The postal department owns 51 per cent of the mobile financial services company Nagad and the remaining 49 per cent is being transferred to the private sector.
The information was given by the Nagad entrepreneurs and officials in a discussion with journalists at the Westin Hotel in the capital. So far, the postal department has received 51 percent of the Nagad profit. However, there was no participation in ownership and management.
Managing Director (MD) of Nagad Tanvir Ahmed said the government would take 51 per cent stake in Nagad The process has started for this. The law ministry is waiting for verification and selection. It will be implemented after getting final approval from Bangladesh Bank at the end of all the processes. Tanvir Ahmed is a representative of Sigma Group, the largest partner in Nagad
Asked whether Sonali Bank was buying Nagad shares, Tanvir Ahmed said the offer made by Sonali Bank was not acceptable. The investment that Sonali Bank wants to make is much less. He said when there were 60 crore transactions, the valuation of Nagad was around Tk 2,300 crore. Now the transaction is Rs 400 crore, the valuation has also increased five times.
According to the event, there has been a huge growth in Nagad customers and transactions in recent times. Last November there were two crore subscribers, now it has increased to three crore 60 lakhs. Transactions have also increased from Tk 150 crore to Tk 400 crore. Also present at the event was Niaz Morshed Elite, one of the owners and director of Nagad, executive director. Safayet Alam and Additional General Manager of Postal Department Zakir Hossain Nur.