National Bank remittances to be credited directly to Nagad wallets

Nagad, the mobile financial service of the Bangladesh Postal Department, and National Bank PLC have jointly introduced a new channel enabling expatriates' families in Bangladesh to receive remittances directly into Nagad mobile wallets.

Under the initiative, remittances sent from abroad via National Bank will be credited directly to beneficiaries' Nagad wallets. Expatriates can send money using international exchange houses, money transfer operators (MTOs), or banks, while beneficiaries—including those in remote areas—can access and use the funds around the clock, with minimal cash-out charges.

Remittance recipients will continue to receive the government's 2.5 per cent incentive. The service is available through more than 60 money transfer operators and over 300,000 Nagad Uddokta points nationwide.

A remittance payment agreement was recently signed between National Bank PLC and Nagad 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 agreement on behalf of their respective organisations.

Those present at the signing ceremony included Md Meshkat-ul-Anwar Khan, Deputy Managing Director (in-charge) of National Bank PLC; Milton Roy, Head of the Remittance Division; Md Habibur Rahman and Md Abu Taleb, Senior Associate Administrators of Nagad; Anwar Ullah, Associate Administrator; Muhammad Shaheen Sarwar Bhuiyan, Chief Commercial Officer; and Md Ahsanul Haque Bashar, Head of Remittance, along with other officials from both institutions.

Adil Chowdhury and Md Motasem Billah described the initiative as a significant step towards extending remittance services to marginal and underserved communities. They expressed optimism that the partnership would help increase remittance inflows and make a positive contribution to Bangladesh's economy.