We expect to find new investors for Nagad in three to four months: Governor
Business Report :
Bangladesh Bank Governor Ahsan H Mansur yesterday said that mobile financial service Nagad, currently a state-run enterprise, will be privatized and a new investor is being sought for this purpose.
A public notice will soon be issued to attract new investors for the digital financial service Nagad, as part of its planned privatization, he expressed.
“The Postal Department does not have the capacity to operate Nagad. We want technology companies to come forward and invest in Nagad. We expect to find new investors within the next three to four months,” the governor said while addressing the “Cashless Bangladesh Summit 2025” in Dhaka on Wednesday.
The event was jointly organized by the Institute of Cost and Management Accountants of Bangladesh (ICMAB) and Mastercard at a city Hotel.
Mansur said the decision to bring in investors had been taken at the highest level, and that a formal notice would be published within the next few days.
“We want technology companies to come forward. They should invest in Nagad. We hope to find new investors within the next three to four months” the governor said.
Highlighting the growing reliance on cash, the governor said, “The cost of printing cash is increasing by 10 per cent, or around Tk2,000 crore, every year. If this continues, how can this be a digital economy?”
The summit brought together stakeholders from the banking and fintech sectors, regulatory bodies, and policymakers to discuss the prospects, challenges, and necessary steps for building a cashless economy.
The panel included Md Sharafat Ullah Khan, director of the Payment Systems Department at Bangladesh Bank; Syed Mahbubur Rahman, managing director and CEO of Mutual Trust Bank; Ali Ahmmed, chief commercial officer of bKash; Zakia Sultana, director at Mastercard Bangladesh; and Adnan Imtiaz Halim, chairman and Group CEO of Sheba Platform.
Shish Haider Chowdhury, secretary of the Information and Communication Technology Division, attended the event as special guest.
In the first session, Bangladesh Policy Exchange Chairman and CEO Masrur Riaz delivered a keynote speech on “Building a cashless economy: critical role of fintechs.”
He said Bangladesh could learn from the digital transformation experiences of countries such as China, India and Sweden. He suggested that the government and regulators enable wholesale and corporate digital payments, support innovation, and invest in infrastructure to strengthen the digital transaction ecosystem. The session was moderated by Zeeshan Kingshulk Huq, chief commercial officer of United Commercial Bank.
Industry experts viewed Nagad’s privatization as a pivotal moment for Bangladesh’s fintech landscape.
With over 40 million registered users, Nagad has emerged as one of the fastest-growing MFS platforms, second only to bKash in transaction volume.
Private ownership is expected to bring enhanced innovation, improved customer experience, and greater investment in cyber security and infrastructure.