Popularity of Nagad

People across the country are already familiar with the names of mobile financial services (MFS) such as Dutch Bangla Bank's rocket, Brac Bank's bKash etc. Nagad is a new name to them.

Being called the country's first Digital Financial Service (DFS), Bangladesh Post Office introduced Nagad on October 10, 2018. It facilitates the day-to-day financial transaction needs of the people. Its services include 'cash out', 'send money' and 'mobile recharge'.

Many people who cannot access banking services in rural areas are said to be using Nagad in their day-to- day lives to send money and receive money. Nagad has also led to the creation of jobs for many. With the option of sending upto Tk 50,000 per transaction at one go on a day, Nagad has created opportunities to meet the needs of small businessmen in rural and urban areas. This could be a very useful service for those who are engaged in online businesses.

Nagad is saving our valuable time. It has successfully managed to convince people to the extent that now people do not say 'send money', instead they prefer saying 'nagad me', just like 'bKash me'.

Nagad, along with other MFS, are playing an important role at changing the overall economy of the country.

Shakhawatul Islam

BBA student

North South University, Dhaka

[email protected]