| Company type | Private |
|---|---|
| Founded | March 26, 2019; 6 years ago (2019-03-26) |
| Founder | Tanvir A Mishuk |
| Headquarters | Delta Dahlia Tower, 36, Kemal Ataturk Avenue, Banani, Dhaka 1213, Bangladesh |
Area served | Bangladesh |
| Services | Mobile financial services |
| Website | nagad |
Nagad (Bengali:নগদ) is a Bangladeshi digital financial service (DFS),[1] operating under the authority of theBangladesh Post Office,[2] an attached department of theMinistry of Post and Telecommunication.[3]
It is the new version of the previously introduced Postal Cash Card andElectronic Money Transfer System (EMTS) of the Bangladesh Post Office.[4] Its headquarters is located at 36 Kemal Ataturk Avenue,Banani,Dhaka — 1213,Bangladesh.[5] Nagad is the first digital bank in the country.[6]
This financial service is regulated under the Bangladesh Postal Act Amendment 2010 Section 3(2), a unique law procured especially for the Bangladesh Post Office by thegovernment of Bangladesh.[7] The digital financial service was launched by the Bangladesh Post Office on 11 November 2018. It started operations on 26 March 2019,[8] celebrating the48th Independence Day of the country.[4]
Nagad started its journey with demanding services like cash-in, cash-out, send money, and mobile recharge. More popular services like bills payment ande-commercepayment gateway are now available.[9] From the very beginning, Nagad has its own mobile app for customers and partners. It also introduced a revolutionary customer on-boarding feature- DKYC (DigitalKYC) blending BanglaOCR, automated identity verification and localized data that has minimized overall customer acquisition and life cycle time to one/tenth of market practice as well focusing on paper-less environment.[10]
