Nagad plans new services for customers in 2022: managing director

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Nagad Limited is expected to introduce a new mobile financial service in the New Year.
The proposed service is expected to allow small and medium entrepreneurs to transact higher amounts of fund, said the MFS provider’s managing director Tanvir A Mishuk in an interview with New Age on December 11 at his office in the capital.
At present, mobile financial service providers maintain a maximum transaction limit of Tk 25,000 for an individual client, he said.
Nagad has been having talks with the Bangladesh Bank for a year to introduce the new service.
‘It is now at a mature stage,’ Tanvir said.
But he did not disclose details of the product or the name of the product as the BB is still working on the issue.
Tanvir said that the proposed financial service would ensure a better leverage for micro and small and medium entrepreneurs in running their business.
According to him, the current SME market is about three times bigger than what the country’s banking system and the MFS providers cover.
Most of the SMEs, he said, have no access to the formal banking system because banks and non-bank financial institutions do not want to cater to them for their low business profile.
He said that Nagad would concentrate on the new product for enhancing financial inclusion of mass people in the near future in line with the digitisation policy being pursued by the government since 2009.
The new product will help the government in bringing more funds into the formal channel and creating scopes for providing more loans to entrepreneurs, he said.

Please log onto to newagebd.net to read the full interview.