Staff Correspondent

Bangladesh Bank Governor Dr Ahsan H Mansur on Wednesday said the government has decided to privatise Nagad, a leading MFS provider, to enhance competition in the mobile financial services (MFS) sector.

Nagad is currently operated by the Bangladesh Post Office.

Governor Dr Ahsan Mansur said this while speaking at the ‘Cashless Bangladesh Summit–2025’ organised by the Institute of Cost Management Accountants of Bangladesh (ICMAB) at a city hotel.

"We want to boost competition and activities in the MFS sector. So, at the highest level, we have decided to privatise Nagad and bring in investors," said Governor Mansur.

He mentioned that an advertisement regarding the privatisation is expected within a week.

The governor said Nagad would be separated from the Post Office, as the latter currently lacks the capacity to run it effectively. "It is crucial to bring in a technology company as the main shareholder of Nagad," he added.

Governor Dr Mansur expressed optimism that the move would help rebuild Nagad, enabling it to become a strong competitor in the MFS market.

At the same event, Md Sharafat Ullah Khan, Director of the Payment Systems Department at Bangladesh Bank, announced that the central bank would offer incentives to encourage digital transactions in the banking sector.  "Bangladesh Bank is trying to create a cashless system through digital transactions."  

He emphasised that the cost of transactions for customers should be transparent.

"We want to build a cashless society, and we need to provide incentives for this. Bangladesh Bank is working on providing these incentives in the future, although I am not disclosing the format at this moment," Khan said.

He also stressed the importance of mutual understanding among banks and financial institutions to build a robust digital transaction system, warning that those who fail to adapt may lose their market share in the future.

The panel discussion, titled ‘The Role of FinTech in Building a Cashless Economy’, was attended, among others, by Syed Mahbubur Rahman, Managing Director and CEO of Mutual Trust Bank PLC; Ali Ahmed, Chief Commercial Officer of bKash Limited; Zakia Sultana, Director of Mastercard; and Adnan Imtiaz Halim, Chairman of Sheba Platform.