Nagad sees bright future with upcoming digital banking

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Nagad Limited is poised to leverage the potential of digital banking, aiming not only to bring a large unbanked population into the banking network but also to provide small and micro enterprises with collateral-free loans at single-digit interest rates.
In a recent interview with New Age at his office in the capital, Nagad Limited's managing director, Tanvir A. Mishuk, highlighted the suitability of digital banking in bringing the unbanked population into the banking system.
Mishuk emphasised that approximately 52 per cent of the country's population still remained outside the banking network, based on findings by his company.
Nagad has already established itself as the fastest-growing mobile financial services (MFS) provider within its five years of operation.
During the interview, Mishuk discussed various topics, including the overall progress of MFS providers, the challenges they faced, the security aspects of digital transactions, the support required from the government for transitioning towards a cashless society, and the behaviour of MFS users.