Prime Minister Sheikh Hasina yesterday inaugurated digital financial service provider Nagad, a product developed by Bangladesh Post Office with a private company in a bid to deepen financial inclusion in the most rural corners of the country.
“Currently, 66 percent of the population are unbanked and our target is to bring them under the cashless net,” said Mohammad Solaiman, head of corporate and regulatory affairs of Nagad.
People can transact safely and quickly at a low cost through Nagad, he said.
Nagad, which started its service on a trial basis in September in all the districts headquarters, has amassed 7 lakh active customers.
Within the next one and a half years the joint venture between the BPO and Third Wave Technologies will expand its coverage area, said Solaiman.