Mobile financial service Nagad has retained its position as the preferred platform for disbursing government allowances and stipends under the social safety net, despite access being open to all financial institutions.
In the January–March quarter, a total of 1,47,34,779 beneficiaries chose Nagad to receive allowances, including old-age, widow and disability benefits, as well as education stipends. During this period, Nagad disbursed Tk3,049.23 crore in government assistance across multiple categories.
Of the total, the highest number of beneficiaries and disbursements came under the social safety net programme. A total of 1,31,43,748 beneficiaries received Tk2,878.35 crore through Nagad, which was Tk300 crore higher than in the same period last year.
Nagad also disbursed Tk32.67 crore in education stipends to 4.13 lakh primary students during the quarter. In addition, 5,785 students under the sewing and embroidery training programme received Tk2.68 crore, marking a notable increase from the same period a year earlier.
Technical education stipends reached 1.22 lakh students, amounting to Tk45.58 crore, nearly Tk10 crore more than the corresponding period last year.
Under the Madrasa Education Directorate, Nagad distributed Tk3.43 crore among 38,055 students.
Under the Mother and Child Benefit Programme, the platform disbursed Tk864.99 crore in maternity allowances to 10,11,557 beneficiaries. During the same period, funds under the “Family Card” programme were also distributed on a pilot basis through Nagad.
Md Samsul Islam, Chief Corporate Affairs Officer of Nagad, said the platform continues to top beneficiary preference for distributing allowances, stipends and government grants. He said customer trust and service quality have driven steady growth in both beneficiary numbers and disbursement volumes each quarter.
In the 2024–25 fiscal year, the government channelled Tk9,000 crore in social safety net allowances through Nagad. The amount is expected to increase further in the current fiscal year. Beneficiaries have continued to favour the platform due to its ease of cash-out from any location and comparatively low charges.
