Motasem Billah appointed as new administrator of Nagad
Current administrator Muhammad Badiuzzaman Dider has been transferred to the head office of the central bank
Bangladesh Bank has appointed Md Motasem Billah, director of its Chattogram office, as the new administrator of mobile financial service (MFS) provider Nagad, replacing Badiuzzaman Didar.
Didar has been transferred to the central bank's headquarters, Bangladesh Bank spokesperson Arif Hossain Khan told The Business Standard today (27 February).
According to sources, Badiuzzaman Didar resigned from the position of administrator at Nagad due to health issues. In his resignation letter, he mentioned that the workload at Nagad was excessive which was affecting his health.
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Following the formation of the interim government, various changes were made in the management of public and private institutions.
As part of this process, on 21 August last year, the Bangladesh Bank appointed Muhammad Badiuzzaman Didar, director of the Chattogram Office of the Postal Department, as administrator for Nagad for a one-year term. Several other officials from the same department were assigned as assistant administrators.
The previous board of Nagad was also dissolved.
However, the Nagad's executive director Md Shafayet Alam filed a writ petition challenging the Bangladesh Bank's appointment of an administrator to Nagad on 10 September last year, alleging non-compliance with the Payment and Settlement System Act 2024.
The High Court, on 15 February, declared the Bangladesh Bank's move legal and dismissed a rule questioning its legality.
After assuming his role, Badiuzzaman investigated various irregularities at Nagad. His investigation found Nagad's former managing director Tanvir Ahmed Mishuk involved in the irregularities, after which Tanvir threatened the administrator to halt the investigation.
In September, Badiuzzaman filed a general diary (GD) with the police, accusing Tanvir of issuing threats against him. Then, on 12 February, Badiuzzaman was attacked, further raising security concerns.
In September, Badiuzzaman filed a general diary (GD) with the police, alleging that Tanvir had threatened him. Later, on 12 February, Badiuzzaman was attacked, further raising security concerns.
Following the attack, Bangladesh Bank assured Badiuzzaman of adequate security, but he remained concerned for his safety and was reluctant to continue as administrator. Given the situation, the central bank started searching for a new administrator who was familiar with Nagad's operations and could stabilise its management.
