Nagad to be privatised: BB governor

The government has decided to transfer Nagad, the mobile financial service (MFS) under the Bangladesh Post Office, to the private sector.

A circular will be issued within a week to invite investors for the service, Bangladesh Bank (BB) governor Ahsan H Mansur said.

Speaking as chief guest at the “Cashless Bangladesh Summit 2025,” jointly organised by ICMAB and Mastercard at Hotel Sonargaon in Dhaka on Wednesday, the BB governor disclosed the decision.

He said, “When it comes to MFS, unfortunately, we still have only one major player in the market. More activities, competition, and new investments are needed in this sector. For this reason, a decision has been taken to bring Nagad under private ownership and attract investment.”

Nagad will be removed from the control of the postal department, he said adding that the department no longer has the capacity to manage such a service.

A technology company will have to be brought in as the main shareholder of Nagad.

The governor also said that major reforms had already been carried out in Nagad. The problems caused by irregularities linked to its former owners, particularly regarding the EoC, had been resolved.

Around 15 million fake or inactive accounts had been eliminated, and the organisation is now being restructured.

Highlighting the need for a strategic investor in the technology sector, Ahsan H Mansur said, “What we need now is an organisation like bKash, which can invest gradually and increase its shareholding in Nagad. We hope to revive Nagad as a strong competitor.”

He expressed optimism that Nagad could indeed be revitalised as a worthy competitor.

National Board of Revenue chairman Md Abdur Rahman Khan, finance secretary Khairuzzaman Mozumder, and City Bank PLC managing director and CEO Mashrur Arefin, among others, also addressed the event.