Nagad becomes billion-dollar company only in 3 years: Palak | The Business Standard
Skip to main content
  • Epaper
  • Economy
    • Aviation
    • Banking
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Saturday
May 31, 2025

Sign In
Subscribe
  • Epaper
  • Economy
    • Aviation
    • Banking
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
SATURDAY, MAY 31, 2025
Nagad becomes billion-dollar company only in 3 years: Palak

Bangladesh

BSS
22 March, 2023, 06:55 pm
Last modified: 22 March, 2023, 08:45 pm

Related News

  • Govt to form independent board to oversee Nagad operations
  • Bangladesh Postal Department takes charge of Nagad
  • Nagad elects new Chief Executive Officer
  • Apex court declares appointment of administrator and board at Nagad illegal
  • Nagad joins Padma Bridge’s electronic toll collection system

Nagad becomes billion-dollar company only in 3 years: Palak

BSS
22 March, 2023, 06:55 pm
Last modified: 22 March, 2023, 08:45 pm
State Minister for Posts, Telecommunications and Information Technology Zunaid Ahmed Palak. Photo: Collected
State Minister for Posts, Telecommunications and Information Technology Zunaid Ahmed Palak. Photo: Collected

State minister for ICT Division Zunaid Ahmed Palak has said Nagad, a mobile financial service provider of the Bangladesh Postal Department, has emerged as a billion-dollar company only in the first three years of its inception.
 
"Nagad has become a billion-dollar company on the basis of its partnership with the Postal Department and the ICT Division's 'Parichay', while it took bKash 10 years to achieve that," he said.
 
The state minister made these remarks while comparing the country's two leading MFS carriers - bKash and Nagad - at an event held in a city hotel on Tuesday to inaugurate "Meghna Pay", an MFS of Meghna Bank.
 
Tanvir A Mishuk, founder and managing director of Nagad Limited, Ashequr Rahman, chairman of Meghna Bank, Sohail RK Hussain, managing director and CEO of Meghna Bank Limited, were also present at the function.
 
Palak also termed Nagad as the fastest growing start-up fintech in the world. "Nagad has now gained the status of becoming a champion in the global MFS industry."
 
Tanvir A Mishuk said, "Nagad as a mobile financial service will stay beside Meghna Pay with any kind of technological assistance."
 
Explaining it, he said, "We believe if we work together with Meghna Pay to break the monopoly in the [MFS] market, this will benefit both the market as well as people."
 
"We want to build a smart Bangladesh by working shoulder to shoulder," Tanvir added.
 
Nagad, as an MFS of the Bangladesh Postal Department, embarked on its journey on 26 March 2019. At the outset, it revolutionised the account opening process by introducing electronic know your customer (e-KYC). Later, the MFS operator came up with an even easier way to open an MFS account just by dialing *167# on a feature phone. 
 
Nagad delivers its various services at minimal charges as it uses state-of-the-art technologies. In some cases, Nagad provides its customers cost-free services.
 
Operating with a government partnership, Nagad's registered customers now stand at 7.25 crore, with its daily transactions hitting around Tk1,000 crore on average.
 
Nagad has set a unique example in the disbursement of government allowances, education stipends, and other financial aid.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

Top News

Nagad

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Infograph: TBS
    Tax exemptions for key industries to go, sweeping tax hikes planned
  • Chief Adviser Muhammad Yunus meets Japanese Prime Minister Ishiba Shigeru in Japan on 30 May 2025. Photo: CA Office
    Bangladesh, Japan to sign Economic Partnership Agreement by year-end
  • File photo of BNP BNP Standing Committee Member Amir Khasru Mahmud Chowdhury
    Speaking about country’s problems in foreign trips won’t solve them: Khasru takes jibe at Yunus

MOST VIEWED

  • BAT Bangladesh has to vacate Mohakhali HQ as SC rejects lease appeal
    BAT Bangladesh has to vacate Mohakhali HQ as SC rejects lease appeal
  • Bangladesh Chief Adviser Muhammad Yunus speaks to Nikkei Asia in Tokyo on 29 May. Photo: Nikkei Asia
    Bangladesh ready to buy more US cotton, oil to reduce trade gap: Yunus
  • Bangladesh targets global trade alignment with sweeping tariff changes
    Bangladesh targets global trade alignment with sweeping tariff changes
  • Matarbari 1,200MW coal-fired plant in Moheshkhali, Cox's Bazar. File Photo: Nupa Alam/TBS
    Supplier slapped with 5 conditions to unload rejected Matarbari coal shipment
  • US Embassy Dhaka. Picture: Courtesy
    Birth tourism not permitted on US visitor visa: US Embassy Dhaka
  • Six banks fail to pay dividends for 2024
    Six banks fail to pay dividends for 2024

Related News

  • Govt to form independent board to oversee Nagad operations
  • Bangladesh Postal Department takes charge of Nagad
  • Nagad elects new Chief Executive Officer
  • Apex court declares appointment of administrator and board at Nagad illegal
  • Nagad joins Padma Bridge’s electronic toll collection system

Features

Babar Ali, Ikramul Hasan Shakil, and Wasfia Nazreen are leading a bold resurgence in Bangladeshi mountaineering, scaling eight-thousanders like Everest, Annapurna I, and K2. Photos: Collected

Back to 8000 metres: How Bangladesh’s mountaineers emerged from a decade-long pause

14h | Panorama
Photos: Courtesy

Behind the looks: Bangladeshi designers shaping celebrity fashion

16h | Mode
Photo collage of the sailors and their catch. Photos: Shahid Sarkar

Between sky and sea: The thrilling life afloat on a fishing ship

20h | Features
For hundreds of small fishermen living near this delicate area, sustainable fishing is a necessity for their survival. Photo: Syed Zakir Hossain

World Ocean Day: Bangladesh’s ‘Silent Island’ provides a fisheries model for the future

1d | The Big Picture

More Videos from TBS

Six Lakh Sacrificial Animals Ready in Sirajganj for Eid-ul-Adha

Six Lakh Sacrificial Animals Ready in Sirajganj for Eid-ul-Adha

11h | TBS Stories
Six MoUs signed during Chief Advisor's visit to Japan

Six MoUs signed during Chief Advisor's visit to Japan

15h | TBS Today
Record migrant deaths in 2024

Record migrant deaths in 2024

1d | Podcast
Govt likely to trim subsidies in new budget

Govt likely to trim subsidies in new budget

18h | TBS Insight
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net