Nagad, the mobile financial service of the Bangladesh Postal Department, and National Bank PLC have jointly introduced a new channel to facilitate the delivery of remittances directly into beneficiaries’ Nagad mobile wallets.
Under this strategic integration, expatriates can now remit money via international exchange houses, money transfer operators (MTOs), or banks, with funds credited straight to the Nagad accounts of their family members in Bangladesh.
This initiative ensures that recipients, including those in remote areas, can access and use their funds 24 hours a day from anywhere in the country with minimal cash-out charges.
Beneficiaries will also continue to receive the 2.5 per cent government incentive on remittances. The service is currently supported by over 60 MTOs and a network of more than 300,000 Nagad Uddokta points nationwide.
A formal remittance payment agreement was signed recently at Nagad’s head office in Banani, Dhaka. Adil Chowdhury, Managing Director of National Bank PLC, and Md. Motasem Billah, Administrator of Nagad, signed the pact on behalf of their respective organisations.
The signing ceremony was attended by several senior officials, including National Bank’s Deputy Managing Director (In-Charge), Md. Meshkat-ul-Anwar Khan, and Head of Remittance Division, Milton Roy.
Representing Nagad were Senior Associate Administrators Md. Habibur Rahman and Md. Abu Taleb, Associate Administrator Anwar Ullah, Chief Commercial Officer Muhammad Shaheen Sarwar Bhuiyan, and Head of Remittance Md. Ahsanul Haque Bashar.
Describing the initiative as a groundbreaking step, Adil Chowdhury and Md. Motasem Billah expressed optimism that the partnership would better serve marginal and underserved communities. They noted that the agreement is expected to increase the flow of remittances into Bangladesh and contribute positively to the national economy.
