Govt to privatise Nagad: BB governor

NN ONLINE:

Bangladesh Bank (BB) Governor Ahsan H Mansur today said the government has decided to fully privatise Nagad to increase competition in the mobile financial services (MFS) sector.

“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,” he said. The governor was speaking as the chief guest at the ‘Cashless Bangladesh Summit 2025’, at Sonargaon Hotel in the city. The Institute of Cost and Management Accountants of Bangladesh (ICMAB) and Mastercard jointly organised the summit.

In his speech, Mansur said that 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.

Highlighting the growing reliance on cash, he said, “The cost of printing cash is increasing by 10%, or around Tk 2,000 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.

Secretary of the Information and Communication Technology Division Shish Haider Chowdhury 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.