ONE Bank, Nagad sign deal for real-time fund transfer

ONE Bank PLC and Nagad have partnered to enable instant transfers of funds from ONE Bank accounts to Nagad wallets via the bank's mobile application, ONEApp.

The collaboration aims to boost customer transaction flexibility and support Bangladesh's move towards a cashless economy.

Customers can now transfer funds from their bank accounts to mobile wallets via a secure, user-friendly digital platform.

The service was officially launched at a ceremony at ONE Bank's corporate headquarters in Gulshan, Dhaka, on Tuesday, 23 June.

Md Motasem Billah, Administrator of Nagad appointed by Bangladesh Bank, and Muhit Rahman, Managing Director of ONE Bank PLC, took part in the event and exchanged the signed agreement.

Mohummed Shahin Sarwar Bhuiyan, Chief Commercial Officer of Nagad; Md Saidur Rahman Dipu, Head of Business Sales of Nagad; Shabbir Ahmed, Additional Managing Director and Head of Business of ONE Bank PLC; Kazi Ziaul Islam, Deputy Managing Director of ONE Bank PLC; and Iftekhar Ahmed Zafar, Deputy Managing Director of ONE Bank PLC, were present alongside other senior officials from both organisations.

Md Motasem Billah said, "Interoperability between banks and mobile financial services is crucial for expanding digital financial services in Bangladesh. This partnership with ONE Bank will allow customers to carry out digital transactions more conveniently and contribute to greater financial inclusion nationwide."

Muhit Rahman said, "At ONE Bank, we are committed to continuously enhancing our digital banking ecosystem to deliver greater convenience and value to our customers. This partnership with Nagad is another significant step, enabling customers to transfer funds instantly, securely and seamlessly. It also aligns with Bangladesh Bank's vision of fostering a cashless economy and advancing digital financial inclusion across the country."

Both organisations stated that the partnership reflects their shared commitment to leveraging technology-driven solutions to deliver customer-centric financial services and promote digital financial inclusion across Bangladesh.