Jamaat-e-Islami MP Arman meets governor to discuss foreign investment in Nagad

After the new government came into power, the policy for Nagad has not yet been finalised.

If the government allows private investment in this sector, foreign investment would be possible.

Bangladesh Bank Governor Ahsan H Mansur stated that actions will be taken according to the government's decision.

This statement was made by Jamaat-e-Islami MP Mir Ahmad Bin Kashem Arman after a meeting with the Governor on Tuesday.

He is a member of parliament elected from a constituency in Dhaka.

In a letter to the Governor of Bangladesh Bank on 8 February, Mir Ahmad Bin Kashem Arman requested permission for audits on behalf of foreign investors.

The interim government previously decided to allow private investment in Nagad.

Mir Ahmad Bin Kashem Arman mentioned that several foreign investors are interested in investing in Nagad. At the moment, as a lawyer on behalf of one investor, he has come to meet with the Governor of Bangladesh Bank.

When asked by journalists who these investors are, Mir Ahmad Bin Kashem Arman did not disclose any names. However, he mentioned that they have investments across three continents and now wish to invest in Bangladesh. As a lawyer, he is acting as their local coordinator and providing them with legal assistance.

Mir Ahmad Arman further stated that due to his experience working with large companies, these investors have chosen him as the coordinator.

Additionally, he is from a family of entrepreneurs, and this background and experience have also been considered by them.

In response to a question about whether representing a multinational company as a member of parliament constitutes a conflict of interest, Mir Ahmad Bin Kashem Arman replied, "No, we engage in politics to serve the people; we do not take anything in return."

He further explained that this legal profession is to support his livelihood. It is common in our country for MPs to continue their legal careers.''

The election has already been held, and a new government has taken office. A journalist asked whether there is any potential impact on investment due to the arrival of a new government.

In response, Mir Ahmad Bin Kashem Arman said, "So far, I haven't felt any obstacles. The current government is sincere in attracting foreign investment. There's no alternative to recovering the country's fragile economy. Every conscious citizen should assist in attracting foreign investments to the best of their ability."

Although Nagad is currently operated under the postal department, there hasn't been any significant progress in its management over the past four years. Individuals known to be close to the former Awami League government were involved in managing Nagad.

After the fall of the Awami League government on 5 August last year, the interim government appointed an administrator to Nagad. However, before this, most of the top officials and entrepreneurs of Nagad had already fled.

Following the administrator's appointment, a major fraud was revealed in an audit of Nagad.

The organisation engaged in financial fraud by listing fake distributors and agents and creating excess electronic money or e-money.

Due to these activities, there is reportedly a financial discrepancy of Tk 23.56 billion.

Bangladesh Bank has filed a lawsuit naming 24 people as defendants in this incident.