in the digital transactions managed by Nagad under the Postal Department. Like other services of the Postal Department, this is a specialised digital financial service.”

At the press conference, Executive Director of Nagad Ltd. Md. Shafayet Alam, said, “We welcome the appointment of this administrator by Bangladesh Bank. This timely and groundbreaking step by the government will play a direct role in restoring customer confidence, countering the negative propaganda against Nagad.”

Associates of the administrator, representatives from the Postal Department, and Nagad’s Additional Managing Director Mohammad Aminul Haque were also present at the press conference.